The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing Company Credits $ Debits 99,000 194,000 302.000 182,000 354,000 $ 127,000 Account Title Cash Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation Investments Accounts payable Interest payable Deferred revenue Income taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals 174,000 77,000 37,000 97,000 47,000 285,000 33,000 417,000 185.000 $1,305,000 $1,305,000 Additional information: 1. Prepaid expenses include $154,000 paid on December 31, 2021. for a two-year lease on the building that houses both the administrative offices and the manufacturing facility 2. Investments include $47.000 in Treasury bills purchased on November 30, 2021. The bills mature on January 30, 2022. The remaining $127.000 is an investment in equity securities that the company intends to sell in the next year to search Chp Totals $1,305,000 $1,305,000 Additional information: 1. Prepaid expenses include $154,000 paid on December 31, 2021, for a two-year lease on the building that houses both the administrative offices and the manufacturing facility. 2. Investments include $47,000 in Treasury bills purchased on November 30, 2021. The bills mature on January 30, 2022. The remaining $127.000 is an investment in equity securities that the company intends to sell in the next year. 3. Deferred revenue represents customer prepayments for magazine subscriptions. Subscriptions are for periods of one year or les 4. The notes payable account consists of the following: a. a $57.000 note due in six months. b. a $138,000 note due in six years. c. a $90,000 note due in three annual installments of $30,000 each with the next installment due August 31, 2022 5. The common stock account represents 417.000 shares of no par value common stock issued and outstanding. The corporation ha 834,000 shares authorized Required: Prepare a classified balanced sheet for the Weismuller Publishing Company at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) WEISMULLER PUBLISHING COMPANY Balance Sheet O to search Saved WEISMULLER PUBLISHING COMPANY Balance Sheet At December 31, 2021 Assets Current assets Cash and cash equivalents Investment in equity securities Accounts receivable Allowance for uncollectible accounts Net accounts receivable Inventory Prepaid expenses 0 0 Total current assets Property, plant, and equipment Equipment Accumulated depreciation Net property, plant and equipment Other assets 03 i Saved UU Income taxes payable Notes payable (current) Notes payable (current maturities of long-term debt) 0 ed Total current liabilities Long-term liabilities: Notes payable (current) ok 0 Total liabilities Shareholders' equity Common stock Retained earnings 0 Total shareholders' equity Total liabilities and shareholders' equity S 0 . ere to search O 2
