You are provided with the following balance sheet accounts of New Bay Inc., a public company, as

Question:

You are provided with the following accounts of New Bay Inc., a public company, as at December 31, 2014:
Accounts payable...................................................$ 35,000
Accounts receivable...................................................60,000
Accumulated depreciation-equipment...........................40,000
Accumulated other comprehensive income.........................2,000
Allowance for doubtful accounts...................................10,000
Bonds payable, 8%, due 2016.....................................268,000
Cash.....................................................................22,000
Common shares, 10,000, no unlimited
authorized, 10,000 issued..........................................100,000
Equipment.............................................................66,000
Investment in associates.............................................55,000
Interest payable.......................................................18,000
Interest receivable......................................................1,500
Long-term equity investment, fair value...........................25,000
Long-term investment-Aliant Inc. bonds......................180,000
Note receivable, 5%, due April 21, 2018..........................60,000
Retained earnings.....................................................45,000
Trading investments, at fair value..................................48,500
Instructions
Prepare New Bay's classified at December 31, 2014.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Par Value
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