The following list of accounts is taken from the records of the Viking Company Ltd. at December 31, 2016:
|
Account |
Balance |
|
Accounts payable |
$200 |
|
Accounts receivable |
100 |
|
Bank loan, due within 90 days |
500 |
|
Building |
1,000 |
|
Cash |
20 |
|
Equipment |
500 |
|
Land |
2,000 |
|
Mortgage payable (due 2019) |
1,500 |
|
Notes receivable, due within 90 days |
40 |
|
Prepaid insurance |
30 |
|
Retained earnings |
? |
|
Salaries payable |
60 |
|
Share capital |
1,200 |
|
Unused supplies |
10 |
Required: Prepare a classified balance sheet. Assume all accounts have normal balances.
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