Develop a vision statement for any organization of your choice. Your vision statement should be designed to encourage a high-performing and competitive future for the organization and promote servant leadership.
January 17, 2018
Prepare a classified balance sheet in good form. (List Current Assets in order of liquidity. For Land, Treasury Stock, Notes Payable, Preferred Stock Investments, Notes Receivable, Receivables-Officers, Inventory, Bonds Payable, and Restricted Cash, enter the account name only and do not provide the descriptive information provided in the question.)
January 17, 2018

Koch Corporation’s adjusted trial balance contained the following asset accounts at December 31, 2014: Cash $7,000; Land $40,000; Patents $12,500; Accounts Receivable $90,000; Prepaid Insurance $5,200

Brief Exercise 5-2

Koch Corporation’s adjusted trial balance contained the following asset accounts at December 31, 2014: Cash $7,000; Land $40,000; Patents $12,500; Accounts Receivable $90,000; Prepaid Insurance $5,200; Inventory $30,000; Allowance for Doubtful Accounts $4,000; Equity Investments (trading) $11,000.

Prepare the current assets section of the balance sheet. (List Current Assets in order of liquidity.)

Koch Corporation
Balance Sheet (Partial)
December 31, 2014

:

$

$

(b)Treasury Stock.
(c)Common Stock.
(d)Dividends Payable.
(e)Accumulated Depreciation-Equipment.
(f)(1)Construction in Process (Constructed for another party).
(f)(2)Construction in Process (Constructed for the use of Deep Blue Something, Inc.).
(g)Petty Cash.
(h)Interest Payable.
(i)Deficit.
(j)Equity Investments (trading).
(k)Income Taxes Payable.
(l)Unearned Subscription Revenue.
(m)Work in Process.
(n)Salaries and Wages Payable.
 

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