Intermediate Accounting, 15th EditionIntermediate Accounting, 15th Edition

Question 1 - Presented below is a list of accounts in alphabetical order.

Accounts Receivable Accumulated DepreciationBuildings Accumulated DepreciationEquipment Accumulated Other Comprehensive Income Advances to Employees Advertising Expense Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable Buildings Cash (in bank) Cash (on hand) Cash Surrender Value of Life Insurance Commission Expense Common Stock Copyrights Debt Investments (trading) Dividends Payable Equipment Freight-In Gain on Disposal of Equipment Interest Receivable InventoryBeginning

InventoryEnding Land Land for Future Plant Site Loss from Flood Noncontrolling Interest Notes Payable (due next year) Paid-in Capital in Excess of ParPreferred Stock Patents Payroll Taxes Payable Pension Liability Petty Cash Preferred Stock Premium on Bonds Payable Prepaid Rent Purchase Returns and Allowances Purchases Retained Earnings Salaries and Wages Expense (sales) Salaries and Wages Payable Sales Discounts Sales Revenue Treasury Stock (at cost) Unearned Subscriptions Revenue

Question : Prepare a classified balance sheet in good form. (No monetary amounts are to be shown.)

Intermediate Accounting, 15th Edition

Question 2 :

Goodwill 125,000 Payroll taxes payable 177,591

Bonds payable 300,000 Discount on bonds payable Cash 15,000 Land 480,000 Notes receivable 445,700 Notes payable (to banks) 265,000

Accounts payable490,000

Retained earnings ?

Income taxes receivable97,630

Notes payable (long-term) 1,600,000

Accumulated depreciationequipment 292,000

Inventory 239,000

Rent payable (short-term) 45,000

Income taxes payable 98,362

Rent payable (long-term) 480,000

Common stock, $1 par value 200,000

Preferred stock,$10 par value 150,000

Prepaid expenses 87,920

equipment 1,470,000

equity investment trading 121,000

accumulated depreciation buildings 270,200

buildings 1,640,000

Question : Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and pre- ferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same.