Chapter 5

Please complete the classified balance sheet based on the following trial balance

Debit

Credit

Cash

$ 167,000.00

Sales Revenue

$ 1,500,000.00

Debt Investments (trading) at cost $120,000

$ 160,000.00

Cost of Goods Sold

$ 500,000.00

Debt Investments (long term)

$ 550,000.00

Equity Investment (long term)

$ 300,000.00

Notes Payable (short Term)

$ 300,000.00

Accounts Payable

$ 700,000.00

Investment Revenue

$ 30,000.00

Selling Expense

$ 200,000.00

Buildings

$ 1,200,000.00

Land

$ 500,000.00

Dividends Payable

$ 210,000.00

Accrued Liabilities

$ 350,000.00

Accounts Recievable

$ 500,000.00

Allowance for Doubtful Accounts

$ 50,000.00

Accumulated Depreciation -Building

$ 300,000.00

Administrative Expense

$ 100,000.00

Interest Expense

$ 50,000.00

Gain

$ 70,000.00

Inventory

$ 625,000.00

Notes Payable (long-term)

$ 600,000.00

Bonds Payable

$ 900,000.00

Equipment

$ 680,000.00

Accumulated Depreciation - Equipment

$ 260,000.00

Common Stock ($4 par)

$ 400,000.00

Franchises

$ 240,000.00

Treasury Stock

$ 138,000.00

Patents

$ 160,000.00

Retained Earnings

$ -

Paid-in-Capital in Excess of Par

$ 400,000.00

Total

$ 6,070,000.00

$ 6,070,000.00

Put these numbers into the classifed balance sheet format similar to exercise 5-12 and Illustation 5-16 on page 5-15