The following data pertain to Mia, Inc.: Accounts Payable, $51 ,000; Accounts Receivable, $38,000; Accumulated Depreciation, Building,

Question:

The following data pertain to Mia, Inc.: Accounts Payable, $51 ,000; Accounts Receivable,

$38,000; Accumulated Depreciation, Building, $14,000; Accumulated Depreciation, Equipment, $17,000; Bonds Payable, $60,000; Building, $70,000; Cash, $31,200;

Common Stock, $10 par, 10,000 shares authorized, issued, and outstanding, $100,000; Copyright, $6,200; Equipment, $152,000; Inventory, $40,000; Investment in Corporate Securities (long-term), $20,000; Investment in Six-Month Government Securities,

$16,400; Land, $8,000; Paid-in Capital in Excess of Par Value, $50,000; Prepaid Rent, $1,200; Retained Earnings, $88,200; and Revenue Received in Advance, $2,800.

Prepare a classified balance sheet at December 31, 20xx. E-4

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 9780618310746

8th Edition

Authors: Belverd E. Needles Jr,, Marian Powers

Question Posted: