Question: My balance sheet does not balance please correct the missing information from trial balance and correct the balance sheet below. 2016 Dr Cr Accounts Payable
My balance sheet does not balance please correct the missing information from trial balance and correct the balance sheet below.
| 2016 | ||
| Dr | Cr | |
| Accounts Payable | 1,079,837 | |
| Accounts Receivable | 3,245,967 | |
| Accrued Liabilities - Other | 721,358 | |
| Accrued Pension Liabilities | 450,356 | |
| Accrued Restructuring Charges | 90,476 | |
| Accrued Salaries, Wages and Commissions | 350,191 | |
| Accumulated Other Comprehensive Income (Loss) | 85,000 | |
| Accumulated Depreciation - Property, Plant & Equipment | 1,999,999 | |
| Accumulated Post-Employment Benefit Obligation (long-term) | 402,634 | |
| Additional Paid-in Capital, Common Stock | 299,304 | |
| Additional Paid-in Capital, Preferred Stock | 75 | |
| Allowance for Doubtful Accounts | 124,645 | |
| Bonds Payable | 249,046 | |
| Cash and Cash Equivalents | 751,329 | |
| Common Stock ($1.00 par value) authorized 900 million shares issued 300 million shares in 2016, 284 million in 2015 | 284,000 | |
| Cost of Goods Sold | 2,763,584 | |
| Current Portion of Long-term Debt | 849,869 | |
| Deferred Tax Assets (current) | 81,236 | |
| Deferred Tax Liabilities (long-term) | 440,263 | |
| Depreciation Expense | 311,236 | |
| Dividends - Common | 214,956 | |
| Dividends - Preferred | 945 | |
| General & Administrative Expenses | 1,459,695 | |
| Goodwill and Other Intangibles | 3,212,491 | |
| Income Taxes Payable | 102,563 | |
| Interest Expense | 250,000 | |
| Interest Income | 18,227 | |
| Investments in unconsolidated affiliated companies | 1,456,896 | |
| Inventories | 224,561 | |
| Long-term Debt | 3,702,700 | |
| (Loss) Income from Discontinued Operations, net of tax | 7,453 | |
| Preferred Stock ($10 par value) authorized 10 million shares issued 90,000 shares in 2016, 90,000 in 2015 | 900 | |
| Prepaid Expenses | 170,296 | |
| Property, Plant and Equipment | 3,936,726 | |
| Provision for income taxes | 201,636 | |
| Research and Development Expenses | 496,597 | |
| Restructuring Charges | 255,013 | |
| Retained Earnings, beginning | 5,173,286 | |
| Sales | 6,526,967 | |
| Selling Expenses | 58,890 | |
| Short-term Investments | 26,800 | |
| Treasury Stock, at cost - 117,156,719 shares in 2016 and 108,822,953 shares in 2015 | 4,263,984 | |
| Unearned Revenues | 423,689 | |
| 23,382,838 | 23,382,838 | |
| Brady and Co. | |||
| Balance Sheet | |||
| As of December 31, 2016 | |||
| Assets | |||
| Current Assets | |||
| Cash and Cash Equivalents | 751,329 | ||
| Short-term Investments | 26,800 | ||
| Accounts Receivable | 3,245,967 | ||
| Less Allowance for Doubtful Accounts | 124,645 | ||
| Net Account Receivable | 3,121,322 | ||
| Inventories | 224,561 | ||
| Prepaid Expenses | 170,296 | ||
| Deferred Tax Assets (current) | 81,236 | ||
| Total Current Assets | 4,375,544 | ||
| Long-Term Assets | |||
| Property, Plant and Equipment | 3,936,726 | ||
| Accumulated Depreciation - Property, Plant & Equipment | 1,999,999 | ||
| Net PPE | 1,936,727 | ||
| Investments in unconsolidated affiliated companies | 1,456,896 | ||
| Goodwill and Other Intangibles | 3,212,491 | ||
| Total Assets | 10,981,658 | ||
| Liabilities | |||
| Current Liabilities | |||
| Accounts Payable | 1,079,837 | ||
| Income Tax Payable | 102,563 | ||
| Accrued Salaries, Wages and Commissions | 350,191 | ||
| Accrued Liabilities - Other | 721,358 | ||
| Accrued Restructuring Charges | 90,476 | ||
| Current Portion of Long-term Debt | 849,869 | ||
| Unearned Revenues | 423,689 | ||
| Total Current Liabilities | 3,617,983 | ||
| Long-Term Liabilities | |||
| Long-term Debt | 3,702,700 | ||
| Deferred Tax Liabilities (long-term) | 440,263 | ||
| Bonds Payable | 249,046 | ||
| Accrued Pension Liabilities | 450,356 | ||
| Total Long-TermLiabilities | 4,842,365 | ||
| Total Liabilities | 8,460,348 | ||
| Equity | |||
| Accumulated Other Comprehensive Income (Loss) | (85,000) | ||
| Accumulated Post-Employment Benefit Obligation (long-term) | 402,634 | ||
| Retained Earnings | 6,143,293 | ||
| Common Stock ($1.00 par value) authorized 900 million shares issued 300 million shares in 2016, 284 million in 2015 | 284,000 | ||
| Preferred Stock ($10 par value) authorized 10 million shares issued 90,000 shares in 2016, 90,000 in 2015 | 900 | ||
| Additional Paid-in Capital, Common Stock | 299,304 | ||
| Additional Paid-in Capital, Preferred Stock | 75 | ||
| Treasury Stock, at cost - 117,156,719 shares in 2016 and 108,822,953 shares in 2015 | (4,263,984) | ||
| Total Equity | 2,781,222 | ||
| Total Liabilities and Equity | 11,241,570 | ||
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