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balance sheet data: Accounts payable $ 194,300 Accounts receivable 545,000 Accumulated depreciationoffice buildings and equipment 1,580,000 Accumulated depreciationstore buildings and equipment 4,126,000 Allowance for doubtful
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Prepare a balance sheet in report form as of December 31, 2016 from the date given above. You are not required to present the details of Preferred and Common Stock (i.e., number of shares authorized, issued and outstanding).
Available-for-sale investments should be reported as a single asset on the balance sheet, regardless of how many accounts exist in the ledger for such assets. | |
Recall that current assets are to be reported in order of liquidity. Available-for-sale investments are considered to be more liquid that accounts receivable. | |
Report fixed assets and paid-in capital accounts in account-number order. | |
Omit the description of bonds and stocks (i.e., percentage rates, due date, number of shares, etc.) | |
Enter all amounts as positive numbers, with one exception: If an unrealized loss has occurred, it must be reported as a negative amount on the balance sheet. |
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