Presented below are a number of balance sheet items for Flint, Inc. for the current year, 2025, Goodwill Payroll taxes payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) $ 126,590 Accumulated depreciation-equipment Inventory 301,590 Rent payable (short-term) 15,240 Income taxes payable 361,590 Rent payable (long-term) 481,590 Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment 179,181 $47,290 266,590 491,590 ? 99,220 1,601,590 Debt investments (trading) Accumulated depreciation-buildings Buildings $ 292,240 241,390 46,590 99,952 481,590 201,590 151,590 89,510 1,471,590 122.590 270,440 1,641.590 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 debt investments (trading) are the same. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings, and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)
Presented below are a number of balance sheet items for Flint, Inc. for the current year, 2025, Goodwill Payroll taxes payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) $ 126,590 Accumulated depreciation-equipment Inventory 301,590 Rent payable (short-term) 15,240 Income taxes payable 361,590 Rent payable (long-term) 481,590 Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment 179,181 $47,290 266,590 491,590 ? 99,220 1,601,590 Debt investments (trading) Accumulated depreciation-buildings Buildings $ 292,240 241,390 46,590 99,952 481,590 201,590 151,590 89,510 1,471,590 122.590 270,440 1,641.590 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 debt investments (trading) are the same. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings, and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)
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
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 14E: Interest and Income Taxes Staggs Company has prepared its 2019 statement of cash flows. In...
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