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hi I need help answering the following question The following is the ending balances of accounts at December 31, 2021. for the Vosburgh Electronics Corporation.
hi I need help answering the following question
The following is the ending balances of accounts at December 31, 2021. for the Vosburgh Electronics Corporation. Credits Account Title Cash Short-term investments Accounts receivable Long-term investments Inventory Receivables from employees Prepaid expenses (for 2822) Land Building Equipment Patent (net) Franchise (net) Notes receivable Interest receivable Accumulated depreciation-building Accumulated depreciation equipment Accounts payable Dividends payable (payable on 1/16/2022) Interest payable Income Taxes payable Deferred revenue Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits 93,000 208, 880 149,000 48,000 228,000 53,000 29,090 299,000 1,680,000 65e, Bee 165,809 53,000 315,000 25,000 633, eee 223,000 202,000 23,000 29,000 53,000 73,eee 326,00 21,000 2,852, Bee 354.000 3,989,000 3,989,000 Additional Information: 1. The common stock represents 10 million shares of no par stock authorized, 630,000 shares issued and outstanding 2. The receivables from employees are due on June 30, 2022 3. The notes receivable are due in installments of $63,000. payable on each September 30. Interest is payable annually. 4. Short-term investments consist of securities that the company plans to sell in 2022 and $63.000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2022 Long-term Investments consist of securities that the company does not plan to sell in the next year. 5. Deferred revenue represents payments from customer for extended service contracts Eighty percent of these contracts expire in 2022, the remainder in 2023 6. Notes payable consists of two notes, one for $113,000 due on January 15, 2023. and another for $213.000 due on June 30, 2024 The following is a December 31, 2021. post-closing trial balance for Culver City Lighting, Inc Denis $ 75,00 59,00 55, 15e, Account Title Cash Accounts receivable Inventory Prepaid Insurance Equipment Accumulated depreciation Patent (net) Accounts payable Interest payable Notes payable (due in le years) Comon stock Retained earnings Totals $ 54,00 22,000 12,000 238, cee se, se 66, eee $454, see $454,000 Prepare a classified balance sheet for Culver City Lighting, Inc. (Amounts to be deducted should be indicated by a minus sign. CULVER CITY LIGETING INC Falance Sheet Al December 31, 2021 Assets Current Tal current Property, plant and equipment 3 Net property and court Intangible assets Toc 5 Lilities and Shareholders' Equity Currentes Tourette Step by Step Solution
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