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Balance Sheet, see attached file Problem 12-6A The following data, presented in alphabetical order, are taken from the records of Radar Corporation. Accounts payable $240,00
Balance Sheet, see attached file
Problem 12-6A The following data, presented in alphabetical order, are taken from the records of Radar Corporation. Accounts payable $240,00 0 Accounts receivable 140,000 Accumulated depreciationbuildings 180,000 Accumulated depreciationequipment 52,000 Allowance for doubtful accounts 6,000 Bonds payable (10%, due 2020) 500,000 Buildings 950,000 Cash 42,000 Common stock ($10 par value; 500,000 shares authorized, 150,000 shares issued) 1,500,00 0 Dividends payable 80,000 Equipment 275,000 Fair value adjustmentnon-trading securities (Dr) 8,000 Goodwill 200,000 Income taxes payable 120,000 Inventory 170,000 Investment in Mara common stock (30% ownership), at equity 380,000 Investment in Sasse common stock (10% ownership), at cost 278,000 Land 390,000 Notes payable (due 2015) 70,000 Paid-in capital in excess of parcommon stock 130,000 Premium on bonds payable 40,000 Prepaid insurance 16,000 Retained earnings 103,000 Short-term investment, at fair value (and cost) 180,000 Unrealized gainnon-trading securities 8,000 The investment in Sasse common stock is considered to be a long-term non-trading security. Prepare a classified balance sheet at December 31, 2014. (List assets in order of liquidity. Property, plant and equipment list in order of land, buildings and equipment.)Step by Step Solution
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