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Libby Corporation reports the following on December 31, 2024: Cash Investment in equity securities (short-term) Accounts receivable Prepaid insurance Inventory Land (used in operations) Buildings
Libby Corporation reports the following on December 31, 2024: Cash Investment in equity securities (short-term) Accounts receivable Prepaid insurance Inventory Land (used in operations) Buildings (net) Equipment (net) Patent (net) Accounts payable Notes payable (due next year) Interest payable Bonds payable (due in 10 years) Common stock Retained earnings Current assets: Total current assets LIBBY CORPORATION Balance Sheet December 31, 2024 Amount Required: Prepare a balance sheet for Libby Corporation on December 31, 2024. Be sure to properly classify assets, liabilities, and equity accounts. Note: Enter your answers in the order of their liquidity. Assets 26,500 63,000 30,500 3,000 140,000 53,000 122,000 106,500 9,000 41,500 73,000 14,000 160,000 203,000 62,000 Drov 0 11 of 16 Next >
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