The following items were taken from the financial statements of Rivera Company.
ID: 2440493 • Letter: T
Question
The following items were taken from the financial statements of Rivera Company. (All dollars are in thousands.)
Prepare a classified balance sheet in good form as of December 31, 2016. (Enter amounts in thousands. List current assets in order of liquidity.)
please include calculations
Mortgage payable $2,340 Accumulated depreciation $3,560 Prepaid expenses 980 Accounts payable 1,555 Property, plant, and equipment 11,500 Notes payable due after 2017 1,200 Long-term investments 1,300 Owner’s capital 14,026 Short-term investments 3,690 Accounts receivable 1,696 Notes payable due in 2017 1,000 Inventories 1,765 Cash 2,750Explanation / Answer
Classified Balance Sheet as on 12/31/2016: Assets: Amount $'000 Cash 2750 Accounts receivable 1696 Inventory 1765 Prepaid exp 980 Short term investment 3690 Current Assets 10881 Long term investments 1300 Property, plant and equipment 11500 Less: Acc Depreciation 3560 Net PPE 7940 Total Assets 20121 Liabilities & Shareholders Equity: Amount $'000 Accounts payable 1555 Notes payable due in 2017 1000 Current Liabilities 2555 Long term liabilities: Mortgage payable 2340 Notes payable 1200 Shareholders Equity: Owner's capital 14026 Total Liabilities & Shareholders Equity 20121
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.