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Interest receivable

       102,630

 

Rent payable

         43,000

Salaries Payable

       173,000

 

Inventory

       227,800

Bonds payable

       370,000

 

Equipment

    3,114,000

Common stock, $1 par

       205,000

 

Income taxes payable

       105,000

Accounts payable

       485,000

 

Notes payable (long-term)

    2,065,000

Cash

       355,000

 

Preferred stock, $10 par

       145,000

Land

       484,000

 

Prepaid expenses

         91,920

Notes receivable

       445,700

 

Current maturities LT debt

       265,000

Goodwill

$121,000

 

Equity investments, trading

       121,000

Retained earnings

       713,850

 

Accumulated depreciation

$558,200

Discount on bonds payable

         65,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Prepare a classified balance sheet in good form. Assume that notes receivable and notes payable are

short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M91588476

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