The following is the ending balances of accounts at december 31, 2016, for the vosburgh electronics corporation. account title debits credits cash 67,000 short-term investments 182,000 accounts receivable 123,000 long-term investments 35,000 inventories 215,000 loans to employees 40,000 prepaid expenses (for 2017) 16,000 land 280,000 building 1,550,000 machinery and equipment 637,000 patent 152,000 franchise 40,000 note receivable 250,000 interest receivable 12,000 accumulated depreciation—building 620,000 accumulated depreciation—equipment 210,000 accounts payable 189,000 dividends payable (payable on 1/16/17) 10,000 interest payable 16,000 taxes payable 40,000 deferred revenue 60,000 notes payable 300,000 allowance for uncollectible accounts 8,000 common stock 2,000,000 retained earnings 146,000 totals 3,599,000 3,599,000 additional information: 1. the common stock represents 1 million shares of no par stock authorized, 500,000 shares issued and outstanding.2. the loans to employees are due on june 30, 2017.3. the note receivable is due in installments of $50,000, payable on each september 30. interest is payable annually.4. short-term investments consist of marketable equity securities that the company plans to sell in 2017 and $50,000 in treasury bills purchased on december 15 of the current year that mature on february 15, 2017. long-term investments consist of marketable equity securities that the company does not plan to sell in the next year.5. deferred revenue represents customer payments for extended service contracts. eighty percent of these contracts expire in 2017, the remainder in 2018.6. notes payable consists of two notes, one for $100,000 due on january 15, 2018, and another for $200,000 due on june 30, 2019.required: prepare a classified balance sheet for vosburgh at december 31, 2016.

2016        Balance Sheet

$697,000  TOTAL CURRENT ASSETS  

$2,064,000  TOTAL NONCURRENT ASSETS  

$2,761,000  TOTAL ASSETS  

$303,000  TOTAL CURRENT LIABILITIES  

$312,000  TOTAL NONCURRENT LIABILITIES  

$615,000  TOTAL LIABILITIES  

$2,146,000  TOTAL EQUITY  

$2,761,000  TOTAL EQUITY + LIABILITIES

Explanation:

2016        Balance Sheet

$67,000  Cash

$132,000Marketable Securities

$50,000  Treasury Bills

$115,000  Accounts Receivable

$215,000Inventory

$16,000  Prepaid Expenses

$50,000  Note Receivable

$12,000  Interest Receivable

$40,000  Loans to Employees

$697,000  TOTAL CURRENT ASSETS  

$280,000Land

$637,000Machinery and Equipment

-$210,000Accum Depreciation

$1550,000Buildings

-$620,000Accum Depreciation

$152,000Patents

$40,000  Franchise

$200,000Note Receivable

$35,000  Marketable Securities Long Term

$2,064,000  TOTAL NONCURRENT ASSETS  

$2,761,000  TOTAL ASSETS  

$189,000  Accounts Payable  

$40,000   Taxes Payable  

$48,000   Deferred Revenue  

$16,000    Interest Payable  

$10,000    Dividends Payable  

$303,000  TOTAL CURRENT LIABILITIES  

$12,000     Deferred Revenue  

$300,000  Notes Payable  

$312,000  TOTAL NONCURRENT LIABILITIES  

$615,000  TOTAL LIABILITIES  

$2,000,000  Common Stock  

$146,000  Retained Earnings  

$2,146,000  TOTAL EQUITY  

$2,761,000  TOTAL EQUITY + LIABILITIES  

Cash

Marketable Securities

Treasury Bills

Accounts Receivable

Inventory

Prepaid Expenses

Note Receivable

Interest Receivable

Loans to Employees

Land

Machinery and Equipment

Accum Depreciation

Buildings

Accum Depreciation

Patents

Franchise

Note Receivable

Marketable Securities Long Term

Accounts Payable  

Taxes Payable  

Deferred Revenue  

Interest Payable  

Dividends Payable  

Deferred Revenue  

Notes Payable  

Common Stock  

Retained Earnings  

Liquidity is defined as the speed of the assets that will be converted into cash, assets that take less days to buy or sell are more liquid than others.

Cash is the most liquid asset, then Accounts Receivable and Inventories for the end, in the middle there are different assets such as capital investments.

Prepaid expenses are not liquid because these accounts do not mean that the company can get cash unless the company has rights to something.

88 because 4 plus 4 equals 8. 40 plus 40 equals 80. 80 plus 8 equals 88

how does that happen,where u steel points