Part I: Classified balance sheet Bonus Opportunity (due...

Part I: Classified balance sheet Bonus Opportunity (due 2/20) 1. Use the following post-closing balance information at 12/31/20 to create a professional balance sheet. All amounts listed in thousands. Inventory 250 Deferred tax asset 150 Prepaid insurance 35 Accounts payable 40 Accumulated depreciation 6,000 Bonds payable (2030 maturity) 7,000 Note receivable (2022 maturity) 40 Equipment 3,000 Treasury stock 5 Accounts receivable 40 Premium on bonds payable 100 Preferred stock 500 Accumulated other comprehensive 25 Goodwill 200 income (debit balance) Allowance for doubtful accounts 3 Discount on notes receivable 4 Security FV adjustment - AFS (debit 10 Pension liability 350 balance) Additional paid-in capital 5,000 Cash and cash equivalents 600 Available for sale securities - debt 50 Common stock 30 (2025 maturity) Factories 15,000 Accrued expenses and payables 70 10% of the bonds will come due 7/1/21. 5% of the premium will expire with their maturity. 10% of the equipment account is no longer used in operations and is being held idle. 5% of the accumulated depreciation is associated with this idle equipment. 5% of the cash and cash equivalents are legally-restricted in accordance with agreements tied to the long-term bonds payable. Only 70% of the prepaid insurance contract will be used in 2021. The inventory in the ledger is presented at cost, the net realizable value of the inventory is $190,000.

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Bonus Opportunity (due 2/20) Part Is Classified balance sheet Use the following post-closing balance information at (12)/(31)/20 to create a professional balance sheet. All amounts listed in thousands. able[[Inventory,250,Deferred tax asset.,150],[Prepaid insurance,35,Accounts payable,40],[Accumulated depreciation,6,000,Bonds pasable (2030 maturity),7,000],[Notereceivable (2022 maturity),40,Equipment,3.000],[Treasury stock,5,Accounts receivable,40],[Premium on bonds parable,100,Preferred stock,500],[ able[[Accumulated other comprehensive],[income (debit balance)]],25,Goodwill,200],[Allowance for doubtfil accounts,3,Discount on notes receivable,4],[ able[[Security FV adjustment - AFS (debit],[balance)]],10,Pension liability,350],[Additional paidsin capital,5,000,Cash and cash equivalents,600],[ able[[Available for sale securities - debt],[( 2025 maturity)]],50,Common stock,30],[Factories,15,000,Accrued expenses and payables.,70]] 10% of the bonds will come due (7)/(1)/21. 5% of the premium will expire with their maturity. 10% of the equipment account is no longer used in operations and is being held idle. 5% of the accumulated depreciation is associated with this idle equipment. 5% of the cash and cash equivalents are legally-restricted in accordance with agreements tied to the longterm bonds payable. Only 70% of the prepaid insurance contract will be used in 2021. The inventory in the ledger is presented at cost, the net realizable value of the inventory is $190,000. Bonus Opportunity (due 2/20) PartI:Classified balance sheet l.Use the following post-closing balance information at 12/31/20 to create a professional balance sheet. All amounts listed in thousands. Inventory Prepaid insurance Accumulated depreciation Note receivable (2022 maturity) Treasury stock Premium on bonds payable Accumulated other comprehensive income(debit balance) Allowance for doubtful accounts Security FV adjustment -AFS (debit balance) Additional paid-in capital Available for sale securities --debt (2025 maturity) Factories 250 Deferred tax asset 35 Accounts payable 6,000 Bonds payable (2030 maturity) 40 Equipment 5 Accounts receivable 100 Preferred stock 25 Goodwill 150 40 7,000 3,000 40 500 200 3 10 Discount on notes receivable Pension liability 4 350 5,000 50 Cash and cash equivalents Common stock 600 30 15,000 Accrued expenses and payables 70 10% of the bonds will come due 7/1/21. 5% of the premium will expire with their maturity. 10% of the equipment account is no longer used in operations and is being held idle. 5% of the accumulated depreciation is associated with this idle equipment. 5% of the cash and cash equivalents are legally-restricted in accordance with agreements tied to the long-term bonds payable. Only 70% of the prepaid insurance contract will be used in 2021. The inventory in the ledger is presented at cost, the net realizable value of the inventory is $190,000.

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