Please help with stepss The following information is available for Dubai Falony Company for the year ended December31, 2023:Accounts payableNotes payable (due in 3 months)Unearned service revenueCash$ 8,6009,0001,80050,600Short-term investments5,000Equipment17,400Long-term investments11,400Inventory6,000Supplies4,200Accumulated depreciation-equipment10,000Owner's capital???Notes payable (due in 5 years)Intangible assetsAccounts receivablePrepaid insuranceInstructionsUse the above information to prepare a classified balance sheet for the year ended December31, 2023.5,00013,0003,800800

To prepare a classified balance sheet, we categorize assets and liabilities into current and…

Answered: The following information is available…

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

Section: Chapter Questions

Problem 10MC

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Calculate the following for Co. XYZ: c. Average collection period (365 days) d. Times interest earned Assets: Cash and marketable securities $400,000Accounts receivable 1,415,000Inventories 1,847,500Prepaid expenses 24,000Total current assets $3,686,500Fixed assets 2,800,000Less: accumulated depreciation 1,087,500Net fixed assets $1,712,500Total assets $5,399,000Liabilities: Accounts payable $600,000Notes payable 875,000Accrued taxes Total current liabilities $1,567,000Long-term debt 900,000Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000Less: Cost of goods sold 4,375,000Selling and administrative expense 1,000,500Depreciation expense 135,000Interest expense Earnings before taxes $765,000Income taxes Net income Common stock dividends $230,000Change in retained earnings
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Please given correct answer general accounting
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