- To Do 31, 2018 Chapter 03 Pre-Built Problems Help Save & 6 you notice several errors. LOS GATOS CORPORATION Sheet At December 31, 2018 10 Assets Cash Accounts receivable Inventories Machinery (net) Franchise (net) s 42,000 83,000 56,000 121,000 31,000 $333,000 Liabilities and Shareholders Equity Accounts payable Note payable Shareholders equity s 52,000 6,000 57,000 111,000 107,000 $333,000 for uncollectible accounts Total 1iabilities and shareholders' equity Additional inforniation: . Cash includes a $21,000 restricted amount to be used for repayment of the bonds payable in 2022. 2. The cost of the machinery is $192,000. 3. Accounts receivable includes a $21,000 note receivable from a customer due in 2021. e note payable includes accrued interest of $6,000. Principal and interest are both due on February 1, 2019 5. The company began operations in 2013. Income less dividends since inception of the company totals $36,000 6. 51,000 shares of no par common stock were issued in 2013. 100,000 shares are authorized. Required mounts to he deducted should be indicated by a minus sign.) - To Do 31, 2018 Chapter 03 Pre-Built Problems Help Save & 6 you notice several errors. LOS GATOS CORPORATION Sheet At December 31, 2018 10 Assets Cash Accounts receivable Inventories Machinery (net) Franchise (net) s 42,000 83,000 56,000 121,000 31,000 $333,000 Liabilities and Shareholders Equity Accounts payable Note payable Shareholders equity s 52,000 6,000 57,000 111,000 107,000 $333,000 for uncollectible accounts Total 1iabilities and shareholders' equity Additional inforniation: . Cash includes a $21,000 restricted amount to be used for repayment of the bonds payable in 2022. 2. The cost of the machinery is $192,000. 3. Accounts receivable includes a $21,000 note receivable from a customer due in 2021. e note payable includes accrued interest of $6,000. Principal and interest are both due on February 1, 2019 5. The company began operations in 2013. Income less dividends since inception of the company totals $36,000 6. 51,000 shares of no par common stock were issued in 2013. 100,000 shares are authorized. Required mounts to he deducted should be indicated by a minus sign.)