Question: Can you please ecplain how you get your answer? the list of accounts to be chosen from are: accounts oayable, accounts receivable, accrued liability, accumulated
Cone Corporation is in the process of preparing its December 31, 2021, balance sheet. There are some questions as to the proper classification of the following items a $67.000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2025. b. Prepold rent of $41,000, covering the period January 1, 2022, through December 31, 2023 c Notes payable of $234,000. The notes are payable in annual installments of $37,000 each with the first installment payable on March 1, 2022 d. Accrued interest payable or $29,000 related to the notes payable e Investment in equity securities of other corporations, $114.000. Cone intends to sell one-half of the securities in 2022. Required: Prepare the asset and Habity sections of a classified balance sheet to show how each of the above Items should be reported. CONE CORPORATION Balance Sheet (Partian At December 31, 2021 Assets Current assets Investments Restricted cash 67.000 7 Other assets Liabilities and Shareholders' Equity Current liabilities Long-term babilities
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