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please solve, will upvote Required information [The following information applies to the questions displayed below] Exquisite Jewelers is developing its annual financial statements for the
please solve, will upvote
Required information [The following information applies to the questions displayed below] Exquisite Jewelers is developing its annual financial statements for the current year. The following amounts were correct at December 31, current year; cash, $58,900; accounts receivable, $72,000; merchandise inventory, $156,000; prepaid insurance, $1,600; investment in stock of Z Corporation (long-term), $37,000; store equipment, $69,000; used store equipment held for disposal, $9,400; accumulated depreciation, store equipment, $19,200; accounts payable, $53,500; long-term note payable, $43,000; income taxes payable, $10,000; retained earnings, $166,000; and common stock. 102,000 shares outstanding, par value $1.00 per share (originally sold and issued at $1.10 per share). required: Based on these data, prepare a December 31, current year, balance sheet. Note: Amounts to be deducted should be indicated by a minus sign. Required information 1 1) Required information Step by Step Solution
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