Excel Homework Problem Due Date September 14, 2020 by 11 59 pm An inexperienced accounting intern prepared the following December 31, 2020 Balance Sheet for Scan House, Inc Scan House, Inc Collection of Balances for Year ended 12 31 20 Other assets 13,600 Long term liabilities 24,100 Property, plant, and equipment 123,500 Current liabilities 66,600 Long term investments 13,600 Contributed capital 17,000 Intangible asset 7,700 Unrealized capital 22,500 Current assets 44,300 Retained earnings 72,500 Total assets 202,700 Total equities 202,700 The following information is also available Current assets include cash, $3,800 accounts receivable, $18,500 notes receivable (maturity date July 1, 2025), $10,000 and land, $12,000 Long term investments include a $4,600 investment in available for sale securities that are expected to be sold in 2021 and a $9,000 investment in Dray Company bonds that are expected to be held until their December 31, 2023, maturity date Property, plant, and equipment include buildings costing $63,400, inventory costing $30,500, and equipment costing $29,600 Intangible assets include patents that cost $8,200 (and on which $2,300 amortization has accumulated) and treasury stock that cost $1,800 Other assets include prepaid insurance (which expires on November 30, 2021), $2,900 sinking fund for bond retirement, $7,000 and trademarks that cost $3,700 and are not impaired Current liabilities include accounts payable, $19,400 bonds payable (maturity date December 31, 2025), $40,000 and accrued income taxes payable, $7,200 Long term liabilities include accrued wages, $4,100 and mortgage payable (which is due in five equal annual payments starting December 31, 2021), $20,000 Contributed capital includes common stock ($5 par), $11,000, authorized 20,000, issued 2,200, outstanding 2,150 and preferred stock ($100 par), $6,000, authorized 100, issued and outstanding 60 Unrealized capital includes premium on bonds payable, $4,300 additional paid in capital on preferred stock, $2,400, and additional paid in capital on common stock, $15,800 Retained earnings include unrestricted retained earnings, $37,800 allowance for doubtful accounts, $700 and accumulated depreciation on buildings and equipment of $21,000 and $13,000, respectively Required Based on the above information, prepare a properly classified December 31, 2020, balance sheet for Scan House, Inc

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Excel Homework Problem Due Date: September 14, 2020 by 11:59 pm

An inexperienced accounting intern prepared the following December 31, 2020 Balance Sheet for Scan House, Inc.

Scan House, Inc.
Collection of Balances for Year ended 12/31/20

Other assets	13,600	Long-term liabilities	24,100
Property, plant, and equipment	123,500	Current liabilities	66,600
Long-term investments	13,600	Contributed capital	17,000
Intangible asset	7,700	Unrealized capital	22,500
Current assets	44,300	Retained earnings	72,500

Total assets	202,700	Total equities	202,700

The following information is also available:

Current assets include cash, $3,800; accounts receivable, $18,500; notes receivable (maturity date July 1, 2025), $10,000; and land, $12,000.
Long-term investments include a $4,600 investment in available-for-sale securities that are expected to be sold in 2021 and a $9,000 investment in Dray Company bonds that are expected to be held until their December 31, 2023, maturity date.
Property, plant, and equipment include buildings costing $63,400, inventory costing $30,500, and equipment costing $29,600.
Intangible assets include patents that cost $8,200 (and on which $2,300 amortization has accumulated) and treasury stock that cost $1,800.
Other assets include prepaid insurance (which expires on November 30, 2021), $2,900; sinking fund for bond retirement, $7,000; and trademarks that cost $3,700 and are not impaired.
Current liabilities include accounts payable, $19,400; bonds payable (maturity date December 31, 2025), $40,000; and accrued income taxes payable, $7,200.
Long-term liabilities include accrued wages, $4,100; and mortgage payable (which is due in five equal annual payments starting December 31, 2021), $20,000.

Contributed capital includes common stock ($5 par), $11,000, authorized 20,000, issued 2,200, outstanding 2,150; and preferred stock ($100 par), $6,000, authorized 100, issued and outstanding 60.
Unrealized capital includes premium on bonds payable, $4,300; additional paid-in capital on preferred stock, $2,400, and additional paid-in capital on common stock, $15,800.
Retained earnings include unrestricted retained earnings, $37,800; allowance for doubtful accounts, $700; and accumulated depreciation on buildings and equipment of $21,000 and $13,000, respectively.

Required:

Based on the above information, prepare a properly classified December 31, 2020, balance sheet for Scan House, Inc.