Question

Arrange the following items in proper balance sheet presentation: (Be sure to list the assets in...

Arrange the following items in proper balance sheet presentation: (Be sure to list the assets in order of their liquidity. Input all answers as positive values.)

  
  Accumulated amortization $285,000
  Retained earnings 141,600  
  Cash 18,000
  Bonds payable 136,000
  Accounts receivable 57,000
  Plant and equipment—original cost 740,000
  Accounts payable 53,000
  Allowance for bad debts 7,400
  Common stock, 100,000 shares outstanding 194,000
  Inventory 84,000
  Preferred stock, 1,000 shares outstanding 80,000
  Marketable securities 20,000
  Investments 26,000
  Notes payable (6 months) 48,000
Business   Accounting   
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Answer-

BALANCE SHEET
Assets Amount
$
Current Assets
Cash 18000
Maketable securities 20000
Accounts receivable 57000
Less- Allowance for Doubtful Accounts 7400 49600
Inventory 84000
Fixed Assets
Plant and Equipment 740000
Less- Accumulated amortization 285000 455000
Investments
Investments 26000
Total Assets 652600
Liabilities
Current liabilities 101000
Accounts payable 53000
Notes payable 48000
Long term liabilities
Bonds payable 136000
Shareholder equity 415600
Preferred stock 80000
Common stock 194000
Retained earnings 141600
Total liabilties and shareholder equity 652600
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