Prepare a balance sheet for Alaskan Peach Corporation as of December 31, 2022, based on the following information: cash = $208,000; patents and copyrights = $862,000; accounts payable = $281,000; accounts receivable = $268,000; tangible net fixed assets = $5,250,000; inventory = $553,000; notes payable = $174,000; accumulated retained earnings = $4,736,000; long-term debt = $1,100,000. Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Accounts receivable Inventory Cash Current assets Balance Sheet Assets Total assets Liabilities Current liabilities Total liabilities Total liabilities & owners' equity $ 268,000

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
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Prepare a balance sheet for Alaskan Peach Corporation as of December 31, 2022, based on the following information: cash =
$208,000; patents and copyrights = $862,000; accounts payable = $281,000; accounts receivable = $268,000; tangible net fixed
assets = $5,250,000; inventory = $553,000; notes payable = $174,000; accumulated retained earnings = $4,736,000; long-term debt =
$1,100,000.
Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.
Accounts receivable
Inventory
Cash
Current assets
Balance Sheet
Assets
Total assets
Liabilities
Current liabilities
Total liabilities
Total liabilities & owners' equity
$
268,000
Transcribed Image Text:Prepare a balance sheet for Alaskan Peach Corporation as of December 31, 2022, based on the following information: cash = $208,000; patents and copyrights = $862,000; accounts payable = $281,000; accounts receivable = $268,000; tangible net fixed assets = $5,250,000; inventory = $553,000; notes payable = $174,000; accumulated retained earnings = $4,736,000; long-term debt = $1,100,000. Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Accounts receivable Inventory Cash Current assets Balance Sheet Assets Total assets Liabilities Current liabilities Total liabilities Total liabilities & owners' equity $ 268,000
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