PLEASE USE THE BALANCE SHEET PROVIDED AS AN OUTLINE
The following is the ending balances of accounts at December for the Vosburgh Electronics Corporation. Additional information:
The receivables from employees are due on June
The notes receivable are due in installments of $ payable on each September Interest is payable annually.
Shortterm investments consist of securities that the company plans to sell in and $ in treasury bills purchased on
December of the current year that mature on February Longterm investments consist of securities that the company
does not plan to sell in the next year.
Deferred revenue represents payments from customers for extended service contracts. Eighty percent of these contracts expire
in the remainder in
Notes payable consists of two notes, one for $ due on January and another for $ due on June
Required:
Prepare a classified balance sheet for Vosburgh at December
Note: Amounts to be deducted should be indicated by a minus sign.Longterm liabilities:
Shareholders' equity:
