The accountant at Dark Daze, Inc. suddenly quit on December 31, 2015, leaving behind a mess. You managed to find the following information:

Questions

1. Prepare the firms classified balance sheet for 2015.
2. Ebony Dark, the CEO of Dark Daze, is concerned about the types of disclosures that the firm needs for its balance sheet items. Discuss the disclosures that the firm needs to make for: (1) Inventories; (2) Accounts Receivable; (3) Property, Plant, and Equipment; (4) Bonds Payable; and (5) Common Stock.

The accountant at Dark Daze, Inc. suddenly quit on December 31, 2015, leaving behind a mess. You managed to find the following information: Accum. Repr.- Building $15,000 Interest Payable 600 Accum. Depr.- Equipment 10,000 Inventory $102,000 Accounts Receivable 2,000 Land 137,320 Allowance for Bad Debt 140 Notes Payable (due 7/1/16) 14,400 Bonds Payable (due 12/31/20)_78,000 Prepaid Advertising 5,000 Buildings 80,400 Retained Earnings Cash 30,000 Salaries Payable 900 Common Stock 60,000 Taxes Payable 3,000 Equipment 40,000 Questions A. Prepare the firm's classified balance sheet for 2015. B. Ebony Dark, the CEO of Dark Daze, is concerned about the types of disclosures that the firm needs for its balance sheet items. Discuss the disclosures that the firm needs to make for: (1) Inventories; (2) Accounts Receivable; (3) Property, Plant, and Equipment; (4) Bonds Payable; and (5) Common Stock