required prepare a classified balance sheet in report form 638756
The following information was obtained from the accounts of Airlines International dated December 31, 2010. It is presented in alphabetical order.
Accounts payable |
77,916 |
Accounts receivable |
67,551 |
Accrued expenses |
23,952 |
Accumulated depreciation |
220,541 |
Allowance for doubtful accounts |
248 |
Capital in excess of par |
72,913 |
Cash |
28,837 |
Common stock (par $0.50, authorized 20,000 shares, issued 14,304 shares) |
7,152 |
Current installments of long term debt |
36,875 |
Deferred income tax liability (long term) |
42,070 |
Inventory |
16,643 |
Investments and special funds |
11,901 |
Long term debt, less current portion |
393,808 |
Marketable securities |
10,042 |
Other assets |
727 |
Prepaid expenses |
3,963 |
Property, plant, and equipment at cost |
809,980 |
Retained earnings |
67,361 |
Unearned transportation revenue (airline tickets expiring within one year) |
6,808 |
Required Prepare a classified balance sheet in report form.