Prepare a balance sheet Cash Sales Debt Investments (trading) (cost, $145,000) Cost of Goods Sold Debt Investments

Prepare a balance sheet
 

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Cash Sales Debt Investments (trading) (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 Interest Expense Inventory Gain (extraordinary) Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par Totals Debit $ 198,500 157,040 4,800,000 300,500 278,500 2,004,040 264,040 1,041,500 439,040 903,950 214,950 598,500 604,040 160,000 195,040 195,000 Credit $ 8,104,040 94,040 459,040 66,950 137,500 100,040 152,000 29,040 83,950 901,500 1,001,500 60,000 1,004,040 79,500 81,500 $12,354,640 $12,354,640 Cash Sales Debt Investments (trading) (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 Interest Expense Inventory Gain (extraordinary) Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par Totals Debit $ 198,500 157,040 4,800,000 300,500 278,500 2,004,040 264,040 1,041,500 439,040 903,950 214,950 598,500 604,040 160,000 195,040 195,000 Credit $ 8,104,040 94,040 459,040 66,950 137,500 100,040 152,000 29,040 83,950 901,500 1,001,500 60,000 1,004,040 79,500 81,500 $12,354,640 $12,354,640

Answer rating: 100% (QA)

Step 1 Balance Sheet Financial Position Statement Balance sheet is the statement of business assets ... View the full answer