Question: Write disclosure notes for any three items of balance sheet (Assets/Liabilities) BOB'S BACON HOUSE, INC. Balance Sheet As Of December 31, 20XX ASSETS Current Assets:
Write disclosure notes for any three items of balance sheet (Assets/Liabilities)
BOB'S BACON HOUSE, INC. Balance Sheet As Of December 31, 20XX ASSETS Current Assets: Cash 576,010 Accounts Receivable (Net) 191,816 Less Allowance for Doubtfull Accounts 3,836 Inventory 206,350 Deposit With Vendors 47,200 Notes Receivable 16,000 Total Current Assets 1,033,540 Long-term Investments: Long Term Investment in Warren Co 95,630 Total Long-term Investments 95,630 Property, Plant and Equipment: Land 125,000 Building and Equipment 1,000,000 Less Accumulated Depreciation (381,000) Total P, P, & E 744,000 Intangible Assets: Goodwill 225,000 Copyrights 112,000 Patents 219,335 Trademarks 115,000 Total Intangible Assets 671,335 Total Assets $2,544,505 LIABILITIES & EQUITY Current Liabilibities: Accounts Payable 344,050 Customer Deposits 375 Interest Payable 1,105 Mortgage Payable 33,360 Income Taxes Payable 24,316 2% Notes Payable 26,000 Total Current Liabilities 429,206 Long-term Liabilities: 3% Bonds Payable 600,000 Mortgage Payable 633,840 Total Long-term Liabilities 1,233,840 Total Liabilities 1,663,046 Stockholders' Equity: Common Stock 544,850 Additional Paid In Capital 40,000 Total Capital Stock 584,850 Retained Earnings 296,609 Total Equity 881,459 Total Equity and Liabilities $2,544,505
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