2.2 Balance Sheet Preparation. The following items are listed in alphabetical order. Please prepare a Balance Sheet from this information and then answer the additional questions:

A. What dollar amount are the following items:

B. What items were not included on the balance sheet?

Why were they not included?

Item 2000 Accounts Payable $ 14,000 Accounts Receivable 17,000 Accrued Liabilities 9,000 Accumulated Depreciation (34,500)

Building 32,000 Cash 2,500 Current Deferred Tax Asset 500 Current Portion of Long-Term Debt 1,500 Deferred Taxes 13,000 Depreciation Expense 7,000 Equipment 21,000 Goodwill 4,300 Inventory 23,500 Land 15,000 Long-Term Debt 5,000 Marketable Securities 14,000 Net Income 7,200 Office Equipment 2,500 Other Current Assets 1,200 Other Long-Term Assets 1,000 Other Long-Term Liabilities 2,000 Pension Liability 23,000 Stockholders' Equity 25,500 Taxes Payable 4,000 Wages Payable 3,000

B. What items were not included on the balance sheet?
Why were they not included?

Transcribed Image Text:

Item 1. Current Assets 2. Gross Plant, Property, and Equipment 3. Total Assets 4. Current Liabilities 5. Total Liabilities 6. Total Liabilities and Equity Amount