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Please Fill in all parts Presented below are a number of balance sheet items for Sunland, Inc., for the current year, 2017. Goodwi $ 127,700
Please Fill in all parts
Presented below are a number of balance sheet items for Sunland, Inc., for the current year, 2017. Goodwi $ 127,700 Accumulated depreciation-Equipment $ 292,160 Payroll Taxes payable 242,500 Bonds payable 47,700 Discount on bonds payable 101,062 Cash 482,700 Land 202,700 180,291 Inventory 302,700 Rent payable (short-term) 15, 160 Income taxes payable 362,700 Rent payable (long-term) 482,700 Common stock, $1 par value 448,400 Preferred stock, $10 par value 267,700 Prepaid expenses 492,700 Equipment ? Equity investments (trading) 100,330 Accumulated depreciation-Buildings Notes receivable 152,700 90,620 1,472,700 Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable 123,700 270,360 Notes payable (long-term) 1,602,700 Buildings 1,642,700 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 equity investments (trading) are the same. (List Current Assets in order of liquidity. List Property, plant and Equipment in order of Land, Building and Equipment.)Step by Step Solution
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