ch4-10

Assets: Land $114,000 Long-term investments in stocks $36,000 Notes receivable $26,000 accounts receivable $24,000 cash $26,000 prepaid expenses $10,800 supplies $10,200 inventory $55,000 intangible assets $15,000 accumulated depreciation $46,000 trucks $12,000 Liabilities and Equity: accounts payable $62,000 wages payable $21,000 interest payable $24,000 notes payable (due in 9years) $34,000 mortgage payable (due in 20 years) $84,000 j. carter, captial $126,000 4 tableau 1. Prepare a classified balance sheet at its December 31 year-end. (Hint: remember to include accumulated depreciation -- trucks.) 2. Assume the company had a notes recelvable of $2,000 that was to be collected within 3 months, how would it be reported on a classified balance sheet? 3. Assume Land reported in the company's accounting system is not used in operations, and is instead being held for future expansion. How should this account be reported on the balance sheet? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Prepare a classified balance sheet at its December 31 year-end. (Hint: remember to include accumulated depreciation - trucks.) JISKO Balance Sheet December 31 Assets Req 1 Req 2 and 3 Prepare a classified balance sheet at its December 31 year-end. (Hint: remember to in trucks.) JISKO Balance Sheet December 31 Assets Total current assets Long-term investments Total long-term investments Plant assets Total long-term investments Plant assets Total plant assets Total assets Liabilities as + Total current liabilities Total long-term liabilities Total liabilities Equity 2. Assume the company nag a noves receivable or 4,000 wat was to be collected witrun 3 months, now would be rep classified balance sheet? 3. Assume Land reported in the company's accounting system is not used in operations, and is instead being held for futu expansion. How should this account be reported on the balance sheet? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 tes 2. Assume the company had a notes receivable of $2,000 that was to be collected within 3 months, how would it be reported on a classified balance sheet? 3. Assume Land reported in the company's accounting system is not used in operations, and is instead being held for future expansion. How should this account be reported on the balance sheet? Show less 2 3 How would it be reported on a classified balance sheet? How should this count be reported on the balance sheet?