I-04.06 Problem

I-04.06 Problem - Dividends 50,000 Cash 182,345 Retained...

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I-04.06 Use this randomly arranged data to prepare a classified balance sheet for Imamani Corporation as of December 31, 20X5. Some of the accounts do not belong in the balance sheet, and 20% of the loan payable matures each June 30. Capital Stock 755,000 $ Patent 275,000 Accumulated depreciation (equipment) (477,654) Building 1,990,776 Land held for speculation 156,098
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Unformatted text preview: Dividends 50,000 Cash 182,345 Retained earnings 646,992 Accounts receivable 56,766 Accounts payable 78,011 Income tax expense 123,334 Prepaid insurance 3,883 Accumulated depreciation (building) (988,777) Loan payable 1,000,000 Equipment 887,885 Land 278,790 Interest payable 31,117 Inventories 121,008 Cash value of life insurance 25,000...
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