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Check my won Required information P2-3 (Algo) Recording Transactions in T-Accounts, Preparing the Balance Sheet from a Trial Balance, and Evaluating the Current Ratio LO2-2,

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Check my won Required information P2-3 (Algo) Recording Transactions in T-Accounts, Preparing the Balance Sheet from a Trial Balance, and Evaluating the Current Ratio LO2-2, 2-4, 2.5 [The following information applies to the questions displayed below) Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) Accounts receivable Inventory Motos receivable long-tern) Equipment Tactory building Intangibles $ 27,000 Accounts payable 3,000 crued liabilities payable 4,200 Notes payable (current) 20,000 Notes payable (noncorrent) 2,100 Common stock 59,000 Additional paid-in capital 100,000 Retained earnings 3,700 $14,000 3,700 7.100 44,000 10,500 94,500 37,200 res During the current year, the company had the following summarized activities: Purchased short-term investments for $7.300 cash b. Lent 56,900 to a supplier who signed a two-year note c. Purchased equipment that cost $19,000; paid $5,100 cash and signed a one-year note for the balance 3. Hired a new president at the end of the year. The contract was for $75,000 per year plus options to purchase company stock to set price based on company performance. The new president begins her position on January e Issued on additional 1400 shares of $0.50 par valve common stock for $12,000 cash. Borrowed $15,000 cash from a local bank, payable in three months 9 Purchased a potent (on intangible asset) for $1.400 cash h. Built an addition to the factory for $26,000. paid $7.400 in cash and signed a three-year note for the balance L. Returned defective equipment to the manufacturer, receiving a cash refund of $2,400 Required information 5. Prepare a classified balance sheet at December 31 of the current year. 3 o 6 JAGUAR PLASTICS COMPANY Balance Sheet 88 bits Assets Liabilities BO Print References 0 0 0 Stockholders' Equity 0 0 0 0

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