Problem: Reality Company prepared the following Balance sheet: Reality Company Balance Sheet for Year Ended December 31, 2021 Working Capital $22,800 Other Assets $152k Total: $174,800 Noncurrent Liabilities $62k Shareholder's Equity $112,800 Total $174,800 An analysis prepared reveals the following info: 1. Working Capital consists of: Land $14,500 Accounts due from customers $16k Accounts due to supplies ($22,700) inventories, including office supplies of $3,500 $35k Income taxes owed ($15,700) Wages owed ($3,300) Note owed to bank (due Dec 31, 2024) ($18k) Securities held as a short-term investment $17k Total $22,800 2.Other assets included: Cash $12,500 Prepaid Insurance $2,800 Buildings and equipment $100k Discount on Bonds Payable $3k Investment in available for sale securities $28,600 Treasury Stock (at cost) $5,100 Total $152k 3. Noncurrent liabilities consist of: Bonds payable (due 2028) $33k Allowance for doubtful accounts $1,600 Additional paid-in capital on preferred stock $2,400 Common stock, $5 par $25k Total $62k 4. Shareholder's equity includes: Accumulated depreciation: Buildings and Equipment $42,500 Preferred Stock, $100 par $12k Additional Paid-in Capital on common stock $13,100 Retained earnings $39,300 Accrued pension cost $7,200 Unrealized decrease in value of available for sale securities ($1,300) Total $112,800 BASED ON THE ANALYSIS CAN I GET HELP ON PREPARING A PROPERLY CLASSIFIED BALANCE SHEET WITH PARENTHETIC NOTES FOR REALITY CORPORATION FOR DEC 31, 2021. DOLLARS ARE IN THOUSANDS. BONUS POINTS IF YOU CAN SHOW ME IT IN EXCEL. I'M TOLD EXCEL MAKES IT EASIER TO RECOGNIZE ERRORS AND IS THE PREFERRED METHOD FOR HOW I SHOULD BE DOING EXERCISES.
Problem:
Reality Company prepared the following
Reality Company
Balance Sheet for Year Ended December 31, 2021
Other Assets $152k
Total: $174,800
Noncurrent Liabilities $62k
Shareholder's Equity $112,800
Total $174,800
An analysis prepared reveals the following info:
1. Working Capital consists of:
Land $14,500
Accounts due from customers $16k
Accounts due to supplies ($22,700)
inventories, including office supplies of $3,500 $35k
Income taxes owed ($15,700)
Wages owed ($3,300)
Note owed to bank (due Dec 31, 2024) ($18k)
Securities held as a short-term investment $17k
Total $22,800
2.Other assets included:
Cash $12,500
Prepaid Insurance $2,800
Buildings and equipment $100k
Discount on Bonds Payable $3k
Investment in available for sale securities $28,600
Total $152k
3. Noncurrent liabilities consist of:
Bonds payable (due 2028) $33k
Allowance for doubtful accounts $1,600
Additional paid-in capital on
Common stock, $5 par $25k
Total $62k
4. Shareholder's equity includes:
Preferred Stock, $100 par $12k
Additional Paid-in Capital on common stock $13,100
Accrued pension cost $7,200
Unrealized decrease in value of available for sale securities ($1,300)
Total $112,800
BASED ON THE ANALYSIS CAN I GET HELP ON PREPARING A PROPERLY CLASSIFIED BALANCE SHEET WITH PARENTHETIC NOTES FOR REALITY CORPORATION FOR DEC 31, 2021. DOLLARS ARE IN THOUSANDS.
BONUS POINTS IF YOU CAN SHOW ME IT IN EXCEL. I'M TOLD EXCEL MAKES IT EASIER TO RECOGNIZE ERRORS AND IS THE PREFERRED METHOD FOR HOW I SHOULD BE DOING EXERCISES.
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