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Question 9 Slurm Incorporated had the following account balances for the year ended December 31, 2020. All accounts have normal balances. Accounts payable Accounts receivable
Question 9 Slurm Incorporated had the following account balances for the year ended December 31, 2020. All accounts have normal balances. Accounts payable Accounts receivable Accumulated depreciation, buildings Accumulated depreciation, equipment Bonds payable (additional information 1) Buildings Cash Common shares (additional information 2) Copyright Equipment Income tax payable Inventory Land (additional information 3) Notes payable (additional information 4) Preferred shares (additional information 5) Prepaid rent Retained earnings (additional information 6) Wages payable $ 5,000 8,800 235,410 75,300 771,000 784,700 9,500 360,000 12,100 125,500 9,300 43,300 1,838,000 509,700 40,000 8,100 ? 9,000 Additional information: 1. Bonds payable are due in 5 years 2. There are unlimited common shares authorized, and 60,000 issued 3. This number includes 2 parcels of land of equal value. One is currently being used in operations, the other is not 4. The notes payable are due to be paid on November 25, 2021 5. There are 40,000 preferred shares authorized, and 10,000 issued 6. You will have to calculate the retained earnings number to make your financial statement balance Prepare a classified balance sheet in good form
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