Required you determine that the account balances

Required:
You determine that the account balances listed on the balance sheet are correct but, in certain cases, incorrectly classified. Prepare a properly
classified balance sheet for the Stevens Company as of December 31, 2013.
STEVENS COMPANY
Balance Sheet
December 31, 2013
Assets
Current Assets
Cash
$
2300
Temporary investments in marketable securities 3200
Accounts receivable $ 5900
Less: Allowance for doubtful accounts 800 5100
Inventory
6000
Prepaid items:
Insurance $ 1200
Office supplies 800 2000
Total current assets
$
18600
Long­Term Investments
Investment in held­to­maturity bonds 10000
Property, Plant, and Equipment
Land

12/7/2014 Assignment 8
4/17
$
8100
Buildings and equipment
$
35600
Less: Accumulated depreciation 9200 26400
Total property, plant, and equipment 34500
Intangible Assets
Patents (net) 5000
Total Assets
$ 68100
Liabilities
Current Liabilities
Accounts payable
$
9900
Salaries payable 1500
Taxes payable 2500
Unearned rent 900
Total current liabilities
$
14800
Long­Term Liabilities
Bonds payable (due 2017)
$ 11000
Less: Discount on bonds payable 1000
Total long­term liabilities 10000
Total Liabilities $ 24800
Shareholders' Equity
Contributed Capital
Common stock, $10 par $ 12000
Additional paid­in capital on common stock 10400
Total contributed capital $ 22400
Retained earnings 24200
Total contributed capital and Retained earnings
$
46600
Less: Treasury stock (at cost) 3300
Total Shareholders' Equity $ 43300

12/7/2014 Assignment 8
4.
Your answer:
Wizard Company reports the following on its year­end adjusted trial balance: Long­Term Bonds Payable, $4,500; Unamortized Bond Discount,
$600; Accrued Pension Cost, $9,000; Mortgage Payable, $5,000; and Fund to Retire Long­Term Bonds Payable, $8,500.
Prepare the long­term liabilities section of Wizard’s year­end balance sheet.
5.
Your answer:
Use of Market Multiples
Pockey Company has assembled the following market data, based on commercial real estate sales in the area in the past six months, which
can be used to indirectly estimate the selling price of a building the company purchased.
The building purchased by Pockey Company, which is called "Building Z," has 33,000 square feet and a capitalization rate of 9.7%.
What is the fair value of Building Z? Round your final answer to the nearest dollar.