Excel_Student_03-38kathyhaines

Excel_Student_03-38kathyhaines - 03-38 Name: kathy haines...

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03-38 Name: kathy haines Enter the appropriate amounts/formulas in the blue-shaded cells, or select from the drop-down lists. The word "Wrong" will appear to the left of incorrect entries. 1. PENNINGTON INVESTMENT CORPORATION Balance Sheet January 31, 2013 Assets Current assets: Cash on hand $96,250 Cash in banks 8,320 Investment securities (trading) 83,750 Notes receivable (current) $32,960 Accounts receivable 158,200 $191,160 Less: Allowance for doubtful notes and accounts receivable 24,700 166,460 Interest receivable 2,700 Claim for income tax refund 4,000 Inventory 201,500 Prepaid expenses: Prepaid insurance $3,900 Miscellaneous supplies inventory 4,200 8,100 Long-term investments: Cash fund for stock redemption $17,500 Investments in undeveloped properties 193,500 Property, plant, and equipment: Land $213,000 Buildings $320,000 Less: Accumulated depreciation - buildings 139,500 180,500 Machinery and equipment $165,500 116,300
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Excel_Student_03-38kathyhaines - 03-38 Name: kathy haines...

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