Prepare a balance sheet at December 31, 2017, for Culver Corporation. Cash $ 201,180 Sales $ 8,104,150
Question:
Prepare a balance sheet at December 31, 2017, for Culver Corporation.
Cash | $ 201,180 | |||
Sales | $ 8,104,150 | |||
Debt Investments (trading) (cost, $145,000) | 157,150 | |||
Cost of Goods Sold | 4,800,000 | |||
Debt Investments (long-term) | 303,180 | |||
Equity Investments (long-term) | 281,180 | |||
Notes Payable (short-term) | 94,150 | |||
Accounts Payable | 459,150 | |||
Selling Expenses | 2,004,150 | |||
Investment Revenue | 67,230 | |||
Land | 264,150 | |||
Buildings | 1,044,180 | |||
Dividends Payable | 140,180 | |||
Accrued Liabilities | 100,150 | |||
Accounts Receivable | 439,150 | |||
Accumulated Depreciation-Buildings | 152,000 | |||
Allowance for Doubtful Accounts | 29,150 | |||
Administrative Expenses | 904,230 | |||
Interest Expense | 215,230 | |||
Inventory | 601,180 | |||
Gain (extraordinary) | 84,230 | |||
Notes Payable (long-term) | 904,180 | |||
Equipment | 604,150 | |||
Bonds Payable | 1,004,180 | |||
Accumulated Depreciation-Equipment | 60,000 | |||
Franchises | 160,000 | |||
Common Stock ($5 par) | 1,004,150 | |||
Treasury Stock | 195,150 | |||
Patents | 195,000 | |||
Retained Earnings | 82,180 | |||
Paid-in Capital in Excess of Par | 84,180 | |||
Totals | $12,369,260 | $12,369,260 |
Prepare a balance sheet at December 31, 2017, for Culver Corporation.
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers