Question: Create a partial Balance Sheet Presented below are selected accounts of Bramble Company at December 31, 2020. 1. Inventories are valued at lower-of-cost-or-market using LIFO.



Create a partial Balance Sheet
Presented below are selected accounts of Bramble Company at December 31, 2020. 1. Inventories are valued at lower-of-cost-or-market using LIFO. 2. Equipment is recorded at cost. Accumulated depreciation, computed on a straight-line basis, is $50,355. 3. The short-term investments have a fair value of $28,950. 4. The notes receivable are due April 30, 2022, with interest receivable every April 30 . The notes bear interest at 6%. (Hint Accrue interest due on December 31, 2020.) 5. The allowance for doubtful accounts applies to the accounts receivable. Accounts receivable of $50,100 are pledged as collateral on a bank loan. 6. Licenses are recorded net of accumulated amortization of $13,140. 7. Treasury stock is recorded at cost
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