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BE53 (L02) Included in Out Kast Company's Dec. 37,2020 trigl balance are the following asset accountsi Prepaid RAnt, $5,200, Debt Iniest. (to be held to maturity until 2023) $ 56yoo, Uneamed Fees $Il,o00, Land Chelb for investment) $3,000 and Notes Receiv. (long-term) $4000. Prepare the longterm investments section of the balance Sheet.

BE53 (L02) Included in Out Kast Company's Dec. 37,2020 trigl balance are the following asset accountsi Prepaid RAnt, $5,200, Debt Iniest. (to be held to maturity until 2023) $ 56yoo, Uneamed Fees $Il,o00, Land Chelb for investment) $3,000 and Notes Receiv. (long-term) $4000. Prepare the longterm investments section of the balance Sheet.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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BE5.3 (102) Included in Out Kast Company's Dec. 37,2020, trial balance gre the following asset accountsi Prepaid Rent, $5,200, Debt Invest. (to be held to maturity until 2023) $56,00 Uneamed Fees $Il,o0o, Land (held for investment) $3,000, and Notes Receiv. (long-term) $42,000. Prepare the long-term investments section of the balance Sheet.
Transcribed Image Text:BE5.3 (102) Included in Out Kast Company's Dec. 37,2020, trial balance gre the following asset accountsi Prepaid Rent, $5,200, Debt Invest. (to be held to maturity until 2023) $56,00 Uneamed Fees $Il,o0o, Land (held for investment) $3,000, and Notes Receiv. (long-term) $42,000. Prepare the long-term investments section of the balance Sheet.
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