(Preparation of a Balance Sheet) Presented below is the trial balance of Scott Butler Corporation at...
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(Preparation of a Balance Sheet) Presented below is the trial balance of Scott Butler Corporation at December 31, 2017. Debit Credit Cash $ 197,000 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 $ 8,100,000 153,000 4,800,000 299,000 277,000 90,000 455,000 2,000,000 63,000 Land 260,000 1,040,000 Buildings Dividends Payable 136,000 Accrued Liabilities 96,000 Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain 435,000 152,000 25,000 900,000 211,000 597,000 80,000 900,000 Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock (55 par) Treasury Stock Patents 600,000 1,000,000 60,000 160,000 1,000,000 191,000 195,000 Retained Earnings Paid-in Capital in Excess of Par 78,000 80,000 $12,315,000 $12.315,000 Totals Instructions Prepare a balance sheet at December 31, 2017, for Scott Butler Corporation. (Ignore income taxes.) (Preparation of a Balance Sheet) Presented below is the trial balance of Scott Butler Corporation at December 31, 2017. Debit Credit Cash $ 197,000 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 $ 8,100,000 153,000 4,800,000 299,000 277,000 90,000 455,000 2,000,000 63,000 Land 260,000 1,040,000 Buildings Dividends Payable 136,000 Accrued Liabilities 96,000 Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain 435,000 152,000 25,000 900,000 211,000 597,000 80,000 900,000 Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock (55 par) Treasury Stock Patents 600,000 1,000,000 60,000 160,000 1,000,000 191,000 195,000 Retained Earnings Paid-in Capital in Excess of Par 78,000 80,000 $12,315,000 $12.315,000 Totals Instructions Prepare a balance sheet at December 31, 2017, for Scott Butler Corporation. (Ignore income taxes.)
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Preparation of Balance sheet Scott Butler Corporation Balance sheet 31Dec17 Current Assets Cash 1970... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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