1.)Create a balance sheet for the following itemsCash 22’000Notes payable 21’000Paid-in capital 190’000Accounts payable 16’000Land 41’000Building 241’000Long-term debt payable 134’000Merchandise inventory 29’000Machinery and equipment 20’000Furniture and fixtures 8’0002.)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 year3.) Prepare good final balance sheet
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