Arrange the following items in proper balance sheet presentation: Accumulated depreciation............................. $309,000 Retained earnings.................................... 187,000 Cash................................................. 14,000

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Arrange the following items in proper balance sheet presentation:
Accumulated depreciation............................. $309,000
Retained earnings.................................... 187,000
Cash................................................. 14,000
Bonds payable........................................ 136,000
Accounts receivable.................................. 54,000
Plant and equipment—original cost.................... 775,000
Accounts payable..................................... 35,000
Allowance for bad debts.............................. 9,000
Common stock, $1 par, 100,000 shares outstanding..... 100,000
Inventory............................................ 70,000
Preferred stock, $59 par, 1,000 shares outstanding... 59,000
Marketable securities................................ 24,000
Investments.......................................... 20,000
Notes payable........................................ 34,000
Capital paid in excess of par (common stock)......... 88,000

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For  answer-question

Foundations of Financial Management

ISBN: 978-1259194078

15th edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen

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