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  3. presented below are a number of balance sheet items for...

Question: presented below are a number of balance sheet items for...

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Presented below are a number of balance sheet items for Cheyenne, Inc., for the current year, 2017.

Goodwill $ 126,830 Accumulated Depreciation-Equipment $ 292,290
Payroll Taxes Payable 179,421 Inventory 241,630
Bonds payable 301,830 Rent payable (short-term) 46,830
Discount on bonds payable 15,290 Income taxes payable 100,192
Cash 361,830 Rent payable (long-term) 481,830
Land 481,830 Common stock, $1 par value 201,830
Notes receivable 447,530 Preferred stock, $10 par value 151,830
Notes payable (to banks) 266,830 Prepaid expenses 89,750
Accounts payable 491,830 Equipment 1,471,830
Retained earnings ? Debt investments (trading) 122,830
Income taxes receivable 99,460 Accumulated Depreciation-Buildings 270,490
Notes payable (long-term) 1,601,830 Buildings 1,641,830


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 debt investments (trading) are the same. (List Current Assets in the order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment.)Presented below are a number of balance sheet items for Cheyenne, Inc., for the current year, 2017 Goodwill Payroll Taxes PayAssets Current Assets Cash 361,830 Debt Investments 122,830 Notes Receivable 447,530 Income Tax Receivable 99,460 Inventory 2Accumulated Depreciation-Building Equipment 1,471,830 Less 292,290 1179540 3032710 Accumulated Depreciation-Equipment IntangiTotal Current Liabilities 1085103 Long-term Liabilities Rent Payable 481,830 Bonds Payable 301,830 Less 15,290 768370 Discoun353660 Retained Earnings Total Stockholders Equity Total Liabilities and Stockholders Equity

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