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Part II To follow is the balance sheet for Near Term. Ltd. It was prepared hastily by a non- Hamline accounting major during an unsupervised
Part II To follow is the balance sheet for Near Term. Ltd. It was prepared hastily by a non- Hamline accounting major during an unsupervised internship (numerical values are correct). Prepare a classified balance sheet in good form and include current assets, current liabilities, total assets, total liabilities and total liabilities and OE Near Term, Ltd. For the period ending December 31, 2020 Cash $20,000 Accounts Payable S29,000 Intangibles 36,000 Accumulated Depreciation 1.000.000 ST Note Payable 15,000 ST Investments 75,000 LT Note Payable 1.200,000 LT Investments 180,000 Supplies 9.500 Mortgage Payable 187,000 Equipment 2.440,000 Prepaid Insurance 54,000 Land 220.500 Wage Payable 7,500 Interest Payable 14,000 Income Tax Payable 99,500 Accounts Receivable 1.130,000 Bonds Payable 1,480,000 Unearned Revenue 4.000 OE-Capital 129.000 Total Assets $4.929.000 Total Liabilities and OE 33.241.000 3
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