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Unformatted text preview: 6. Current assets are put in order of liquidity. 7. Treasury stock is not an asset and should be part of the stockholders equity 8. Notes receivable should be a current asset 9. The 5% debenture bonds should be shown on a line by itself 10. Capital stock should be shown at the par value of the shares issued and any excess should be included in a paid-in capital account. 11. Capital surplus and earned surplus I would call paid-in capital and retained earnings 12. The heading should maybe be a little more specific going by date and not by the period of time....
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This note was uploaded on 01/19/2012 for the course IS 281 taught by Professor Partebo during the Fall '10 term at Eastern New Mexico.
- Fall '10