Presented below are a number of balance sheet items for radiant, Inc. for the current year, 2020. Goodwill $ 126,520 Accumulated Depreciation-Equipment $ 292,470 Payroll Taxes Payable 179,111 Inventory 241,320 Bonds payable 301,520 Rent payable (short-term) 46,520 Discount on bonds payable 15,470 Income taxes payable 99,882 Cash 361,520 Rent payable (long-term) 481,520 Land 481,520 Common stock, $1 par value 201,520 Notes receivable 447,220 Preferred stock, $10 par value 151,520 Notes payable (to banks) 266,520 Prepaid expenses 89,440 Accounts payable 491,520 Equipment 1,471,520 Retained earnings ? Debt investments (trading) 122,520 Income taxes receivable 99,150 Accumulated Depreciation-Buildings 270,670 Notes payable (long-term) 1,601,520 Buildings 1,641,520 Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of debt investments (trading) are the same.
Presented below are a number of balance sheet items for radiant, Inc. for the current year, 2020. Goodwill $ 126,520 Accumulated Depreciation-Equipment $ 292,470 Payroll Taxes Payable 179,111 Inventory 241,320 Bonds payable 301,520 Rent payable (short-term) 46,520 Discount on bonds payable 15,470 Income taxes payable 99,882 Cash 361,520 Rent payable (long-term) 481,520 Land 481,520 Common stock, $1 par value 201,520 Notes receivable 447,220 Preferred stock, $10 par value 151,520 Notes payable (to banks) 266,520 Prepaid expenses 89,440 Accounts payable 491,520 Equipment 1,471,520 Retained earnings ? Debt investments (trading) 122,520 Income taxes receivable 99,150 Accumulated Depreciation-Buildings 270,670 Notes payable (long-term) 1,601,520 Buildings 1,641,520 Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of debt investments (trading) are the same.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Presented below are a number of
|
$ 126,520 |
|
$ 292,470 | |||
---|---|---|---|---|---|---|
Payroll Taxes Payable
|
179,111 |
Inventory
|
241,320 | |||
Bonds payable
|
301,520 |
Rent payable (short-term)
|
46,520 | |||
Discount on bonds payable
|
15,470 |
Income taxes payable
|
99,882 | |||
Cash
|
361,520 |
Rent payable (long-term)
|
481,520 | |||
Land
|
481,520 |
Common stock, $1 par value
|
201,520 | |||
Notes receivable
|
447,220 |
|
151,520 | |||
Notes payable (to banks)
|
266,520 |
Prepaid expenses
|
89,440 | |||
Accounts payable
|
491,520 |
Equipment
|
1,471,520 | |||
|
? |
Debt investments (trading)
|
122,520 | |||
Income taxes receivable
|
99,150 |
Accumulated Depreciation-Buildings
|
270,670 | |||
Notes payable (long-term)
|
1,601,520 |
Buildings
|
1,641,520 |
Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of debt investments (trading) are the same.
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