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The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation Account Title Cash Short-term investments Accounts receivable Long-term
The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation Account Title Cash Short-term investments Accounts receivable Long-term investments Inventory Receivables from employees Prepaid expenses (for 2822) Land Building Equipment Patent (net) Franchise (net) Notes receivable Interest receivable Accumulated depreciation-building Accumulated depreciation equipment Accounts payable Dividends payable (payable on 1/16/2822) Interest payable Income Taxes payable Deferred revenue Notes payable Allowance for uncollectible accounts Connon stock Retained earnings Totals Debits Credits 69, eee 184,800 125,00 36,00 216,000 41,000 17,280 281, eee 1,560,000 638,00 153,600 41,888 255,000 13,000 621, eee 211,000 190,000 11,000 17,00 41,eee 61,000 382.ee 9,000 2,084,800 162,000 3,629,808 3,629,888 Additional information: 1. The common stock represents 1.1 million shares of no par stock authorized, 510.000 shares issued and outstanding. 2. The receivables from employees are due on June 30, 2022 3. The notes recevable are due in installments of $51.000 payable on each September 30. Interest is payable annually. 4. Short-term Investments consist of securities that the company plans to sell in 2022 and $51.000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2022. Long-term Investments consist of securities that the company does not plan to sell in the next year. 5. Deferred revenue represents payments from customer for extended service contracts. Seventy five percent of these contracts expire in 2022, the remainder in 2023 6. Notes payable consists of two notes, one for $101.000 due on January 15, 2023, and another for $201.000 due on June 30, 2024. Required: Prepare a classified balance sheet for Vosburgh at December 31, 2021. (Amounts to be deducted should be indicated by a minus slgn.) Balance that At December 31, 2021 Accets Current assots Not accounts receivable Total current Investments Total investments Property, plant, and equipment Net property, plant, and equipment Intangible assets: Total intangible at Total assets Liabila and Shareholders' Equity Currentabilt Total current abilities Long-term bles Total long-termiabilities Tables Shareholders aquity Total shareholders equity Total abilities and shareholders equity
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