P14
Extracted text: Balance Sheet As at April 30, 2020 Assets Current Assets Cash Accounts Receivable Prepaid Rent Merchandise Inventory Total Current Assets Property, Plant and Equipment (net) Total Assets Liablities Current Liabilities Accounts Payable Unearned Revenue Notes Payable, Current Portion Total Current Liabilities Long-Term Liabilities Notes Payable, Long-Term Portion Total Liablities Shareholders Equity Contributed Capital Preferred Shares, authorized, issued Common Shares, unlimited authorized, issued Total Contributed Capital Retained Earnings Total Shareholders' Equity Liabilities & Shareholders' Equity
Extracted text: Sigmund Corporation has the following account balances at April 30, 2020. Using this information, prepare a classified balance sheet as at April 30, 2020 under ASPE. Account Title Balance Accounts Payable Accounts Receivable Accumulated Depreciation $47,000 $41,300 $10,500 Cash $16,800 Common Shares Merchandise Inventory $43,100 $61,600 Notes Payable $120,000 Preferred Shares $55,800 Prepaid Rent $14,100 Property, Plant and Equipment $247,000 Retained Earnings $101,200 $3,200 Unearned Revenue Notes: Unlimited common shares are authorized and 2,800 have been issued and are currently outstanding. For preferred shares, 11,000 shares are authorized and 4,400 have been issued and are currently outstanding. Each share pays a cumulative dividend of $6 annually. The notes payable is payable over 4 years and $30,000 will be paid by April 30, 2021.