The $134,000 balance in the land account consists of $107,000 for the cost of land where the plant and office buildings are located. the remaining $27,000 represents the cost of land being held for speculation. the $58,000 balance in the investment in equity securities account represents an investment in the common stock of another corporation. valley intends to sell one-half of the stock within the next year. the notes payable account consists of a $114,000 note due in six months and a $171,000 note due in three annual installments of $57,000 each, with the first payment due in august of 2022. prepare a classified balance sheet for the valley pump corporation at december 31, 2016. (amounts to be deducted should be indicated by a minus sign.)

Account of Current Assets , the criteria is to have a liquidity speed less of one year

Short Term Investment Stock - The total stock to be sell next year.

Account of Non Current Assets , the criteria is to have a liquidity speed more than one year and are known as fixed assets

Long Term Investment Stock - The half of the investment in the common stock of another corporation

Long Term Investment Land - Total Land being held for speculation

Land - The total land where the plant and office buildings are located.

Account of Current Liabilities , the criteria is to have a liquidity speed less of one year

Notes Payable Short Term - Total Notes due in six months.  

Account of Non Current Liabilities, the criteria is to have a liquidity speed more than one year and are known as long term financing

Notes Payable Long Term - Total Notes due in three installments on August 2022  

Explanation:

2016        Balance Sheet

$29,000  Short Term Investment Stock

$29,000   TOTAL CURRENT ASSETS  

$29,000  Long Term Investment Stock

$27,000  Long Term Investment Land

$107,000Land

$163,000  TOTAL NONCURRENT ASSETS  

$192,000  TOTAL ASSETS  

$114,000   Notes Payable  

$114,000     TOTAL CURRENT LIABILITIES  

$171,000   Notes Payable  

$171,000   TOTAL NONCURRENT LIABILITIES  

$285,000  TOTAL LIABILITIES  

explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.

answer; proclamation of 1763;