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Presented below are a number of balance sheet items for Culver, Inc., for the current year, 2017. Goodwill $128,030 Accumulated Depreciation-Equipment $292,270 Payroll Taxes Payable
Presented below are a number of balance sheet items for Culver, Inc., for the current year, 2017. Goodwill $128,030 Accumulated Depreciation-Equipment $292,270 Payroll Taxes Payable 180,621 Inventory 242,830 Bonds payable 303,030 Rent payable (short-term) 48,030 Discount on bonds payable 15.270 Income taxes payable 101,392 Cash 363,030 Rent payable (long-term) 483,030 Land 483,030 Common stock, $1 par value 203,030 Notes receivable 448,730 Preferred stock, $10 par value 153,030 Notes payable (to banks) 268,030 Prepaid expenses 90,950 Accounts payable 493,030 Equipment 1,473,030 Retained earnings Debt investments (trading) 124,030 Income taxes receivable 100,660 Accumulated Depreciation-Buildings 270,470 Notes payable (long-term) 1,603,030 Buildings 1,643,030 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 the order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment.) CULVER, INC. Balance Sheet Assets Liabilities and Stockholders' Equity
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