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Using the Following Data,prepare a Classified Balance Sheet for Blanchard

Question 155

Essay

Using the following data,prepare a classified balance sheet for Blanchard Corporation as of December 31,2010.
 Cash $200 Investments in Short-Term 400 Government Securities  Accounts Receivable 800 Inventory 3,000 Prepaid Rent 100 Investment in Land Held 2,700 for future use  Land 2,000 Building 8,000 Accumulated Depreciation- $1,000 Building  Franchise 1,800 Accounts Payable 1,600 Revenues Received in Advance 400 Notes Payable (in two years) 4,000 Common Stock- $10 par value, 10,000 Retained Earnings 2,000\begin{array}{lr}\text { Cash } & \$ 200 \\\text { Investments in Short-Term } & 400 \\\text { Government Securities } & \\\text { Accounts Receivable } & 800 \\\text { Inventory } & 3,000 \\\text { Prepaid Rent } & 100 \\\text { Investment in Land Held } & 2,700 \\\text { for future use } & \\\text { Land } & 2,000 \\\text { Building } & 8,000\end{array}\begin{array}{lr}\text { Accumulated Depreciation- } & \$ 1,000 \\\text { Building } & \\\text { Franchise } & 1,800 \\& \\\text { Accounts Payable } & 1,600 \\\text { Revenues Received in Advance } & 400 \\\text { Notes Payable (in two years) } & 4,000 \\\text { Common Stock- \$10 par value, } & 10,000 \\& \\\text { Retained Earnings }&2,000\end{array}

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