Presented below is the trial balance of Scott Butler Corporation at December 31, 2025. Instructions Prepare a
Question:
Presented below is the trial balance of Scott Butler Corporation at December 31, 2025.
Instructions
Prepare a balance sheet at December 31, 2025, for Scott Butler Corporation. (Ignore income taxes.)
Transcribed Image Text:
Cash Sales Revenue 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 Administrative Expenses Debit $ 197,000 153,000 4,800,000 299,000 277,000 2,000,000 260,000 1,040,000 435,000 900,000 Credit $ 8,100,000 90,000 455,000 63,000 136,000 96,000 152,000 25,000
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Scott Butler Corporation Balance Sheet December 31 2025 Assets Current assets Cash 197000 Debt inves...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 9781119790976
18th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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