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Midway, Inc. December 31, 2014 Goodwill 128,730 Accumulated Depreciation-Equipment 292,200 Payroll Taxes Payable 181,321 Inventory 243,530 Bonds payable 303,730 Rent payable (short-term) 48,730 Discount on
Midway, Inc. | ||||
December 31, 2014 | ||||
Goodwill | 128,730 | Accumulated Depreciation-Equipment | 292,200 | |
Payroll Taxes Payable | 181,321 | Inventory | 243,530 | |
Bonds payable | 303,730 | Rent payable (short-term) | 48,730 | |
Discount on bonds payable | 15,200 | Income taxes payable | 102,092 | |
Cash | 363,730 | Rent payable (long-term) | 483,730 | |
Land | 483,730 | Common stock, $1 par value | 203,730 | |
Notes receivable | 449,430 | Preferred stock, $10 par value | 153,730 | |
Notes payable (to banks) | 268,730 | Prepaid expenses | 91,650 | |
Accounts payable | 493,730 | Equipment | 1,473,730 | |
Retained earnings | ? | Debt investments (trading) | 124,730 | |
Income taxes receivable | 101,360 | Accumulated Depreciation-Buildings | 270,400 | |
Notes payable (long-term) | 1,603,730 | Buildings | 1,643,730 | |
Prepare a classified balance sheet in good form. Assume that notes receivable and notes payable are | ||||
short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same. |
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