Included in Sage Company's December 31, 2020, trial balance are the following accounts: Prepaid Rent $5,870, Debt Investments (to be held to maturity until 2023) $70,400, Unearned Fees $24,400, Land (held for investment) $40,800, and Notes Receivable (long-term) $52,400. Prepare the long-term investments section of the balance sheet.

Step 1:

Start by setting it up with the divisor 20 on the left side and the dividend 16 on the right side like this:

2 0 ⟌ 1 6

Step 2:

The divisor (20) goes into the first digit of the dividend (1), 0 time (s). Therefore, put 0 on top:

0

2 0 ⟌ 1 6

Step 3:

Multiply the divisor by the result in the previous step (20 x 0 = 0) and write that answer below the dividend.

0

2 0 ⟌ 1 6

0

Step 4:

Subtract the result in the previous step from the first digit of the dividend (1 - 0 = 1) and write the answer below.

0

2 0 ⟌ 1 6

- 0

1

Step 5:

Move down the 2nd digit of the dividend (6) like this:

0

2 0 ⟌ 1 6

- 0

1 6

Step 6:

The divisor (20) goes into the bottom number (16), 0 time (s). Therefore, put 0 on top:

0 0

2 0 ⟌ 1 6

- 0

1 6

Step 7:

Multiply the divisor by the result in the previous step (20 x 0 = 0) and write that answer at the bottom:

0 0

2 0 ⟌ 1 6

- 0

1 6

0

Step 8:

Subtract the result in the previous step from the number written above it. (16 - 0 = 16) and write the answer at the bottom.

0 0

2 0 ⟌ 1 6

- 0

1 6

- 0

1 6

You are done, because there are no more digits to move down from the dividend.

The answer is the top number and the remainder is the bottom number.

Therefore, the answer to 16 divided by 20 calculated using Long Division is:

0

16 Remainder