Unit 2 exercise311.xlsx - Goodwill 125,000 Payable Taxes...

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Goodwill 125,000 Payable Taxes Payable 177,591 Bonds Payable 300,000 Discount on Bonds Payable 15,000 Contra Liability Account Cash 360,000 Land 480,000 Notes Receivable 445,700 Notes Payable (short term) 265,000 Accounts Payable 490,000 Retained Earnings ? Income taxes receivable 97,630 Notes Payable (long term) 1,600,000 Accumulated Depreciation-Equipment 292,000 Inventory 45,000 Rent Payable (short-term) 480,000 Common Stock, $1 par value 200,000 Preferred Stock, $10 par value 150,000 Prepaid Expenses 87,920 Equipment 1,470,000 Debt Investments (trading) 121,000 Accumulated Depreciation-Buildings 270,200 Buildings 1,640,000 Interest Tax payable 98,362 Instructions: Prepare a Classified balance sheet for Travis Inc., Common Stock authorized was 400,000 nd preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term unless otherwise stated. Cost and fair value of equity are the same. Upload the completed balance sheet to Unit 2 activity no later than November 6 at 11:59.
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Rainmakers Dream provided the following information for the year 2017 Retained Earnings, January 1, 2017 600,000 Administrative expenses 240,000
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