Cone Corporation is in the process of preparing its December 31,2018, balance sheet. There are some questions as to the properclassification of the following items:
- $56,000 in cash restricted in a savings account to pay bondspayable. The bonds mature in 2022.
- Prepaid rent of $30,000, covering the period January 1, 2019,through December 31, 2020.
- Note payable of $212,000. The note is payable in annualinstallments of $26,000 each, with the first installment payable onMarch 1, 2019.
- Accrued interest payable of $18,000 related to the notepayable.
- Investment in marketable securities of other corporations,$92,000. Cone intends to sell one-half of the securities in2019.
Required:
Prepare a partial classified balance sheet to show how each of theabove items should be reported.
