E4-14B The adjusted trial balance for Kever Miniature Golf at December 31, 2017, contains the following...

 

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E4-14B The adjusted trial balance for Kever Miniature Golf at December 31, 2017, contains the following accounts. Debits Credits Buildings Accounts Receivable Prepaid Insurance Cash $ 77,000 Owner's Capital 9,000 Accumulated Depreciation-Buildings 2,700 Accounts Payable 10,840 Notes Payable 37,500 Accumulated Depreciation-Equipment 38,000 Interest Payable 540 Service Revenues $ 67,000 19,000 7,400 60,000 11,000 1,600 Equipment Land Insurance Expense Depreciation Expense Interest Expense 15,580 $181,580 4,400 1,600 $181,580 Instructions (a) Prepare a classified balance sheet; assume that $15,000 of the note payable will be paid in 2018. (ь) Comment on the liquidity of the company. E4-14B The adjusted trial balance for Kever Miniature Golf at December 31, 2017, contains the following accounts. Debits Credits Buildings Accounts Receivable Prepaid Insurance Cash $ 77,000 Owner's Capital 9,000 Accumulated Depreciation-Buildings 2,700 Accounts Payable 10,840 Notes Payable 37,500 Accumulated Depreciation-Equipment 38,000 Interest Payable 540 Service Revenues $ 67,000 19,000 7,400 60,000 11,000 1,600 Equipment Land Insurance Expense Depreciation Expense Interest Expense 15,580 $181,580 4,400 1,600 $181,580 Instructions (a) Prepare a classified balance sheet; assume that $15,000 of the note payable will be paid in 2018. (ь) Comment on the liquidity of the company.

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A B E Kever Miiature Golf Balance sheet As on December 31 2018 4 Assets 5 Current assets 6 ... View the full answer