The Following Balance Sheet Items from Fasoli, Inc -Read the Information About Fasoli, Inc

question 236

Essay

The following balance sheet items from Fasoli, Inc.are listed for December 31, 2016: $$\begin{array} { l r } \text { Accounts payable } & \$ 32,650 \\\text { Interest payable } & 2,200 \\\text { Accounts receivable } & 26,500 \\\text { Land } & 250,000 \\\text { Accumulated depreciation-buil dings } & 40,000 \\\text { Marketable securities } & 15,000 \\\text { Merchandise inventory } & 112,900 \\\text { Accumulated depreciation-equipment } & 12,500 \\\text { Notes payable, due April } 15,2017 & 6,500 \\\text { Office supplies } & 200 \\\text { Notes payable, due December } 31,2020 & 251,630 \\\text { Paid-in capital in excess of par value } & 75,000 \\\text { Buil dings } & 150,000 \\\text { Patents } & 45,000 \\\text { Capital stock, } \$ 1 \text { par value } & 200,000 \\\text { Prepaid rent } & 3,800 \\\text { Cash } & 60,990 \\\text { Retained earnings } & 113,510 \\\text { Equipment } & 84,500 \\\text { Sal aries payable } & 7,400 \\\text { Income taxes payable } & 7,500\end{array}$$
-Read the information about Fasoli, Inc.
Required:
Present the current liabilities section (including the total) of a classified balance sheet.

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Definitions:

Behaviour In Organizations

The study of how individuals and groups act within the contexts of business or organizational settings, including dynamics such as teamwork and leadership.

Leaders In Organizations

Individuals who influence and guide others within an organization towards achieving the organization's goals.

Organizational Events

Scheduled occurrences organized by a company or institution, ranging from internal meetings to public product launches or social gatherings.

Peers and Superiors

Individuals within an organization, where peers are colleagues at the same level and superiors are those in higher positions of authority or responsibility.