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Timpview, Incorporated, reports the following on December 31, 2024: Account Cash Accounts receivable Inventory Prepaid rent (for the next 8 months) Investment in equity
Timpview, Incorporated, reports the following on December 31, 2024: Account Cash Accounts receivable Inventory Prepaid rent (for the next 8 months) Investment in equity securities (short term) Machinery (net) Amount $ 40,000 34,000 75,000 16,000 10,000 134,000. 83,000 8,000 4,000 32,000 200,000 100,000 48,000 Patent (net) Accounts payable Salaries payable Income taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Required: Prepare a balance sheet for Timpview, Incorporated. Be sure to properly classify assets, liabilities and equity accounts. TIMPVIEW, INCORPORATED Balance Sheet At December 31, 2024 Assets Current assets; Total current assets 0
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