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The following items are taken from the financial statements of Blossom Company at December 31, 2022. Current Attempt in Progress The following items are taken
The following items are taken from the financial statements of Blossom Company at December 31, 2022.
Current Attempt in Progress The following items are taken from the financial statements of Blossom Company at December 31, 2022. Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2023) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2022) Accumulated depreciation-buildings Accounts payable Mortgage payable Accumulated depreciation-equipment Interest payable Income taxes payable Patents Investments in stock (long-term) Debt investments (short-term) $197,100 21,800 9,800 11,950 82,800 262,400 46,450 5,000 13,200 80,000 496,000 34,100 10,500 88,950 18,850 3,400 15,000 46,600 71,500 4,600 Prepare a classified balance sheet. Assume that $9,700 of the mortgage payable will be paid in 2023. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings, Equipment and Land Improvements.) BLOSSOM COMPANY Balance Sheet December 31, 2022 (in millions) Assets Current Assets Cash $ $ Debt investments (short-term) Accounts receivable 2 Notes receivable (due in 2023) Supplies Property, Plant and Equipment Property. Plant and Equipment $ Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity $ 7Step by Step Solution
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