Prepare a balance sheet at December 31, 2014, for Scott Butler Corporation.
Presented below is the trial balance of Scott Butler Corporation at December 31, 2014.
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Credit |
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Cash |
$ 197,000 |
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Sales |
$ 8,100,000 |
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Debt Investments (trading) (cost, $145,000) |
153,000 |
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Cost of Goods Sold |
4,800,000 |
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Debt Investments (long-term) |
299,000 |
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Equity Investments (long-term) |
277,000 |
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Notes Payable (short-term) |
90,000 |
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Accounts Payable |
455,000 |
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Selling Expenses |
2,000,000 |
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Investment Revenue |
63,000 |
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Land |
260,000 |
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Buildings |
1,040,000 |
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Dividends Payable |
136,000 |
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Accrued Liabilities |
96,000 |
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Accounts Receivable |
435,000 |
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Accumulated Depreciation-Buildings |
152,000 |
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Allowance for Doubtful Accounts |
25,000 |
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Administrative Expenses |
900,000 |
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Interest Expense |
211,000 |
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Inventory |
597,000 |
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Gain (extraordinary) |
80,000 |
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Notes Payable (long-term) |
900,000 |
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Equipment |
600,000 |
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Bonds Payable |
1,000,000 |
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Accumulated Depreciation-Equipment |
60,000 |
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Franchises |
160,000 |
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Common Stock ($5 par) |
1,000,000 |
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Treasury Stock |
191,000 |
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Patents |
195,000 |
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Retained Earnings |
78,000 |
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Paid-in Capital in Excess of Par |
80,000 |
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| Totals |
$12,315,000 |
$12,315,000 |
Prepare a balance sheet at December 31, 2014, for Scott Butler Corporation. (Ignore income taxes).
(List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)
