P5-2Solution - PROBLEM 5-2 MONTOYA, INC. Balance Sheet...

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PROBLEM 5-2
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MONTOYA, INC. Balance Sheet December 31, 2010 Assets Current assets Cash. .................................................. $ 360,000 Trading securities. ........................... 121,000 Notes receivable. .............................. 445,700 Income taxes receivable. .................. 97,630 Inventories. ....................................... 239,800 Prepaid expenses. ............................ 87,920 Total current assets. .................. $1,352,050 Property, plant, and equipment Land. .................................................. $ 480,000 Building. ............................................ $1,640,000 Less: Accum. depreciation— building. ........................... 270,200 1,369,800 Equipment. ........................................ 1,470,000 Less: Accum. depreciation— equipment. ....................... 292,000 1,178,000 3,027,800 Intangible assets Goodwill. ........................................... 125,000 Total assets. ................................ $4,504,850
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P5-2Solution - PROBLEM 5-2 MONTOYA, INC. Balance Sheet...

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