Answered step by step
Verified Expert Solution
Link Copied!

Question

00
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

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$265,000

Retained earnings159,400

Cash16,000

Bonds payable136,000

Accounts receivable55,000

Plant and equipmentoriginal cost720,000

Accounts payable49,000

Allowance for bad debts6,600

Common stock, 100,000 shares outstanding186,000

Inventory80,000

Preferred stock, 1,000 shares outstanding70,000

Marketable securities20,000

Investments24,000

Notes payable43,000

Balance Sheet

AssetsLiabilities and Shareholders Equity

Current Assets: Current Liabilities:

(Click to select) Cash Investments Accounts payable Accumulated amortization Plant and equipment $ (Click to select) Marketable securities Accounts payable Bonds payable Cash $

(Click to select) Investments Accounts payable Preferred stock Plant and equipment Marketable securities (Click to select) Notes payable Preferred stock Interest payable Bonds payable Common stock

(Click to select) Bonds payable Accounts receivable Plant and equipment Investments Retained earnings $

(Click to select) Plant and equipment Less: Accumulated amortization Inventory Investments Less: Allowance for bad debts Total current liabilities

Long-term liabilities

(Click to select) Cash Investments Less: Accumulated amortization Inventory Plant and equipment (Click to select) Common stock Preferred stock Capital paid in excess of par Retained earnings Bonds payable

Total current assets Total liabilities

Other Assets: Shareholders Equity:

(Click to select) Inventory Less: Allowance for bad debts Less: Accumulated amortization Investments Cash (Click to select) Preferred stock Bonds payable Plant and equipment Notes payable

Capital assets: (Click to select) Common stock Bonds payable Plant and equipment Notes payable

(Click to select) Investments Marketable securities Accounts receivable Cash Plant and equipment (Click to select) Accounts receivable Accounts payable Cash Retained earnings Bonds payable

(Click to select) Marketable securities Less: Allowance for bad debts Accounts receivable Bonds payable Less: Accumulated amortization

Net plant and equipment Total shareholders equity

Total assets $ Total liabilities and shareholders equity$

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions