Presented below is the trial balance of Scott Butler Corporation at December 31, 2020. Cash Sales...
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Presented below is the trial balance of Scott Butler Corporation at December 31, 2020. Cash Sales Debt Investments (trading) (at cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Debit $ 197,000 153,000 4,800,000 299,000 277,000 2,000,000 260,000 1,040,000 435,000 Credit $8,100,000 90,000 455,000 63,000 136,000 96,000 152,000 25,000 Administrative Expenses Interest Expense Inventory Gain Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par Totals 900,000 211,000 597,000 600,000 160,000 191,000 195,000 80,000 900,000 1,000,000 60,000 1,000,000 78,000 80,000 $12,315,000 $12,315,000 Prepare a balance sheet at December 31, 2020, for Scott Butler Corporation. (Ignore income taxes). (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.) Presented below is the trial balance of Scott Butler Corporation at December 31, 2020. Cash Sales Debt Investments (trading) (at cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Debit $ 197,000 153,000 4,800,000 299,000 277,000 2,000,000 260,000 1,040,000 435,000 Credit $8,100,000 90,000 455,000 63,000 136,000 96,000 152,000 25,000 Administrative Expenses Interest Expense Inventory Gain Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par Totals 900,000 211,000 597,000 600,000 160,000 191,000 195,000 80,000 900,000 1,000,000 60,000 1,000,000 78,000 80,000 $12,315,000 $12,315,000 Prepare a balance sheet at December 31, 2020, for Scott Butler Corporation. (Ignore income taxes). (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)
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Balance sheet Equity and Amount liabilities S Equity Non current lia... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
Posted Date:
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