The following items are taken from the financial statements of Carmen Co. at December 31, 2025. Instructions
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The following items are taken from the financial statements of Carmen Co. at December 31, 2025.InstructionsPrepare a classified balance sheet. Assume that $9,100 of the mortgage payable will be paid in 2026.
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Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2026) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2025) Accumulated depreciation-buildings Accounts payable Mortgage payable Accumulated depreciation equipment Interest payable Income taxes payable Patents Investments in stock (long-term) Debt investments (short-term) $195,600 21,700 9,200 11,840 82,400 261,200 45,780 5,300 12,600 75,000 495,000 32,600 9,500 93,600 18,720 3,600 14,700 46,700 71,500 4,100
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Accounting Tools For Business Decision Making
ISBN: 9781119791058
8th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell
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