The following items were taken from the financial statements from London Company at December 31, 2015. Accounts Investments in bonds 299,000 Share capital—ordinary 1000,000 Current tax payable 500,000 Investments in capital shares 277,000 Retained earnings 500,000 Land 260,000 Bonds payable (due 2025) 500,000 Notes payable (short term) 1000,000 Buildings 1,040,000 Accounts payable 276,000 Accumulated Depreciation— Buildings 352,000 Accumulated Depreciation— Equipment 60,000 Equipment 600,000 Trading securities 153,000 Franchise 160,000 Patent 195,000 Inventories 597,000 Allowance for doubtful accounts 25,000 Cash 197,000 Accounts receivable 435,000 Instructions Prepare a classified balance sheet as of December 31, 2015.
The following items were taken from the financial statements from London Company at December 31, 2015.
|
Accounts |
|
|
Investments in bonds |
299,000 |
|
Share capital—ordinary |
1000,000 |
|
Current tax payable |
500,000 |
|
Investments in capital shares |
277,000 |
|
|
500,000 |
|
Land |
260,000 |
|
Bonds payable (due 2025) |
500,000 |
|
Notes payable (short term) |
1000,000 |
|
Buildings |
1,040,000 |
|
Accounts payable |
276,000 |
|
|
352,000 |
|
Accumulated Depreciation— Equipment |
60,000 |
|
Equipment |
600,000 |
|
Trading securities |
153,000 |
|
Franchise |
160,000 |
|
Patent |
195,000 |
|
Inventories |
597,000 |
|
Allowance for doubtful accounts |
25,000 |
|
Cash |
197,000 |
|
|
435,000 |
Instructions
Prepare a classified
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
