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Unformatted text preview: 189,000 Interest payable 16,000 Taxable payable 40,000 Dividends payable (payable on 1/16/10) 10,000 Total current liabilities: 255,000 Long-term liabilities: Note payable 300,000 Unaerned revenue 60,000 Total long-term liabilities: 360,000 Shareholders' equity: Common stock, no par,1 million shares authorized 500,000shares issued and outstanding 2,000,000 Retained Earnings 146,000 Total sharesholders' equity 2,146,000 Total liabilities and sharesholders' equity 2,761,000 Notes: (1)$50,000 treasure bills classified as marketable securities Purchased Dec. 15, 2009 (2) Nontrade Recievables classified as loans to employees (3) 4.8% interest due annually on notes receivables...
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This note was uploaded on 02/12/2012 for the course ECONOMICS 101 taught by Professor Obiene during the Spring '11 term at Essex County College.
- Spring '11