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Presented below is the adjusted trial balance for XYZ Company at December 31, 2020, along with some additional information. Given the following information, prepare in
Presented below is the adjusted trial balance for XYZ Company at December 31, 2020, along with some additional information. Given the following information, prepare in proper form a classified balance sheet as of December 31, 2020.
CR $ DR Cash $ 16,980 Accounts Receivable 5,150 Allowance for Doubtful Accounts 225 Available-for-sale Investment Securities 15,880 Prepaid Rent 5,000 Equipment 105,100 Accumulated Depreciation 22,500 Patents 12,000 Acounts Payable 3,600 Unearned Revenue 1,750 Interest Payable 2,300 Bonds Payable 72,120 Common Stock ($1 par) 18,000 Accumulated Other Comprehensive Income 9,800 Retained Earnings 21,785 Equity Attributable to non-controlling interests 2,150 Service Revenue 100,000 Salaries and Wages Expense 74,000 Rent Expense 16,000 Interest Expense 5,000 Unrealized Holding Gain, net of tax 880 Total $ 255,110 $ 255,110 Additional information: Net income was $5,000 for the year, $550 of which was attributable to noncontrolling interests. Other comprehensive income for the year was $880Step by Step Solution
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