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Liabilities and Stockholders' Equity Presented below are a number of balance sheet items for Teal, Inc. for the current year, 2020. Goodwill $ 127,700 Accumulated
Liabilities and Stockholders' Equity Presented below are a number of balance sheet items for Teal, Inc. for the current year, 2020. Goodwill $ 127,700 Accumulated Depreciation Equipment $292.160 Payroll Taxes Payable 180,291 Inventory 242,500 Bonde payable 302.700 Rent payable short-term 47700 Discount on bonds payable 15,160 Income taxes payable 01.062 Cash 362.700 Rent payable long-term 482.700 Land Common stock $1 par value 202.700 Notes receivable Preferred stock. $10 par value 152.700 Notes payable to banks 267,700 Prepaid expenses 90.620 Accounts payable 492.700 Equipment 1472.700 Retained earnings ? Debt investments (trading 123.700 Income taxes receivable 100.330 Accumulated Depreciation Buildings 270.360 Notes payable long-termi 1.602.700 Buildings 1642.700 Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of debt Investments (trading) are the same. (List Current Assets in order of liquidity, List Property, plant and Equipment in order of Land, Building and Equipment.) TEAL, INC. Lalance sheet Assets
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