Q 3-4 Usually, current assets are listed in a specific order,starting with cash. What is the objective of this order of listing?Q 3-5 Differentiate between marketable securities and long-terminvestments. What is the purpose of owning each? Q 3-6Differentiate between accounts receivable and accounts payable.

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5 May 2019

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The following is the ending balances of accounts at December 31,2016, for the Vosburgh Electronics Corporation.

Account Title	Debits		Credits
Cash		105,000
Short-terminvestments		220,000
Accountsreceivable		161,000
Long-terminvestments		54,000
Inventories		234,000
Loans toemployees		59,000
Prepaid expenses(for 2017)		35,000
Land		299,000
Building		1,740,000
Machinery andequipment		656,000
Patent		171,000
Franchise		59,000
Note receivable		345,000
Interestreceivable		31,000
Accumulateddepreciationâbuilding				639,000
Accumulateddepreciationâequipment				229,000
Accountspayable				208,000
Dividends payable(payable on 1/16/17)				29,000
Interestpayable				35,000
Taxes payable				59,000
Deferredrevenue				79,000
Notes payable				338,000
Allowance foruncollectible accounts				27,000
Common stock				2,076,000
Retainedearnings				450,000

Totals		4,169,000		4,169,000

Additionalinformation:

1.	The common stock represents 1.6 million shares of no par stockauthorized, 690,000 shares issued and outstanding.
2.	The loans to employees are dueon June 30, 2017.
3.	The note receivable is due in installments of $69,000, payableon each September 30. Interest is payable annually.
4.	Short-term investments consist of marketable equity securitiesthat the company plans to sell in 2017 and $69,000 in treasurybills purchased on December 15 of the current year that mature onFebruary 15, 2017. Long-term investments consist of marketableequity securities that the company does not plan to sell in thenext year.
5.	Deferred revenue represents customer payments for extendedservice contracts. Eighty percent of these contracts expire in2017, the remainder in 2018.
6.	Notes payable consists of two notes, one for $119,000 due onJanuary 15, 2018, and another for $219,000 due on June 30,2019.

Required:

Prepare a classified balance sheet for Vosburgh at December 31,2016. (Amounts to be deducted should be indicated by aminus sign.)

jademouse658

Consider the following balance sheet:

BestCare HMO

Balance Sheet

June 30, 2011

(in thousands)

Assets

Current Assets:

Cash $2,737

Net premiums receivable 821

Supplies 387

Total current assets $3,945

Net property and equipment $5,924

Total assets $9,869

Liabilities and Net Assets

Accounts payableâmedical

Services $2,145

Accrued expenses 929

Notes payable 382

Total current liabilities $3,456

Long-term debt $4,295

Total liabilities $7,751

Net assetsâunrestricted

(equity) $2,118

Total liabilities and net

Assets $9,869

Consider the following financial statements for Green Valley Nursing Home, Inc. a for profit long-term care facility:

Green Valley Nursing Home Inc.
Balance Sheet
December 31, 2011
Assets
Current assets:
Cash $105,737
Marketable securities 200,000
Net patient accounts receivables 215,600
Supplies 87,655
Total current assets $608,992
Property and equipment $2,250,000
Less accumulated depreciation 356,000
Net property and equipment $1,894,000
Total assets $2,502,992
Liabilities and Shareholder?s Equity
Current liabilities:
Accounts payable $72,250
Accrued expenses 192,900
Notes payable 100,000
Current portion of long-term debt 80,000
Total current liabilities $445,150
Long term debt $1,700,000
Shareholders? Equity:
Common stock, $10 par value $100,000
Retained earnings 257,842
Total shareholder?s equity $357,842
Total liabilities and shareholders? equity $2,502,992

A. WHAT IS THE PRIMARY DIFFERENCE BETWEEN THESE 2 STATEMENTS

c. What was Green Valley's total debt ratio?*************************************
Current liabilities
LT liabilities
Total liabilities (debt)
Total assets
Total debt ratio

Current assets				Current liabilities

	Cash	$72,000				Accounts payable	$12,000
	Accounts receivable	18,000				Interest payable	12,000
	Interest receivable	1,000
	Inventory	60,000
Total current assets		$151,000		Total current liabilities			$24,000

Long-term assets				Long-term liabilities

	Equipment (net of depreciation)	$128,000				Note payable	100,000

Total long-term assets		$128,000		Total long-term liabilities			$100,000

				Equity
						Common stock	10,000
						Paid-in capital	50,000
						Retained earnings	95,000

					Total equity			$155,000

Total assets			279,000		Total liabilities and equity			$279,000