Presented below is a list of balance sheet accounts. Accounts payable Accounts receivable. Accumulated depreciation-buildings Accumulated depreciation-equipment Allowance for uncollectible accounts Land (held for speculation) Bonds payable (due in 10 years) Buildings Notes payable (due in 6 months) Notes receivable (due in 2 years) Patent (net) Additional paid-in capital Prepaid expenses Current assets: Cash Required: Prepare a classified balance sheet ignoring monetary amounts. Note: Enter the answer in the order of liquidity. Short-term investments Accounts receivable Interest receivable Inventory Prepaid expenses Total current assets Name of Company Balance Sheet At [date] Assets Investments: Cash Common stock Notes receivable Long-term equity investments Copyright (net) Equipment Interest receivable (due in three months) Inventory Land (in use) Long-term equity investments Interest payable (current) Retained earnings Short-term investments Income taxes payable Salaries payable
Presented below is a list of balance sheet accounts. Accounts payable Accounts receivable. Accumulated depreciation-buildings Accumulated depreciation-equipment Allowance for uncollectible accounts Land (held for speculation) Bonds payable (due in 10 years) Buildings Notes payable (due in 6 months) Notes receivable (due in 2 years) Patent (net) Additional paid-in capital Prepaid expenses Current assets: Cash Required: Prepare a classified balance sheet ignoring monetary amounts. Note: Enter the answer in the order of liquidity. Short-term investments Accounts receivable Interest receivable Inventory Prepaid expenses Total current assets Name of Company Balance Sheet At [date] Assets Investments: Cash Common stock Notes receivable Long-term equity investments Copyright (net) Equipment Interest receivable (due in three months) Inventory Land (in use) Long-term equity investments Interest payable (current) Retained earnings Short-term investments Income taxes payable Salaries payable
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Presented below is a list of balance sheet accounts.
Accounts payable
Accounts receivable
Accumulated depreciation-buildings
Accumulated depreciation-equipment
Allowance for uncollectible accounts
Land (held for speculation)
Bonds payable (due in 10 years)
Buildings
Notes payable (due in 6 months)
Notes receivable (due in 2 years)
Patent (net)
Additional paid-in capital
Prepaid expenses
Current assets:
Cash
Required:
Prepare a classified balance sheet ignoring monetary amounts.
Note: Enter the answer in the order of liquidity.
Short-term investments
Accounts receivable
Interest receivable
Inventory
Prepaid expenses
Total current assets
Name of Company
Balance Sheet
At [date]
Assets
Investments:
Cash
Common stock
Copyright (net)
Equipment
Interest receivable (due in three months)
Inventory
Land (in use)
Notes receivable
Long-term equity investments
Long-term equity investments
Interest payable (current)
Retained earnings
Short-term investments
Income taxes payable
Salaries payable](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fccf7b549-0de9-4878-8e24-ed5bff2e8698%2F1ad70eb1-aaa8-4837-bfc4-4b5dca104e7b%2F2ok1ejh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Presented below is a list of balance sheet accounts.
Accounts payable
Accounts receivable
Accumulated depreciation-buildings
Accumulated depreciation-equipment
Allowance for uncollectible accounts
Land (held for speculation)
Bonds payable (due in 10 years)
Buildings
Notes payable (due in 6 months)
Notes receivable (due in 2 years)
Patent (net)
Additional paid-in capital
Prepaid expenses
Current assets:
Cash
Required:
Prepare a classified balance sheet ignoring monetary amounts.
Note: Enter the answer in the order of liquidity.
Short-term investments
Accounts receivable
Interest receivable
Inventory
Prepaid expenses
Total current assets
Name of Company
Balance Sheet
At [date]
Assets
Investments:
Cash
Common stock
Copyright (net)
Equipment
Interest receivable (due in three months)
Inventory
Land (in use)
Notes receivable
Long-term equity investments
Long-term equity investments
Interest payable (current)
Retained earnings
Short-term investments
Income taxes payable
Salaries payable
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