Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Presented below are a number of satance sheet items for Martinez Inc. for the current year, 2020 Goodwill $.128.160 Accumulated Depreciation Equipment $ 292,390 Payroll

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Presented below are a number of satance sheet items for Martinez Inc. for the current year, 2020 Goodwill $.128.160 Accumulated Depreciation Equipment $ 292,390 Payroll Taxes Payable 180,751 Inventory 242.960 Bonds payable 303.160 Rent payable (short-term) 48.160 Discount on bonds payable 15.390 Income taxes payable 101.522 Cash 363.160 Rent payable long-term) 483,160 Land 483,160 Common stock, 51 par value 203,160 Notes receivable 448.860 Preferred stock. $10 par value 153,160 Notes payable to banks 268.160 Prepaid expenses 91.080 Accounts payable 493,160 Equipment 1.473.160 Land 183,160 Common stock. Si par value 2010 Notes receivable 448 860 Preferred stock $10 par value 153.160 Notes payable to bank) 263, 160 Prepaid expenses 91.000 Accounts payable 493,160 Equipment 1473160 Retained earnings Debt investments trading 124160 Income taas receivable 100.790 Accumulated Depreciation Buildings 270.590 Notes payable long term 1603160 Buildings 1645.160 Prepare a classified balance sheet in good form. Common stock authorized was 400.000 shares and preferred stoc authorized was 20000 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 order of liquidity. List Property Plant and Equipment in order of Land Building and Equipment) MARTINEZ, INC. 10 AM Prepare a classified balance sheet in good form Common stock authorized was 100.000 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. (st Current Assets in order of liquidity. Lint Property Plant and Equipment in order of Land Building and Equipment MARTINEZ, INC. Balance Sheet December 31, 2020 Assets Current Assets 35100 Louity Assets Current Assets Cash 363160 Equity Investment 124560 Notes Receivable BLO Income Tax Receivable 100790 Inventory 242960 91050 Precold Expenses Total Current Assets Property. Plant and Equipment Land 483160 Equipment 1473169 Accumulated Depreciation Equipment 15390 14577 Buildings 1643160 Les Accumulated Depreciation-Buildings 270590 1372570 Total Property Plant and Equipment = Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Notes Payable Payroll Taxes Payable Income Tax Payable Rent Payable Total Current is Long-term Liabilities Long term this Notes Payable Bonds Payable Les Discount on Bonds Payable Rent Payable Total Liabilities Stockholders Email stock Proterred stuch share

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting Principles And Applications

Authors: Hugh Coombs, D Ellis Jenkins, David Hobbs

1st Edition

1412908434, 978-1412908436

More Books

Students also viewed these Accounting questions