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(Solved): The following is the ending balances of accounts at December 31,2024 , for the Vosburgh Electronics ...




The following is the ending balances of accounts at December 31,2024 , for the Vosburgh Electronics Corporation.
Additional i
4. Deferred revenue represents payments from customers for extended service contracts. Eighty percent of these contracts expi
Total intangible assets
\begin{tabular}{|c|c|} \hline Total assets \\ \hline \multicolumn{2}{|c|}{ Liabilities and Shareholde
The following is the ending balances of accounts at December 31,2024 , for the Vosburgh Electronics Corporation. Additional information: 1. The receivables from employees are due on June 30,2025 . 2. The notes recelvable are due in instaliments of , payable on each September 30 . Interest is payable annually. 3. Shortterm investments consist of securities that the company plans to sell in 2025 and in treasury bills purchased on December 15 of the current year that mature on February 15, 2025, Long-term investments consist of securities that the company does not plan to sell in the next year. 4. Deferred revenue represents payments from customers for extended service contracts. Eighty percent of these contracts expire 4. Deferred revenue represents payments from customers for extended service contracts. Eighty percent of these contracts expire In 2025 , the remainder in 2026. 5. Notes payable consists of two notes, one for due on January 15,2026 , and another for, due on June 30 , 2027. Required: Prepare a classified balance sheet for Vosburgh at December 31, 2024. Note: Amounts to be deducted should be indicated by a minus sign. Total intangible assets \begin{tabular}{|c|c|} \hline Total assets \\ \hline \multicolumn{2}{|c|}{ Liabilities and Shareholders' Equity } \\ \hline \end{tabular} Current liabilities:


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Preparation of classified balance sheet for Vosburgh at December 31, 2024 -Balance SheetAssets Current Assets:Cash$77,000Accounts Receivable133,000Les
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