1.)Create a balance sheet for the following items Cash 22’000 Notes payable 21’000 Paid-in capital 190’000 Accounts payable 16’000 Land 41’000 Building 241’000 Long-term debt payable 134’000 Merchandise inventory 29’000 Machinery and equipment 20’000 Furniture and fixtures 8’000 2.)Events and transactions – Purchase machinerynad equipment for 13’000, paying4’000 in cash and signing a 90-day note for the balance – paid 7’000 on accounts payable – sold some land fo r6’000 in cash (companies acquisition cos tof the land) – The remaining land wa svalued at 240’000 by professiona lappraisers – issued capita lstock as payment for 23’000 of th elong-term debt, that is, debt due beyond 1 year 3.) Prepare good final balance sheet
