Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me input this on a balance sheet PRONGHORN COMPANY BALANCE SHEET FOR THE YEAR ENDED 2017 Current assets $234,000 344,000 405,000 144,000 Accounts

image text in transcribedplease help me input this on a balance sheet

PRONGHORN COMPANY BALANCE SHEET FOR THE YEAR ENDED 2017 Current assets $234,000 344,000 405,000 144,000 Accounts receivable (net) Equity investments (marketable)-at cost (fair value $124,000) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use 574,000 164,000 179,000 Intangible assets 84,000 94,000 16,000 Cash surrender value of life insurance Prepaid expenses Current liabilities Accounts payable Notes payable (due next year) Pension obligation Rent payable Premium on bonds payable 139,000 129,000 86,000 53,000 57,000 Long-term liabilities Stockholders' equity shares, issued 294,000 Bonds payable 504,000 Common stock, $1.00 par, authorized 400,000 294,000 164,000 Additional paid-in capital Retained earnings Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $164,000 and for the equipment, $109,000. The alowance for doubtful accounts has a balance of $21,000. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Agile Audit Transformation And Beyond

Authors: Toby DeRoche

1st Edition

1032062894, 978-1032062891

More Books

Students also viewed these Accounting questions

Question

=+ (a) Show that if P( An B) Answered: 1 week ago

Answered: 1 week ago

Question

Explain all drawbacks of the application procedure.

Answered: 1 week ago

Question

Determine Leading or Lagging Power Factor in Python.

Answered: 1 week ago