1 of 1 FALL 2020 ACCT 300 INTERMEDIATE ACCOUNTING 1 HOMEWORK #3 DUE ON MONDAY, SEPTEMBER 28, 2020 AT 2.00 PM Given below are selected account balances of Equity Corporation for the fiscal year ended July 31, 2020. You are required to fit the account balances into a trial balance, determine the missing number of retained earnings on July 31, 2020 and prepare a balance sheet in report (good) form for the company as at July 31, 2020. All accounts have normal balances and are in thousands of U.S.S Equipment 300.000 Accum. Depreciation - Equip 20,000 Interest Payable 6.500 Retained Earnings 7/31/2020 ? Land held for future use 180.000 Accounts Receivable 70.000 Bonds Payable (Mature in 2027) 45.000 Notes Payable (due in 8 months) 30.000 Common Stock 350.000 Preferred Stock 200.000 Prepaid Advertising 18.000 Buildings 400.000 Accum. Depreciation - Building 80,000 Supplies 9.000 Inventories 60,000 Income Taxes Payable 10,500 Salaries and Wages Payable 33,500 Cash 65,000 Goodwill 25,000 Copyrights 30.000 Equity investments (not trading) 100,000 Treasury stock 15,000 1