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Presented below are a number of balance sheet items for Roma, Inc. for the current year, 2017 Goodwill Payroll taxes payable Bonds payable Discount on
Presented below are a number of balance sheet items for Roma, Inc. for the current year, 2017 Goodwill Payroll taxes payable Bonds payable Discount on bonds payable $ 467,000 398,600 40,000 110,800 80,000 250,000 1,250,000 68,760 Cash $ 210,000 Accumulated depreciation-equipment 65,300 Inventory 500.000 Rent payable (short-term) 35.000 Income tax payable 61.000 Rent payable (long-term) 351.000 Common stock, $1 par value 160.500 Preferred stock. $25 par value 264.900 Prepaid expenses 347.000 Equipment ? Equity investments (trading) 45,600 Accumulated depreciation-buildings 1.300.000 Buildings Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Unsecured notes payable (long-term) 1.386,000 375,000 361,200 2,800,000 Prepare a classified balance sheet in good form. Common stock authorized was 1,000,000 shares, and preferred stock authorized was 50,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same. (List Current Assets in order of liquidity. List Property. Plant and Equipment in order of Land, Building and Equipment.) Prepare a classified balance sheet in good form. Common stock authorized was 1,000,000 shares, and preferred stock authorized was 50.000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same. (List Current Assets in order of liquidity. List Property. Plant and Equipment in order of Land, Building and Equipment.) MONTOYA, INC Balance Sheet December 31, 2017 Assets Current Assets Cash $ 610 Notes Recevable 16050 Inventory 3986 Income Tax Receivable 456 Prepaid Expenses 687 Equity Investments 37509 Total Current Assets $ Liabilities and Stockholders' Equity Long-term Liabilities Bonds Payable ta Discount on Bonds Payable Notes Payable Rent Payable wa
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