Question

The following balance sheet items, listed in alphabetical order, are available from the records of Dot.com Company at December 31, 2011.
Account payable.................. $ 18,255
Accounts receivable...................69, 180
Accumulated depreciation- automobile...........22,500
Accumulated depreciation-buildings...............40,000
Automobiles....................112, 500
Bonds payable, due December 31, 2014..........160,000
Buildings....................200,000
Capital stock, $10 par value...............150,000
Cash.......................13,230
Income taxes payable.................6,200
Interest payable....................1,500
Land.......................250,000
Long-term investments..................85,000
Notes payable, due June 30, 2012............10,000
Office supplies...................2,340
Paid-in capital in excess of par value..........50,000
Patents........................40,000
Prepaid rent.....................1,500
Retained earnings...................311,095
Salaries and wages payable.................4,200

(a) Prepare in good form a classified balance sheet as of December 31, 2011.
(b). Compute Dot. Com’s current ratio (1 point).



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  • CreatedJuly 26, 2013
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