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I got a lot of it but I cant figure out most of the rest map/index.html?con-cool blaunchili Check my work mode: This shows what is
I got a lot of it but I cant figure out most of the rest
map/index.html?con-cool blaunchili Check my work mode: This shows what is correct or incorrect for the work you have completed so far, it does not in The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing you notice several errors 3 119,00 68.40 973.00 LOS GATOS CORPORATION Balance Sheet At December 11, 2021 Assets Cash Accounts receivable Crventory Machinery (net) franchise Inet) Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for collectible accounts Notes payable Sonds payable Shareholders alty Total listles and that suity 5 S 76,00 30,00 51.0 121,00 12. $ Additional information: 1. Cash includes a $33.000 restricted amount to be used for repayment of the bonds payable in 2025 O ccomplish Help Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate compl Additional information 1. Cash includes a $33,000 restricted amount to be used for repayment of the bonds payable in 2025 2 The cast of the machinery is $216.000 3. Accounts receivable includes a $33.000 notes receivable from a customer due in 2024 4. The notes payable balance includes accrued interest of $18,000. Principal and interest are both due on February 1 2022. 5. The company began operations in 2016. Net income less dividends since inception of the company totals $48.000 6.63,000 shares of no par common stock were issued in 2016. 100.000 shares are authorized Required: Prepare a corected, classified balance sheet. Use the additional information to helo determine appropriate classifications and account balances. The cost of machinery and its accumulated depreciation are shown separately (Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets 33000 on tema bronchon253A252F complish Assets Current assets Cash $ 33.000 5 Accounts receivable Allowance for uncollectible accounts Net accounts receivable 85000 (18,000) 68,000 101 000 Total current assets Investments Notes receivable $ 33,000 33 000 Total investments Property, plant, and equipment Machinery Accumulated depreciation Net property, plant, and equipment Intangible assets Franchise (net) 216.000 183 000) 133 000 13.000 3 Total soos Liabilities and Shareholders' Equity O ccomplish Help Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate compl Additional information 1. Cash includes a $33,000 restricted amount to be used for repayment of the bonds payable in 2025 2 The cast of the machinery is $216.000 3. Accounts receivable includes a $33.000 notes receivable from a customer due in 2024 4. The notes payable balance includes accrued interest of $18,000. Principal and interest are both due on February 1 2022. 5. The company began operations in 2016. Net income less dividends since inception of the company totals $48.000 6.63,000 shares of no par common stock were issued in 2016. 100.000 shares are authorized Required: Prepare a corected, classified balance sheet. Use the additional information to helo determine appropriate classifications and account balances. The cost of machinery and its accumulated depreciation are shown separately (Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Assets 33000 on tema bronchon253A252F complish Assets Current assets Cash $ 33.000 5 Accounts receivable Allowance for uncollectible accounts Net accounts receivable 85000 (18,000) 68,000 101 000 Total current assets Investments Notes receivable $ 33,000 33 000 Total investments Property, plant, and equipment Machinery Accumulated depreciation Net property, plant, and equipment Intangible assets Franchise (net) 216.000 183 000) 133 000 13.000 3 Total soos Liabilities and Shareholders' Equity
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