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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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