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PLEASE PROVIDE STEPS WITH EXPLANATION AND ANSWERS. THANK YOU! I POSTED THE LEFT SIDE AND RIGHT SIDE OF THE QUESTIONS. Presented below are a number
PLEASE PROVIDE STEPS WITH EXPLANATION AND ANSWERS. THANK YOU! I POSTED THE LEFT SIDE AND RIGHT SIDE OF THE QUESTIONS.
Presented below are a number of balance sheet items for Ivanhoe, Inc. for the current year, 2020. Goodwill Payroll Taxes Payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) $ 128,160 180,751 303,160 15,390 363,160 483,160 448,860 268,160 493,160 ? 100,790 1,603,160 Accumulated Depreciation-Equipment Inventory Rent payable (short-term) Income taxes payable Rent payable (long-term) Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment Debt investments (trading) Accumulated Depreciation-Buildings Buildings $ 292,390 242,960 48,160 101,522 483,160 203,160 153,160 91,080 1,473,160 124,160 270,590 1,643,160 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.) IVANHOE, INC. Balance Sheet V Assets $ $ v Liabilities and Stockholders' Equity $ $ > > > IVANHOE, INC. Balance Sheet Assets $ $ $ $ Liabilities and Stockholders' Equity $ $ $Step by Step Solution
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