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Problem 3-6 (Algo) Balance sheet preparation; disclosures [LO3-2, 3-3, 3-4] The following is the ending balances of accounts at December 31, 2021, for the
Problem 3-6 (Algo) Balance sheet preparation; disclosures [LO3-2, 3-3, 3-4] The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation. Account Title Cash Short-term investments Debits Credits 81,000 196,000 Accounts receivable Long-term investments Inventory Receivables from employees Prepaid expenses (for 2022) 137,000 42,000 222,000 47,000 23,000 287,000 Land Building Equipment Patent (net) Franchise (net) Notes receivable Interest receivable Accumulated depreciation-building Accumulated depreciation-equipment Accounts payable Dividends payable (payable on 1/16/2022) Interest payable Income Taxes payable Deferred revenue Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals 1,620,000 644,000 159,000 47,000 285,000 19,000 627,000 217,000 196,000 17,000 23,000 47,000 67,000 314,000 15,000 2,028,000 258,000 3,800,000 1,809,000
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