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Goodwill (Note 2) Buildings (Note 1) Inventory Land CORONADO CORPORATION BALANCE SHEET DECEMBER 31, 2025 Assets Accounts receivable Treasury stock (50,000 shares) Cash on hand Assets allocated to trustee for plant expansion Cash In bank Debt Investments (held-to-maturity) Equitles $201,200 2,260,000 217,700 617,800 297,200 69,700 135,800 51,200 137,200 $3,987,800 Notes payable (Note 3) $801,200 Common stock, authorized and Issued, 100,000 shares, no par 651,200 Retained earnings 1,277,800 Appreciation capital (Note 1) 426,200 Income tax payable 120,200 Reserve for depreciation recorded to date on the building 711,200 $3,987,800 Note 1: Buildings are stated at cost, except for one building that was recorded at appraised value. The excess of appraisal value over cost was $426,200. Depreciation has been recorded based on cost. Note 2: Goodwill In the amount of $201,200 was recognized because the company belleved that book value was not an accurate representation of the fair value of the company. The gain of $201,200 was credited to Retained Earnings. Note 3: Notes payable are long-term except for the current Installment due of $125,000. Prepare a corrected classified balance sheet In good form. The notes above are for Information only. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, and Buildings. Enter account name only and do not provide the descriptive information provided in the question.) CORONADO CORPORATION Balance Sheet Assets $

Goodwill (Note 2) Buildings (Note 1) Inventory Land CORONADO CORPORATION BALANCE SHEET DECEMBER 31, 2025 Assets Accounts receivable Treasury stock (50,000 shares) Cash on hand Assets allocated to trustee for plant expansion Cash In bank Debt Investments (held-to-maturity) Equitles $201,200 2,260,000 217,700 617,800 297,200 69,700 135,800 51,200 137,200 $3,987,800 Notes payable (Note 3) $801,200 Common stock, authorized and Issued, 100,000 shares, no par 651,200 Retained earnings 1,277,800 Appreciation capital (Note 1) 426,200 Income tax payable 120,200 Reserve for depreciation recorded to date on the building 711,200 $3,987,800 Note 1: Buildings are stated at cost, except for one building that was recorded at appraised value. The excess of appraisal value over cost was $426,200. Depreciation has been recorded based on cost. Note 2: Goodwill In the amount of $201,200 was recognized because the company belleved that book value was not an accurate representation of the fair value of the company. The gain of $201,200 was credited to Retained Earnings. Note 3: Notes payable are long-term except for the current Installment due of $125,000. Prepare a corrected classified balance sheet In good form. The notes above are for Information only. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, and Buildings. Enter account name only and do not provide the descriptive information provided in the question.) CORONADO CORPORATION Balance Sheet Assets $

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter14: Statement Of Cash Flows
Section: Chapter Questions
Problem 37E: During 20X1, Craig Company had the following transactions: a. Purchased 300,000 of 10-year bonds...
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Goodwill (Note 2) Buildings (Note 1) Inventory Land CORONADO CORPORATION BALANCE SHEET DECEMBER 31, 2025 Assets Accounts receivable Treasury stock (50,000 shares) Cash on hand Assets allocated to trustee for plant expansion Cash In bank Debt Investments (held-to-maturity) Equitles $201,200 2,260,000 217,700 617,800 297,200 69,700 135,800 51,200 137,200 $3,987,800 Notes payable (Note 3) $801,200 Common stock, authorized and Issued, 100,000 shares, no par 651,200 Retained earnings 1,277,800 Appreciation capital (Note 1) 426,200 Income tax payable 120,200 Reserve for depreciation recorded to date on the building 711,200 $3,987,800 Note 1: Buildings are stated at cost, except for one building that was recorded at appraised value. The excess of appraisal value over cost was $426,200. Depreciation has been recorded based on cost. Note 2: Goodwill In the amount of $201,200 was recognized because the company belleved that book value was not an accurate representation of the fair value of the company. The gain of $201,200 was credited to Retained Earnings. Note 3: Notes payable are long-term except for the current Installment due of $125,000. Prepare a corrected classified balance sheet In good form. The notes above are for Information only. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, and Buildings. Enter account name only and do not provide the descriptive information provided in the question.) CORONADO CORPORATION Balance Sheet Assets $
Transcribed Image Text:Goodwill (Note 2) Buildings (Note 1) Inventory Land CORONADO CORPORATION BALANCE SHEET DECEMBER 31, 2025 Assets Accounts receivable Treasury stock (50,000 shares) Cash on hand Assets allocated to trustee for plant expansion Cash In bank Debt Investments (held-to-maturity) Equitles $201,200 2,260,000 217,700 617,800 297,200 69,700 135,800 51,200 137,200 $3,987,800 Notes payable (Note 3) $801,200 Common stock, authorized and Issued, 100,000 shares, no par 651,200 Retained earnings 1,277,800 Appreciation capital (Note 1) 426,200 Income tax payable 120,200 Reserve for depreciation recorded to date on the building 711,200 $3,987,800 Note 1: Buildings are stated at cost, except for one building that was recorded at appraised value. The excess of appraisal value over cost was $426,200. Depreciation has been recorded based on cost. Note 2: Goodwill In the amount of $201,200 was recognized because the company belleved that book value was not an accurate representation of the fair value of the company. The gain of $201,200 was credited to Retained Earnings. Note 3: Notes payable are long-term except for the current Installment due of $125,000. Prepare a corrected classified balance sheet In good form. The notes above are for Information only. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, and Buildings. Enter account name only and do not provide the descriptive information provided in the question.) CORONADO CORPORATION Balance Sheet Assets $
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