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Presented below are a number of balance sheet items for Cullumber, Inc. for the current year, 2020. Goodwill $128,390 Accumulated Depreciation-Equipment $292,350 Payroll Taxes
Presented below are a number of balance sheet items for Cullumber, Inc. for the current year, 2020. Goodwill $128,390 Accumulated Depreciation-Equipment $292,350 Payroll Taxes Payable 180,981 Inventory 243,190 Bonds payable 303,390 Rent payable (short-term) 48,390) Discount on bonds payable 15,350 Income taxes payable 101,752 Cash 363,390 Rent payable (long-term) 483,390 Land 483,390 Common stock, $1 par value 203,390 Notes receivable 449,090 Preferred stock, $10 par value 153,390 Notes payable (to banks) 268,390 Prepaid expenses 91,310 Accounts payable 493,390 Equipment 1,473,390 Retained earnings ? Debt investments (trading) 124,390 Income taxes receivable 101,020 Accumulated Depreciation-Buildings 270,550 Notes payable (long-term) 1,603,390 Buildings 1,643,390 Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized
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