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Presented below are a number of balance sheet items for Marigold, Inc., for the current year, 2017. Goodwill $128,190 Accumulated Depreciation-Equipment $292,170 Payroll Taxes Payable
Presented below are a number of balance sheet items for Marigold, Inc., for the current year, 2017.
Goodwill | $128,190 | Accumulated Depreciation-Equipment | $292,170 |
Payroll Taxes Payable | 180,781 | Inventory | 242,990 |
Bonds payable | 303,190 | Rent payable (short-term) | 48,190 |
Discount on bonds payable | 15,170 | Income taxes payable | 101,552 |
Cash | 363,190 | Rent payable (long-term) | 483,190 |
Land | 483,190 | Common stock, $1 par value | 203,190 |
Notes receivable | 448,890 | Preferred stock, $10 par value | 153,190 |
Notes payable (to banks) | 268,190 | Prepaid expenses | 91,110 |
Accounts payable | 493,190 | Equipment | 1,473,190 |
Retained earnings | ? | Equity investments (trading) | 124,190 |
Income taxes receivable | 100,820 | Accumulated Depreciation-Buildings | 270,370 |
Notes payable (long-term) | 1,603,190 | Buildings | 1,643,190 |
Prepare a classified balance sheet in good form. Common stock authorized was400,000shares, and preferred stock authorized was20,000shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same.
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