Help Save & Exi The following is a December 31, 2018, post-closing trial balance

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Help Save & Exi The following is a December 31, 2018, post-closing trial balance for the Jackson Corporation. Account Title Cash Accounts receivable Debits credits $ 49,000 43,000 84,000 Prepaid rent for the next 8 months 25,000 Marketable securities (short term) 19,000o 190,000 Inventories ry Accumulated depreciation-machinery Patent (net of amortization) Accounts payable Wages payable s 20,000 88,000 12,500 8,500 41,000 230,000 120,000 66,000 $498,000 $498,000 Bonds payable (due in 10 years) Common stock Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) JACKSON CORPORATION Balance Sheet At December 31, 2018

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Jackson Corporation Balance Sheet - December 31, 2018 Particulars Amount Asset: Current Assets: Cash $49,000.00 Accounts Receivables $43,000.00 Inventories $84,000.00 Prepaid Rent $25,000.00 Investments: Marketable Securities $19,000.00 Property Plant and Equipment: Machinery $190,000.00 Accumulated Depreciation - Machinery $20,000.00 $170,000.00 Intangible Assets: Patents $88,000.00 Total Assets $478,000.00 Liabilities & Stockholder's Equity: Current Liabilities: Accounts payable $12,500.00 Wages Payable $8,500.00 Taxes Payable $41,000.00 Long term Liabilities: Bonds Payable $230,000.00 Stockholder's Equity Common Stock $120,000.00 Retained earnings $66,000.00 Total liabilties and stockholder's Equity $478,000.00

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