Make a classified balance sheet in good form common stock

Reference no: EM13393447

Presented below are a number of balance sheet items for Montoya, Inc., for the current year, 2012.

Goodwill	$127,620	Accumulated depreciation-equipment	$292,465
Payroll Taxes Payable	180,211	Inventory	242,420
Bonds payable	302,620	Rent payable (short-term)	47,620
Discount on bonds payable	15,465	Income tax payable	100,982
Cash	362,620	Rent payable (long-term)	482,620
Land	482,620	Common stock, $1 par value	202,620
Notes receivable	448,320	Preferred stock, $10 par value	152,620
Notes payable (to banks)	267,620	Prepaid expenses	90,540
Accounts payable	492,620	Equipment	1,472,620
Retained earnings	?	Equity investments (trading)	123,620
Income taxes receivable	100,250	Accumulated depreciation-buildings	270,665
Unsecured notes payable (long-term)	1,602,620	Buildings	1,642,620

Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same.

Reference no: EM13393447

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