26 Feb The following information is available for Karr Bo
The following information is available for Karr Bowling Alley at December 31, 2012. Buildings $128,800 Owner’s Capital $115,000 Accounts Receivable 14,520 Accumulated DepreciationBuildings 42,600 Prepaid Insurance 4,680 Accounts Payable 12,300 Cash 18,040 Notes Payable 97,780 Equipment 62,400 Accumulated DepreciationEquipment 18,720 Land 64,000 Interest Payable 2,600 Insurance Expense 780 Bowling Revenues 14,180 Depreciation Expense 7,360 Interest Expense 2,600Prepare a classified statement of financial position; assume that $13,900 of the notes payable will be paid in 2013.
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