Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Arrange the following items in proper balance sheet presentation (Be sure to list the assets in order of their liquidity. Input all answers as positive

image text in transcribed
image text in transcribed
Arrange the following items in proper balance sheet presentation (Be sure to list the assets in order of their liquidity. Input all answers as positive values.) Accumulated amortization Retained earnings Cash Bonds payable Accounts receivable plant and equipment-original cost Accounts payable Allowance for bad debts Common stock, 100,000 shares outstanding Inventory Preferred stock, 1,000 shares outstanding Marketable securities Investments Notes payable (6 months) $275,000 160,000 18,000 136,000 56,000 740.000 51,000 7,000 190,000 82,000 75,000 20,000 26,000 48,000 Balance Sheet Assets 18000 Current Assets Cash Marketable securities Accounts receivable Less Allowance for bad debto Liabilities and Shareholders Equity Current liabilities: Accounts payable Notes payable v 20000 56000 (2000) 49000 Total current liabilities Long term liabilities Bonds Bavable Inventory 020001 Balance Sheet Assets V Liabilities and Shareholders Equity Current Liabilities: Accounts payable Notes payable Current Assets Cash Marketable securities Accounts receivable Less Allowance for bad debts $ 18000 20000 $ 56000 (7000) 49000 Total current liabilities Long term liabilities Bonds payable Inventory 82000 169000 Total current assets Other Assets Investments Capital assets: Plant and equipment Less Accumulated amortization 26000 Total liabilities Shareholders Equity Preferred stock Common stock Retained earnings Net plant and equipment Total shareholders' equity Total assets otal liabilities and shareholders equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Financial Planning

Authors: Lawrence J. Gitman, Michael D. Joehnk

11th Edition

0324422865, 978-0324422863

More Books

Students also viewed these Finance questions