What is the full solution? Exercise for balance sheet preparationThe following is an alphabetical list of the December 31, 2020 balance sheet acccounts for the Green Manufacturing Company.Accounts payable2420,900Interest payable500Accounts receivable15,300Investment in available-for-sale stock16,400Accrued pension costAccumulated depreciation: buildingsAccumulated depreciation: machinery & equipment13,300Land17,00032,400Machinery & equipmentMarketable securities (short-term)Notes payable (short-term)57,80030,0008,400Allowance for doubtful accounts1,0005,000Bond sinking fundPatents (net)Preferred stock, $100 par7,7008,600Bonds payable (due 2024)29,00030,000Buildings92,500Premium on common stocks16,300Cash7,200Premium on preferred stocks7,000Common stocks, $10 parPrepaid insuranceRaw materials44,1002,600Deferred taxes payable2,80010,100Discount on bonds payableDividends payableFinished goods2,500Retained earnings28,1005,600Unearned rent5,00023,800Unrealized increase in value of available-for-sale stock2,000Income taxes payable2,700Wages payableWork in process8,90014,700Required:Prepare a properly classified balance sheet for the Green Manufacturing Company on December 31, 2020.

Balance sheet shows all assets and liabilities as on date in order to analyse financial position of…

Exercise for balance sheet preparation The following is an alphabetical list of the December 31, 2020 balance sheet acccounts for the Green Manufacturing Company. Accounts payable 20,900 Interest payable 500 Accounts receivable 15,300 Investment in available-for-sale stock 16,400 Accrued pension cost 13,300 Land 17,000 Accumulated depreciation: buildings 32,400 Machinery & equipment 57,800 Accumulated depreciation: machinery & equipment 30,000 Marketable securities (short-term) Notes payable (short-term) Patents (net) Preferred stock, $100 par 8,400 Allowance for doubtful accounts 1,000 5,000 Bond sinking fund Bonds payable (due 2024) 7,700 8,600 29,000 30,000 Buildings 92,500 Premium on common stocks 16,300 Cash 7,200 Premium on preferred stocks 7,000 Common stocks, $10 par Deferred taxes payable 44,100. 2,800 2,500 Prepaid insurance 2,600 10,100 28,100 Raw materials Discount on bonds payable Retained earnings Dividends payable Finished goods Income taxes payable 5,600 Unearned rent 5,000 23,800 Unrealized increase in value of available-for-sale stock 2,000 8,900 Wages payable Work in process 2,700 14,700 Required: Prepare a properly classified balance sheet for the Green Manufacturing Company on December 31, 2020.

Exercise for balance sheet preparation The following is an alphabetical list of the December 31, 2020 balance sheet acccounts for the Green Manufacturing Company. Accounts payable 20,900 Interest payable 500 Accounts receivable 15,300 Investment in available-for-sale stock 16,400 Accrued pension cost 13,300 Land 17,000 Accumulated depreciation: buildings 32,400 Machinery & equipment 57,800 Accumulated depreciation: machinery & equipment 30,000 Marketable securities (short-term) Notes payable (short-term) Patents (net) Preferred stock, $100 par 8,400 Allowance for doubtful accounts 1,000 5,000 Bond sinking fund Bonds payable (due 2024) 7,700 8,600 29,000 30,000 Buildings 92,500 Premium on common stocks 16,300 Cash 7,200 Premium on preferred stocks 7,000 Common stocks, $10 par Deferred taxes payable 44,100. 2,800 2,500 Prepaid insurance 2,600 10,100 28,100 Raw materials Discount on bonds payable Retained earnings Dividends payable Finished goods Income taxes payable 5,600 Unearned rent 5,000 23,800 Unrealized increase in value of available-for-sale stock 2,000 8,900 Wages payable Work in process 2,700 14,700 Required: Prepare a properly classified balance sheet for the Green Manufacturing Company on December 31, 2020.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 7E

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