Secil yatenda on December 31st, 20X1. In good form, prepare a corrected classified balance sheet for Skotch Inc. (You can omit the statement Liabilities: 90 Short-term Debt 200 110 accumulated Depreciation Sorte nestments 140 Allowance for Bad Debts 12 135 Accounts Payable 110 60 Long-term Debt 290 1.800 Accumulated Other Comprehensive Income 33 50 Total Liabilities 1,145 320 2.705 Stockholders' Equity Retained Earnings 360 Paid in Capital 1.200 Total Stockholders. Equity 1.560 Total Liabilities and Stockholders' Equity 2,705 Related Information: 1. Short-term investments includes: -S130 of Trading Debt Securities -S10 of accred interest due to Skotch from the Trading Debt Securities. 2. PP&E includes $50 of equipment that was retired during 20X1. The retired equipment is 90% depreciated and Skotch expects to sell it in 20X3 3. Intangible Assets includes: $20 for Copyrights -$30 for Goodwill. The value of Goodwill is based on an estimate made by the CFO. 4. Investments includes: 530 for Goodwill. The value of Goodwill is based on an estimate made by the CFO. vestments includes 5170 Bond Sinking Fund that was set up 8 years ago to pay off the Bonds Payable when they mature (see #6 below) 3130 of Pension Assets The Stoo lance of Short-term Debt includes an $80 Note Payable due on March 15th of 20X2 and a $120 Note Payable dise on June 20th of 20x4 6. Long-term Debt consists of a 5170 Bond Payable due on August 1" of 20x2 (see #4 above) and a $120 Pension Liability In oth currently has 500 shares of $2 par common stock authorized. 200 shares were issued for 56/share. Secil yatenda on December 31st, 20X1. In good form, prepare a corrected classified balance sheet for Skotch Inc. (You can omit the statement Liabilities: 90 Short-term Debt 200 110 accumulated Depreciation Sorte nestments 140 Allowance for Bad Debts 12 135 Accounts Payable 110 60 Long-term Debt 290 1.800 Accumulated Other Comprehensive Income 33 50 Total Liabilities 1,145 320 2.705 Stockholders' Equity Retained Earnings 360 Paid in Capital 1.200 Total Stockholders. Equity 1.560 Total Liabilities and Stockholders' Equity 2,705 Related Information: 1. Short-term investments includes: -S130 of Trading Debt Securities -S10 of accred interest due to Skotch from the Trading Debt Securities. 2. PP&E includes $50 of equipment that was retired during 20X1. The retired equipment is 90% depreciated and Skotch expects to sell it in 20X3 3. Intangible Assets includes: $20 for Copyrights -$30 for Goodwill. The value of Goodwill is based on an estimate made by the CFO. 4. Investments includes: 530 for Goodwill. The value of Goodwill is based on an estimate made by the CFO. vestments includes 5170 Bond Sinking Fund that was set up 8 years ago to pay off the Bonds Payable when they mature (see #6 below) 3130 of Pension Assets The Stoo lance of Short-term Debt includes an $80 Note Payable due on March 15th of 20X2 and a $120 Note Payable dise on June 20th of 20x4 6. Long-term Debt consists of a 5170 Bond Payable due on August 1" of 20x2 (see #4 above) and a $120 Pension Liability In oth currently has 500 shares of $2 par common stock authorized. 200 shares were issued for 56/share
