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Please correct and fill in missing spaces - Your answer is partially correct. Presented below are a number of balance sheet items for Grouper, Inc.
Please correct and fill in missing spaces
- Your answer is partially correct. Presented below are a number of balance sheet items for Grouper, Inc. for the current year, 2020. Goodwill $ 126,830 Accumulated Depreciation-Equipment $292,290 Payroll Taxes Payable 179,421 Inventory 241,630 Bonds payable 301,830 Rent payable (short-term) 46,830 Discount on bonds payable 15,290 Income taxes payable 100,192 Cash 361,830 Rent payable (long-term) 481,830 Land 481,830 Common stock, $1 par value 201,830 Notes receivable 447,530 Preferred stock, $10 par value Notes payable (to banks) 266,830 Prepaid expenses 151,830 89,750 1,471,830 122,830 Accounts payable Retained earnings 491,830 Equipment ? Debt investments (trading) 99,460 Accumulated Depreciation-Buildings Income taxes receivable 270,490 Notes payable (long-term) 1,601,830 Buildings 1,641,830 Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of debt investments (trading) are the same. (List Current Assets in order of liquidity. List Property, plant and Equipment in order of Land, Building and Equipment.) GROUPER, INC. Balance Sheet For the Year Ended December 31, 2020 Assets Current Liabilities Cash 362330 Equity Investments 123330 Notes Receivable 448030 Income Tax Receivable 99960 Inventory 242130 Prepaid Expenses 90250 Total Assets $ 1366030 Property, Plant and Equipment Land Land 482330 Buildings 1646330 Accumulated Depreciation-Buildings 270446 1371884 Equipment 1472330 Less : Accumulated Depreciation Equipment 292246 1180084 D Intangible Assets Goodwill 127330 Total Assets 4527658 Liabilities and Stockholders' Equity Goodwill 127330 Total Assets 4527658 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable 492330 Notes Payable 267330 Payroll Taxes Payable 179921 Income Tax Payable 100692 Rent Payable 47330 Total Current Liabilities $ 1087603 Long-term Liabilities Notes Payable 1602330 Bonds Payable 302330 Less 4: Discount on Bonds Payable 15246 287084 Rent Payable 482330 Total Liabilities 3459347 Stockholders' Equity Capital Stock Preferred Stock 152330 Common Stock 202330 Retained Earnings 713651 Total Stockholders' Equity 4527658Step by Step Solution
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