Retained earnings and balance sheet data: Accounts payable $194,300 Accounts receivable 545,000 Accumulated depreciationoffice buildings and equipment
Question:
Retained earnings and balance sheet data:
Accounts payable $194,300
Accounts receivable 545,000
Accumulated depreciation—office buildings and equipment 1,580,000
Accumulated depreciation—store buildings and equipment 4,126,000
Allowance for doubtful accounts 8,450
Bonds payable, 5%, due in 10 years 500,000
Cash 282,850
Common stock, $20 par (400,000 shares authorized;
85,000 shares issued, 94,600 outstanding), January 1, 20Y8 1,700,000
Dividends:
Cash dividends for common stock 155,120
Cash dividends for preferred stock 100,000
Goodwill 700,000
Income tax payable 44,000
Interest receivable 1,200
Inventory (December 31, 20Y8), at lower of cost (FIFO) or market 778,000
Office buildings and equipment 4,320,000
Paid-in capital from sale of treasury stock, January 1, 20Y8 0
Paid-in capital in excess of par—common stock, January 1, 20Y8 736,800
Paid-in capital in excess of par—preferred stock, January 1, 20Y8 70,000
Preferred 5% stock, $80 par (30,000 shares authorized;
16,000 shares issued), January 1, 20Y8 1,280,000
Premium on bonds payable 19,000
Prepaid expenses 27,400
Retained earnings, January 1, 20Y8 8,197,220
Store buildings and equipment 12,560,000
Treasury stock, January 1, 20Y8 0
Prepare a balance sheet in report form as of December 31, 20Y8.
Forensic And Investigative Accounting
ISBN: 9780808056300
10th Edition
Authors: G. Stevenson Smith D. Larry Crumbley, Edmund D. Fenton