Question
Question 2 of 7 < > Current assets Cash $234,000 Accounts receivable (net) 344,000 Inventory (lower-of-cost-or-net realizable value) 405,000 Equity investments (to be sold
Question 2 of 7 < > Current assets Cash $234,000 Accounts receivable (net) 344,000 Inventory (lower-of-cost-or-net realizable value) 405,000 Equity investments (to be sold in the next year)-at cost (fair value $124,000) 144,000 Property, plant, and equipment Buildings (net) Equipment (net) 574,000 164,000 179,000 Land held for future use Intangible assets Goodwill 84,000 Held-to maturity debt investment 94,000 Prepaid expenses 16,000 Current liabilities Accounts payable 139,000 Notes payable (due next year) 129.000 Pension obligation 86,000 Rent payable Premium on bonds payable Long-term liabilities 53,000 57,000 Bonds payable 504,000 Stockholders' equity Common stock. $1.00 par, authorized 400,000 shares, issued 294,000 294,000 Paid-in capital in excess of par 164,000 Retained earnings Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $164,000 and for the equipment, $109,000. The allowance for doubtful accounts has a balance of $21.000. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question)
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