ACCOUNTING 2101/6101- TESTING YOUR KNOWLEDGE CHAPTER 5 The Columbus Corporation began operations on January 1, 20x1. A preliminary draft ofa Page 1 balance sheet for the Columbus Corporation as of December 31, 20x5 is presented below Columbus Corporation Balance Sheet (draft) December 31, 20x5 Accounts with debit balances) Accounts receivable Bond Retirement Fund Buildings Cash Equipment Land $ 112,0o0 221,760 1,712,000 179,970 1,120,000 1,211,000 305,858 1,155 10,304 87,400 $ 4,961,447 Merchandise Inventory Office supplies Prepaid Insurance Treasury Stock Total (Accounts with credit balances) $ 350,000 Accounts payable Accumulated depreciation- buildings Accumulated depreciation - equipment Bonds payable (due October 1, 20x1) Capital - appreciated value of land Capital stock Dividends payable Income taxes payable Notes payable (short-term) Notes payable (long-term) Retained earnings 700,000 200,000 1,288,000 19,100 108,500 117,600 420,000 Total (Note: See next page for additional information.)