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Exercise for balance sheet preparation The following is an alphabetical list of the December 31, 2020 balance sheet acccounts for the Green Manufacturing Company. Accounts payable 20,900 Interest payable 500 Accounts receivable 15,300 Investment in available-for-sale stock 16,400 Accrued pension cost 13,300 Land 17,000 Accumulated depreciation: buildings 32,400 Machinery & equipment 57,800 Accumulated depreciation: machinery & equipment 30,000 Marketable securities (short-term) Notes payable (short-term) Patents (net) Preferred stock, $100 par 8,400 Allowance for doubtful accounts 1,000 5,000 Bond sinking fund Bonds payable (due 2024) 7,700 8,600 29,000 30,000 Buildings 92,500 Premium on common stocks 16,300 Cash 7,200 Premium on preferred stocks 7,000 Common stocks, $10 par Deferred taxes payable 44,100. 2,800 2,500 Prepaid insurance 2,600 10,100 28,100 Raw materials Discount on bonds payable Retained earnings Dividends payable Finished goods Income taxes payable 5,600 Unearned rent 5,000 23,800 Unrealized increase in value of available-for-sale stock 2,000 8,900 Wages payable Work in process 2,700 14,700 Required: Prepare a properly classified balance sheet for the Green Manufacturing Company on December 31, 2020.

Exercise for balance sheet preparation The following is an alphabetical list of the December 31, 2020 balance sheet acccounts for the Green Manufacturing Company. Accounts payable 20,900 Interest payable 500 Accounts receivable 15,300 Investment in available-for-sale stock 16,400 Accrued pension cost 13,300 Land 17,000 Accumulated depreciation: buildings 32,400 Machinery & equipment 57,800 Accumulated depreciation: machinery & equipment 30,000 Marketable securities (short-term) Notes payable (short-term) Patents (net) Preferred stock, $100 par 8,400 Allowance for doubtful accounts 1,000 5,000 Bond sinking fund Bonds payable (due 2024) 7,700 8,600 29,000 30,000 Buildings 92,500 Premium on common stocks 16,300 Cash 7,200 Premium on preferred stocks 7,000 Common stocks, $10 par Deferred taxes payable 44,100. 2,800 2,500 Prepaid insurance 2,600 10,100 28,100 Raw materials Discount on bonds payable Retained earnings Dividends payable Finished goods Income taxes payable 5,600 Unearned rent 5,000 23,800 Unrealized increase in value of available-for-sale stock 2,000 8,900 Wages payable Work in process 2,700 14,700 Required: Prepare a properly classified balance sheet for the Green Manufacturing Company on December 31, 2020.

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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Exercise for balance sheet preparation The following is an alphabetical list of the December 31, 2020 balance sheet acccounts for the Green Manufacturing Company. Accounts payable 24 20,900 Interest payable 500 Accounts receivable 15,300 Investment in available-for-sale stock 16,400 Accrued pension cost Accumulated depreciation: buildings Accumulated depreciation: machinery & equipment 13,300 Land 17,000 32,400 Machinery & equipment Marketable securities (short-term) Notes payable (short-term) 57,800 30,000 8,400 Allowance for doubtful accounts 1,000 5,000 Bond sinking fund Patents (net) Preferred stock, $100 par 7,700 8,600 Bonds payable (due 2024) 29,000 30,000 Buildings 92,500 Premium on common stocks 16,300 Cash 7,200 Premium on preferred stocks 7,000 Common stocks, $10 par Prepaid insurance Raw materials 44,100 2,600 Deferred taxes payable 2,800 10,100 Discount on bonds payable Dividends payable Finished goods 2,500 Retained earnings 28,100 5,600 Unearned rent 5,000 23,800 Unrealized increase in value of available-for-sale stock 2,000 Income taxes payable 2,700 Wages payable Work in process 8,900 14,700 Required: Prepare a properly classified balance sheet for the Green Manufacturing Company on December 31, 2020.
Transcribed Image Text:Exercise for balance sheet preparation The following is an alphabetical list of the December 31, 2020 balance sheet acccounts for the Green Manufacturing Company. Accounts payable 24 20,900 Interest payable 500 Accounts receivable 15,300 Investment in available-for-sale stock 16,400 Accrued pension cost Accumulated depreciation: buildings Accumulated depreciation: machinery & equipment 13,300 Land 17,000 32,400 Machinery & equipment Marketable securities (short-term) Notes payable (short-term) 57,800 30,000 8,400 Allowance for doubtful accounts 1,000 5,000 Bond sinking fund Patents (net) Preferred stock, $100 par 7,700 8,600 Bonds payable (due 2024) 29,000 30,000 Buildings 92,500 Premium on common stocks 16,300 Cash 7,200 Premium on preferred stocks 7,000 Common stocks, $10 par Prepaid insurance Raw materials 44,100 2,600 Deferred taxes payable 2,800 10,100 Discount on bonds payable Dividends payable Finished goods 2,500 Retained earnings 28,100 5,600 Unearned rent 5,000 23,800 Unrealized increase in value of available-for-sale stock 2,000 Income taxes payable 2,700 Wages payable Work in process 8,900 14,700 Required: Prepare a properly classified balance sheet for the Green Manufacturing Company on December 31, 2020.
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