Balance sheet preparation

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Reference no: EM13323148

Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc., for the current year, 2010.

Goodwill $ 125,000 Accumulated depreciation—equipment

Payroll taxes payable 177,591 $ 292,000

Bonds payable 300,000 Inventories 239,800

Discount on bonds payable 15,000 Rent payable—short-term 45,000

Cash 360,000 Taxes payable 98,362

Land 480,000 Long-term rental obligations 480,000

Notes receivable 445,700 Common stock, $1 par value 200,000

Notes payable to banks 265,000 Preferred stock, $10 par value 150,000

Accounts payable 490,000 Prepaid expenses 87,920

Retained earnings ? Equipment 1,470,000

Income taxes receivable 97,630 Trading securities 121,000

Unsecured notes payable (long-term) 1,600,000 Accumulated depreciation—building 270,200

Building 1,640,000

Reference no: EM13323148

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