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.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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
179,181
Inventory
301,590
Rent payable (short-term)
Income taxes payable
Rent payable (long-term)
Common stock, $1 par value
Preferred stock, $10 par value
Prepaid expenses
Equipment
15,240
361,590
481,590
$47,290
266,590
491,590
?
99,220
1,601.590
Debt investments (trading)
Accumulated depreciation-buildings
Buildings
$ 292,240
MacBook Pro
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.)
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