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The following is the ending balances of accounts at December 31, 2016, for the Weismuller Publishing Company Account Title Debits 75,000 170,000 290,000 158,000 330,000
The following is the ending balances of accounts at December 31, 2016, for the Weismuller Publishing Company Account Title Debits 75,000 170,000 290,000 158,000 330,000 Cash Accounts receivable Inventories Machinery and equipment Accumulated depreciation-equipment 115,000 150,000 payable Interest payable Deferred revenue Taxes payable Notes payable Allowance for uncollectible accounts Common stock 65,000 25,000 85,000 35,000 225,000 21,000 405,000 197,000 Totals 1,173,000 1,173,000 Additional information: 1. Prepaid expenses include $130,000 paid on December 31, 2016, for a two-year lease on the building 2. Investments include $35,000 in Treasury bills purchased on November 30, 2016. The bills mature on 3. Deferred revenue re 4. The notes payable account consists of the following: that houses both the administrative offices and the manufacturing facility. January 30, 2017. The remaining $115,000 includes investments in marketable equity securities that the company intends to sell in the next year. nts customer prepayments for magazine subscriptions. Subscriptions are for periods of one year or less. a. a $45,000 note due in six months. b. a $105,000 note due in six years. c. a $75,000 note due in three annual installments of $25,000 each, with the next installment due August 31 2017
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