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Prepare a 2021 balance sheet for Willis Corporation based on the following information: Cash =
$132,000; Patents and copyrights = $630,000; Accounts payable = $212,500; Accounts receivable
= $102,500; Tangible net fixed assets = $1,630,000; Inventory = $295,500; Notes payable =
$185,000; Accumulated retained earnings = $1,268,000; Long-term debt = $850,000. (Be sure to
list the accounts in order of their liquidity. Do not round intermediate calculations.) Prepare a 2021
balance sheet for Willis Corporation based on the following information: Cash = $132,000; Patents
and copyrights = $630,000; Accounts payable = $212,500; Accounts receivable = $102,500;
Tangible net fixed assets = $1,630,000; Inventory = $295,500; Notes payable = $185,000;
Accumulated retained earnings = $1,268,000; Long-term debt = $850,000. (Be sure to list the
accounts in order of their liquidity. Do not round intermediate calculations.)
Assets

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Prepare a 2021 balance sheet for Willis Corporation based on.pdf

  • 1. Prepare a 2021 balance sheet for Willis Corporation based on the following information: Cash = $132,000; Patents and copyrights = $630,000; Accounts payable = $212,500; Accounts receivable = $102,500; Tangible net fixed assets = $1,630,000; Inventory = $295,500; Notes payable = $185,000; Accumulated retained earnings = $1,268,000; Long-term debt = $850,000. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) Prepare a 2021 balance sheet for Willis Corporation based on the following information: Cash = $132,000; Patents and copyrights = $630,000; Accounts payable = $212,500; Accounts receivable = $102,500; Tangible net fixed assets = $1,630,000; Inventory = $295,500; Notes payable = $185,000; Accumulated retained earnings = $1,268,000; Long-term debt = $850,000. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) Assets