Answer:
Account of Current Assets , the criteria is to have a liquidity speed less of one year
Cash
Prepaid Rent - Half of the prepaid rent it's on Non-Current Assets because it cover part of year 2023.
Investment in Equity Sec - Half of the Investment it's on Current Assets because part will be sell on 2022.
Account of Non Current Assets , the criteria is to have a liquidity speed more than one year and are known as fixed assets
Investment in Equity Sec
Prepaid Rent
Account of Current Liabilities , the criteria is to have a liquidity speed less of one year
Interest Payable - Accrued interest to be paid corresponds to the note payable.
Note Payable - Correspond to the installments to be paid on March 2022.
Account of Non-Current Liabilities , the criteria is to have a liquidity speed more than of one year
Note Payable - The note payable with mature more than one year.
Bond Payable - Bonds to mature in 2025 with the reserve on cash.
Explanation:
2021 Balance Sheet
$55,000 Cash
$14,500 Prepaid Rent
$45,000 Investment in Equity Sec
$114,500 TOTAL CURRENT ASSETS
$45,000 Investment in Equity Sec
$14,500 Prepaid Rent
$59,500 TOTAL NONCURRENT ASSETS
$174,000 TOTAL ASSETS
$17,000 Interest Payable
$25,000 Note Payable
$42,000 TOTAL CURRENT LIABILITIES
$185,000 Note Payable
$55,000 Bond Payable
$240,000 TOTAL NONCURRENT LIABILITIES
$282,000 TOTAL LIABILITIES
