Question: 2.1 Prepare a December 31 balance sheet using the following data: Cash $ 4,000 Patents 82,000 Accounts payable 6,000 Accounts receivable 8,000 Taxes payable 2,000

2.1 Prepare a December 31 balance sheet using the following data:

Cash $ 4,000

Patents 82,000

Accounts payable 6,000

Accounts receivable 8,000

Taxes payable 2,000

Machinery 34,000

Bonds payable 7,000

Accumulated retained

earnings 6,000

Capital surplus 19,000

The par value of the firms common stock is $100.

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