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Dalance Sheet For year ended December 31, 20X4 Fixed Assets: Land held for Future use Furniture to be sold Machinery (net of Depreciation) Buildings Accumulated Depreciation $150,000 650,000 440,000 Land $900,000 940,000 Sub Total (40,000) 110,000 Intangibles Assets: $1,310,000 Sign Trade name Goodwill created from appraisal) Sub Total $ 30,000 120,000 160,000 310,000 Current Assets: Supplies Prepaid Rent (for 3 years) Cash (An overdraft) Petty Cash Accounts Receivable (Net) $ 14,000 120,000 (4,000) 5,000 216,000 Sub Total 241,000 Investments: Bonds Payable Trading Securities to be sold in 3 months) Long Term investment Sub Total $ 100,000 240,000 160,000 500,000 Her Assets: Sinking Fund Cash Cash Surrender Value of Life Insurance Sub Total $ 80,000 60,000 mets 140,000 $2,501,000 Liabilities Long Term Debt Accumulated Depreciation Land - Accounts Payable Salary Payable Unearned Revenue Sub Total 5840.000 30.000 110,000 20.000 70,000 $1,070,000 Owners Equity John Jones Capital (initial investment) Common Stock $4 par (150,000 shares issued) Padi in Capital excess of Par Treasury Stock at cost Income Tax Due Deferred Tax Asset Dividends Retained Earnings Sub Total $240.000 400,000 500,000 20,000 40,000 (10,000) 50,000 191.000 $1,431,000 $2,501,000 Total Liabilities and Stockholders Equity * Land decreased in value Fris is the only footnote provided