Problem 5-1 Presanted below is a list of accounts in alphabetical order Accounts
ID: 2541936 • Letter: P
Question
Problem 5-1 Presanted below is a list of accounts in alphabetical order Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Land for Future Plant Site Accumulated Other Comprehensive Income Loss from Flood Advances to Employees Advertising Expense Allowance for Doubtful Accounts Dond Sinking Fund Bonds Payable Buildings Cash (in bank) Cash (on hand) Cash Surrender Value of Life Insurance Premium on Bonds Payable Commission Expense Common Stock Noncentroting Interest Notes Payable (due next year) Paid-in Capital in Excess of Par-Preferred Stock Payroll Taxes Payable Pension Liability Petty Cash Preferred Stock Prepaid Rent Purchase Returns and Allowarces Debt Investments (trading) Dividends Payable Equipment Freight-In Gain on Disposal of Equipment Interest Receivable Retained Earnings Salaries and Wages Expense (sales) Salaries and Wages Payable Sales Discounts Sales Revenue Treasury Stock (at cost) Unearned Subscriptions Revenue Inventory Beginning Prepare a classified balance sheet in good form. (No monetary amounts are to be shown.) (List Current Assets in order of liquidity, List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.) COMPANY N Decrmber 31, 20NN xoxx 2x x0xxExplanation / Answer
BALANCE SHEET ASSETS Current Assets XXX Cash (In Bank) XXX Cash (On Hand) XXX Cash Surrender value of life insurance XXX Petty Cash XXX Debt investment (Trading) XXX Account Recievable XXX Less: Allowance for doubtfull Debts XXX XXX Advance to Employees XXX Interest Receivable XXX Inventory - Ending XXX Prepaid rent XXX FIXED ASSETS Land XXX Land for future plant site XXX Building XXX Less: Accumulated Depreciation - Building XXX XXX Equipment XXX Accumulated Depreciation - Equipment XXX XXX OTHER ASSETS Bond sinking fund XXX Copyrights XXX Patents XXX TOTAL ASSETS XXX LIABILITIES CURRENT LIABILITIES Bonds Payable XXX Premium on Bonds Payable XXX XXX Dividend Payable XXX Notes Payable (Due in next year) XXX Payroll taxes Payable XXX Pension Liability XXX Salaries and wages Payable XXX Unearned revenue XXX TOTAL CURRENT LIABILITIES XXX LONG TERM LIABILITIES XXX TOTAL LONG TERM LIABILITIES XXX OWNER'S EQUITY Owner's Equity XXX Common Stock XXX Preferred Stock XXX Paid in Capital in excess of par - Preferred Stock XXX Retained Earnings XXX Accumulated other Comprehensive income XXX Less: Treasurry Stock XXX TOTAL OWNER'S EQUITY XXX TOTAL OF LIABILITIES AND OWNER'S EQUITY