Accum. Deerec.- Build. Buildings Instructions Pre pare a Classified balance Sheet in good form. Common Stock authorized was 4o0,000 Shares, and Preferred Stock quthorized was 201000 Shares. Assume that notes receiv. and notes PaY. are Short term, unless stated otherwise Cost and fair ralue of debt ivest. (trading) are the same.
Accum. Deerec.- Build. Buildings Instructions Pre pare a Classified balance Sheet in good form. Common Stock authorized was 4o0,000 Shares, and Preferred Stock quthorized was 201000 Shares. Assume that notes receiv. and notes PaY. are Short term, unless stated otherwise Cost and fair ralue of debt ivest. (trading) are the same.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I need help with this accounting problem.
Transcribed Image Text:P5.2(102) (Balance sheet Preparation)
Presented beloW are a number of balance sheet; idems
for Montoya, Inc. for the Curment Yeag 2020 triA!
Payroll taxes Pa
ज्व
Discount on bonds Pay.
Tod spung
puby
Notes Receiv.
Notes PaY (Ho banks)
Accounts Pay
R२Aalned ९anlin) S
Income taxes receiv.
30
Notes Pay. Clong-term)
Accum. Deprec.- Equip.
239,800
Rent Pay. (Short-term)
Income taxes PaYe
98,362
480,000
Rent Pay. Clong-term)
Preferred stock,$20 par value
९c९९०& 9९e०५९९
1,00000
Equip.
Debt Invest. (trading)
Transcribed Image Text:Accum. Deprec. - Build.
100000
Instructions:
Prepare a Classified balance Sheet in good form.
Common Stock authorized was 400,000 Shares, and Preferred
Stock quthorized was 2ojoo Shares, Assume that notes receive
and notes PaY are Short-term, unless stated otherwise
Cost and fair ralue of debt invest. Ctrading9) are the same.
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