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Cone Corporation is in the process of preparing its December 31, 2021, balance sheet. There are some questions as to the proper classification of

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Cone Corporation is in the process of preparing its December 31, 2021, balance sheet. There are some questions as to the proper classification of the following Items: a. $69,000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2025 b. Prepaid rent of $43,000, covering the period January 1, 2022, through December 31, 2023 c Notes payable of $238,000 The notes are payable in annual Installments of $39,000 each, with the first installment payable on March 1, 2022 d. Accrued interest payable of $31.000 related to the notes payable e. Investment in equity securities of other corporations, $118.000. Cone intends to sell one-half of the securities in 2022 Required: Prepare the asset and liability sections of a classified balance sheet to show how each of the above items should be reported. CONE CORPORATION Balance Sheet (Partial At December 31, 2021 Assets Current assets Investments Other assets: Current Sabilities: Long-term Sabilities Liabilities and Shareholders' Equity

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