Question Details

Problem 5-2 Presented below are a number of balance sheet items for Teal, Inc., for the current year, 2017.


Answer download
More Details:

Problem 5-2

Presented below are a number of balance sheet items for Teal, Inc., for the current year, 2017.

Goodwill $ 128,780 Accumulated Depreciation-Equipment $ 292,310
Payroll Taxes Payable 181,371 Inventory 243,580
Bonds payable 303,780 Rent payable (short-term) 48,780
Discount on bonds payable 15,310 Income taxes payable 102,142
Cash 363,780 Rent payable (long-term) 483,780
Land 483,780 Common stock, $1 par value 203,780
Notes receivable 449,480 Preferred stock, $10 par value 153,780
Notes payable (to banks) 268,780 Prepaid expenses 91,700
Accounts payable 493,780 Equipment 1,473,780
Retained earnings ? Equity investments (trading) 124,780
Income taxes receivable 101,410 Accumulated Depreciation-Buildings 270,510
Notes payable (long-term) 1,603,780 Buildings

1,643,780


Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment.)



Teal inc.

 

balance sheet

 

december 31, 2017

 

assets

 

current assets

 

cash

 

trading securities

 

notes receivables

 

income tax receivbales

 

inventories

 

prepaid expenses

 

total current assets

 

property,plant and...

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Dec 18, 2020

PRICE: $18.50

Solution~00031148233775.zip (25.37 KB)

Buy this answer for only: $18.50

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Dec 18, 2020

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN YOUR SET DEADLINE.

Order Now