Question

In: Accounting

Please place the information below in the correct categories listed on the balance sheet. Include Total...


Please place the information below in the correct categories listed on the balance sheet. Include
Total current assets, Total noncurrent assets, Total assets, Total current liabilities, Total noncurrent liabilities, Total liabilities and Net worth.

In which year did Best Choice Farms have the highest net worth?

Best Choice Farms' December 31 2018 and December 31 2019

2018

2019

Noncurrent portion payable notes

25,000

32,000

Accounts receivable

22,000

17,000

Short-term Notes Payable

12,000

26,000

Breeding Livestock

150,000

150,000

Less Accumulated expenses

-30,000

-42,000

Noncurrent portion real estate debt

115,000

111,000

Accounts Payable

32,000

35,000

Accrued Interest

2,000

3,000

Cash

20,000

122,000

Machinery and Equipment

380,000

360,000

Less Accumulated expenses

-165,000

-159,000

Cash in Growing Crops

25,000

25,000

Buildings and Improvements

160,000

160,000

Less Accumulated expenses

-66,000

-72,000

Land

240,000

240,000

Current Portion of Deferred Taxes

2,000

1,000

Noncurrent portion of deferred taxes

27,000

27,000

Prepaid Expenses

6,000

4,000

Crop Inventories

50,000

60,000

Income Taxes Payable

5,000

5,000

Solutions

Expert Solution

ekkarill92 answered 2 months ago
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