repare a 2024 balance sheet for Willis Corporation based on the following information: Cash = $128,000; Patents and opyrights $630,000; Accounts payable = $210,500; Accounts receivable = $100,000; Tangible net fixed assets = $1,620,000; Inventory = $293,500; Notes payable = $165,000; Accumulated retained earnings = $1,276,000; Long-term lebt = $846,000. Note: Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations. Current assets Total assets Assets WILLIS CORPORATION Balance Sheet Liabilities and Equity Current liabilites Total liabilities Total liabilities & owners' equity
repare a 2024 balance sheet for Willis Corporation based on the following information: Cash = $128,000; Patents and opyrights $630,000; Accounts payable = $210,500; Accounts receivable = $100,000; Tangible net fixed assets = $1,620,000; Inventory = $293,500; Notes payable = $165,000; Accumulated retained earnings = $1,276,000; Long-term lebt = $846,000. Note: Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations. Current assets Total assets Assets WILLIS CORPORATION Balance Sheet Liabilities and Equity Current liabilites Total liabilities Total liabilities & owners' equity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:repare a 2024 balance sheet for Willis Corporation based on the following information: Cash = $128,000; Patents and
opyrights = $630,000; Accounts payable = $210,500; Accounts receivable = $100,000; Tangible net fixed assets =
$1,620,000; Inventory = $293,500; Notes payable = $165,000; Accumulated retained earnings = $1,276,000; Long-term
lebt = $846,000.
Note: Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.
Current assets
Total assets.
Assets
WILLIS CORPORATION
Balance Sheet
Liabilities and Equity
Current liabilites
Total liabilities
Total liabilities & owners' equity
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