Exercise 2 JOHNSON HARDWARE STORE LTD. Land Prepaid expenses Accrued expenses payable Notes payable, due in...

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Exercise 2 JOHNSON HARDWARE STORE LTD. Land Prepaid expenses Accrued expenses payable Notes payable, due in 90 days Long-term debt Accumulated depreciation, building and equipment Marketable securities Accounts payable Accounts receivable Common stock, (authorized 2.500 shares; issued and outstanding 2,052) Goodwill (net) Building and equipment, cost Retained earnings Taxes payable Cash Inventory $19,500 12,800 10,500 34,800 54,000 57,200 18,000 73,700 60,000 51,300 2.500 119,000 131,500 5,200 4.400 182,000 Assignment Different accounts as at January 31, 2019, are listed above in random order for Johnson Hardware Store Ltd. 1. Determine whether each of the accounts above is a current asset, fixed asset, intangible asset, current liability, long-term liability or equity account. 2. Prepare a balance sheet as at January 31, 2019, for Johnson Hardware Store Ltd. Use ounide these parameters is Kamp of Exercise 2 JOHNSON HARDWARE STORE LTD. Land Prepaid expenses Accrued expenses payable Notes payable, due in 90 days Long-term debt Accumulated depreciation, building and equipment Marketable securities Accounts payable Accounts receivable Common stock, (authorized 2.500 shares; issued and outstanding 2,052) Goodwill (net) Building and equipment, cost Retained earnings Taxes payable Cash Inventory $19,500 12,800 10,500 34,800 54,000 57,200 18,000 73,700 60,000 51,300 2.500 119,000 131,500 5,200 4.400 182,000 Assignment Different accounts as at January 31, 2019, are listed above in random order for Johnson Hardware Store Ltd. 1. Determine whether each of the accounts above is a current asset, fixed asset, intangible asset, current liability, long-term liability or equity account. 2. Prepare a balance sheet as at January 31, 2019, for Johnson Hardware Store Ltd. Use ounide these parameters is Kamp of

Answer rating: 100% (QA)

1 Classification of Accounts Current Assets Prepaid expenses Marketable securities Accounts receivab... View the full answer