775j000 ProPaid expenseS. Cucrent liabilities Accounts PaY. Notes Pay.Cdue.next year) Pension Obligation Rent PaYable Premium On bonds Pay. 135,000 115,000 82,000 493000 53,000 Long-term ligbilities Bonds PaY. Sogooo Stockholders eauity Common storky $1.00 Pary quthorized 409000 Shares, issued 2o0. Additional Paid-in Capital 290j000 169000 Retainfd earnin9s Instructions Prepare a revised balance Sheet given the available information Assyme that the accymulated deprec. balance for the bullbings is $760,000 and for the eauir. $105,000. The allowance for doubtful accounts has a b9 lance of $13co. The Pension Obligation is considered a long-term liabilitY.
775j000 ProPaid expenseS. Cucrent liabilities Accounts PaY. Notes Pay.Cdue.next year) Pension Obligation Rent PaYable Premium On bonds Pay. 135,000 115,000 82,000 493000 53,000 Long-term ligbilities Bonds PaY. Sogooo Stockholders eauity Common storky $1.00 Pary quthorized 409000 Shares, issued 2o0. Additional Paid-in Capital 290j000 169000 Retainfd earnin9s Instructions Prepare a revised balance Sheet given the available information Assyme that the accymulated deprec. balance for the bullbings is $760,000 and for the eauir. $105,000. The allowance for doubtful accounts has a b9 lance of $13co. The Pension Obligation is considered a long-term liabilitY.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I need help with this accounting problem.
![ES.5 (LO2) (Preparation of a Corrected Balance
Sheet) U hura company has decided to expand a u
its operations. The bookkeeper recently y
Completed the following balance sheet in ata
order to obtain additional funds for cHO neiat
expansion
ாருப்பபம்ாம்
Uhura Company
Bal. Sheet lalet caad
For the Year Ended 2020 7
(yrrent assets
(ash
230j000
34,000e
Accounts Receiv. (net)
Inventory (lower-of-avecage- 4odjo00
(654-or-market)
Equity Invest. (marketable)
-at cost (fair value $]29000)
Proferty, Plant and pawie e han e s7AYt
Buillings (net)lunal l
Eanuie, (net)
Land held fortann linht fun5,000cllp l
future use A
A
Intangible assets
Good Will
Cash Surrender value of
life insyrance
8g000
90j000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb7b9bc12-9bec-475d-bc99-e13d2a9b76e2%2F554f8aad-6a34-40f1-ad9b-7941555afcfd%2Fkgyl41l_processed.jpeg&w=3840&q=75)
Transcribed Image Text:ES.5 (LO2) (Preparation of a Corrected Balance
Sheet) U hura company has decided to expand a u
its operations. The bookkeeper recently y
Completed the following balance sheet in ata
order to obtain additional funds for cHO neiat
expansion
ாருப்பபம்ாம்
Uhura Company
Bal. Sheet lalet caad
For the Year Ended 2020 7
(yrrent assets
(ash
230j000
34,000e
Accounts Receiv. (net)
Inventory (lower-of-avecage- 4odjo00
(654-or-market)
Equity Invest. (marketable)
-at cost (fair value $]29000)
Proferty, Plant and pawie e han e s7AYt
Buillings (net)lunal l
Eanuie, (net)
Land held fortann linht fun5,000cllp l
future use A
A
Intangible assets
Good Will
Cash Surrender value of
life insyrance
8g000
90j000
![The allowance for doubtfyl accounts has a balance of $17buou.
The Pension Obligation is considered a long-term liabilitY.
175,000
Prepaid expenses
Current liabilities
Accounts PaY
135,00
125,000
823000
49,000
53,000
Notes Pay.Cdue next year)
Pension Obligation
Rent Payable
Premium On bonds Pay.
Long-term liabilities
Bonds PaY.
Soogoo
Stockholders' equity
Common stocky $1.00 Par,
qut horized
409000 Shares, issued 2go00
Additional Paid-in Capital
2903000
I69000
7.
Retainfd earnings
Instructions:
Prepare a revised balance Sheet given the available
information ASSyme that the accymulated deprec. balance
for the bulldings is $760,000 and tor the pauip $105,000.
The gllowance for doubtfyl acconts has a balance of $Iba
The Pension Obligation is considered a long-term liabilit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb7b9bc12-9bec-475d-bc99-e13d2a9b76e2%2F554f8aad-6a34-40f1-ad9b-7941555afcfd%2Fn0oq4we_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The allowance for doubtfyl accounts has a balance of $17buou.
The Pension Obligation is considered a long-term liabilitY.
175,000
Prepaid expenses
Current liabilities
Accounts PaY
135,00
125,000
823000
49,000
53,000
Notes Pay.Cdue next year)
Pension Obligation
Rent Payable
Premium On bonds Pay.
Long-term liabilities
Bonds PaY.
Soogoo
Stockholders' equity
Common stocky $1.00 Par,
qut horized
409000 Shares, issued 2go00
Additional Paid-in Capital
2903000
I69000
7.
Retainfd earnings
Instructions:
Prepare a revised balance Sheet given the available
information ASSyme that the accymulated deprec. balance
for the bulldings is $760,000 and tor the pauip $105,000.
The gllowance for doubtfyl acconts has a balance of $Iba
The Pension Obligation is considered a long-term liabilit
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