Question

The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation.

Account Title	Debits			Credits
Cash		85,000
Short-term investments		200,000
Accounts receivable		141,000
Long-term investments		44,000
Inventory		224,000
Receivables from employees		49,000
Prepaid expenses (for 2022)		25,000
Land		289,000
Building		1,640,000
Equipment		646,000
Patent (net)		161,000
Franchise (net)		49,000
Notes receivable		295,000
Interest receivable		21,000
Accumulated depreciation—building				629,000
Accumulated depreciation—equipment				219,000
Accounts payable				198,000
Dividends payable (payable on 1/16/2022)				19,000
Interest payable				25,000
Income Taxes payable				49,000
Deferred revenue				69,000
Notes payable				318,000
Allowance for uncollectible accounts				17,000
Common stock				2,036,000
Retained earnings				290,000
Totals		3,869,000		3,869,000

Additional information:

1. The common stock represents 1.3 million shares of no par stock authorized, 590,000 shares issued and outstanding.
2. The receivables from employees are due on June 30, 2022.
3. The notes receivable are due in installments of $59,000, payable on each September 30. Interest is payable annually.
4. Short-term investments consist of securities that the company plans to sell in 2022 and $59,000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2022. Long-term investments consist of securities that the company does not plan to sell in the next year.
5. Deferred revenue represents payments from customer for extended service contracts. Seventy five percent of these contracts expire in 2022, the remainder in 2023.
6. Notes payable consists of two notes, one for $109,000 due on January 15, 2023, and another for $209,000 due on June 30, 2024.

Required:
Prepare a classified balance sheet for Vosburgh at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)

VOSBURGH ELECTRONICS CORPORATION

Balance Sheet

At December 31, 2021

Please fill in a balance sheet I can not seem to figure it out

Answer 1

Balance sheet
At decembet 31
Current Assets			Working
Cash & cash equivalents	$     144,000.00		85000+59000
Accounts receivable	$     124,000.00		141000-17000
Inventory	$     224,000.00
Prepaid expenses	$       25,000.00
Marketable securities	$     141,000.00		200000-59000
Note receivable-current portion	$       59,000.00
Interest receivable	$       21,000.00
loans to employees	$       49,000.00
Total current assets		$     787,000.00
Investments
Marketable securities	$       44,000.00
Note receivable	$     236,000.00		295000-59000
Total investments		$     280,000.00
Property plant and equipment
Land	$     289,000.00
Building	$ 1,640,000.00
Machinery & Equipment	$     646,000.00
	$ 2,575,000.00
Less:Accumulated depreciation—building	$   (629,000.00)
Less:Accumulated depreciation—equipment	$   (219,000.00)
Net property , plant and equipment		$ 1,727,000.00
Intangible assets
Patent (net)	$     161,000.00
Franchise (net)	$       49,000.00
Total Intangible assets		$     210,000.00
total assets		$ 3,004,000.00
Current liabilties
Accounts payable	$     198,000.00
Dividends payable	$       19,000.00
Interest payable	$       25,000.00
Income Taxes payable	$       49,000.00
Deferred revenue	$       51,750.00		69000*0.75
total current liabilties		$     342,750.00
Long term liabilities
Deferred revenue	$       17,250.00		69000-51750
Notes payable	$     318,000.00
total long term liabilities		$     335,250.00
total liabilities		$     678,000.00
sharehholders equity
Common stock	$ 2,036,000.00
retained earnings	$     290,000.00
Total sharehholders equity		$ 2,326,000.00
toal liabilities equity		$ 3,004,000.00