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Options available ^^^^ Pls Help! Preparing a Classified Balance Sheet The ledger of Bama Inc. had the following account balances on December 31, 2020. $17,100
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Preparing a Classified Balance Sheet The ledger of Bama Inc. had the following account balances on December 31, 2020. $17,100 17,280 Accounts payable Accounts receivable Accrued expenses (credit) Bonds payable, 8% 900 $59,760 Office equipment 17,100 Raw materials inventory 1,440 Allowance for bad debts 45,000 Accumulated depreciation Rent expense paid in advance on a short-term 126,000 lease 18,000 Sinking fund to retire long-term debt 16,200 Common stock ($100 par) 5,400 12,600 Cash Retained earnings (to be computed) Plant equipment Finished goods inventory Investments* 25,200 12,148 ? Land held for future plant site 56,160 Note receivable, 9%, due 2022 23,580 Work in process inventory 23,400 41,940 *Of the balance in the investments account, $7,200 will be converted to cash in the coming year; the remainder is a long-term investment. Required Prepare a classified balance sheet for Bama Inc. on December 31, 2020. Do not use negative signs with any of your answers. List investments in the order of the largest dollar amount to the smallest dollar amount. Balance Sheet As of December 31, 2020 Assets Current assets Cash $ 18,000 Accounts receivable $ 17,100 Less: Allowance for doubtful accounts 900 16,200 Short-term investments 7,000 x Inventory Raw materials 17,280 Work in process Finished goods 41,940 23,580 82,800 Investments X 7,200 x 131,200 x Total current assets Investments 25,200 X X 12,600 x 12,148 x 49,948 x Land held for future plant site Debt sinking fund Note receivable, 9% Total investments Property, plant, and equipment Office equipment Plant equipment Less: Accumulated depreciation Net property, plant, and equipment Other assets Prepaid rent Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable 17,100 56,160 16,200 57,060 X 5,400 x 243,608 x $ $ 59,760 Accrued expenses 1,440 Total current liabilities 61,200 Long-term liabilities 45,000 126,000 Bonds payable, 8% Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity >> 11,408 * 137,408 x 243,608 x $ Inventory Raw materials Work in process Inu cu Accrued expenses Bonds payable, 8% atn Debt sinking fund Lai Finished goods De Inventory No Investments ert Land held for future plant site Less: Accumulated depreciation Less: Allowance for doubtful accounts Pla ce: Net income Net property, plant and equipment ra Note receivable, 9% Pre Office equipment Prepaid rent iti Retained earnings nt Total assets Aci Total current assets as: Total current liabilities Total investments te Total liabilities and stockholders' equity Total stockholders' equity he Common stock Retained earnings Total stockholders' equity iabilities and stockholdStep by Step Solution
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