proctice exercice 2,6,9 intermediate accounting 1 17th edicyion chap 5

exercice 9 chap 5 intermediate accounting 1 17th edition

problem 4 chap5 intermediate accounting 17th edition

Preparation of a corrected Balance Sheet) The balance sheet Kiswaukee Corporation as of December 31, 20. is as follows Kiswaukee Corporation Balance Sheet December 31, 2020 Ats Goodwill Note 2) Buildings (Note 1) Inventory Land 1640 Accounts receivable Treasury stock (500 shares) Cash on hand Assets allocated to trust for plant expansion Cash in bank Debt investments held to maturity) 67.000 13.000 $3,663.000 Equities $ 600,000 1.150.000 Neces payable Note 3) Common stock, authorized and ved 1000000 shares the par Retained earnings Noncontrolling interest Appreciation capital (Note 1) Income taxes payable Reserve for depreciation recorded to date on the building Note: Buildings are stated at cost, except for one building that was recorded at appraised value The excess of appraisal value over cost was 570,000 Depreciation has been recorded based on cost. Note 2: Cloodwill in the amount of $120.000 was recognized because the company believed habal value was not an accurate representation of the fair value of the company. The gain of $120,000 credited to Retained Earnings. Note 3 Notes payable are long-term except for the current installment due of $100,000. Preparation of a corrected Balance Sheet) The balance sheet Kiswaukee Corporation as of December 31, 20. is as follows Kiswaukee Corporation Balance Sheet December 31, 2020 Ats Goodwill Note 2) Buildings (Note 1) Inventory Land 1640 Accounts receivable Treasury stock (500 shares) Cash on hand Assets allocated to trust for plant expansion Cash in bank Debt investments held to maturity) 67.000 13.000 $3,663.000 Equities $ 600,000 1.150.000 Neces payable Note 3) Common stock, authorized and ved 1000000 shares the par Retained earnings Noncontrolling interest Appreciation capital (Note 1) Income taxes payable Reserve for depreciation recorded to date on the building Note: Buildings are stated at cost, except for one building that was recorded at appraised value The excess of appraisal value over cost was 570,000 Depreciation has been recorded based on cost. Note 2: Cloodwill in the amount of $120.000 was recognized because the company believed habal value was not an accurate representation of the fair value of the company. The gain of $120,000 credited to Retained Earnings. Note 3 Notes payable are long-term except for the current installment due of $100,000