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Below are the options Bonita Corporation's balance sheet at the end of 2019 included the following items. Current assets (Cash $82,000) $236,440 $151,440 Land 32,620
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Bonita Corporation's balance sheet at the end of 2019 included the following items. Current assets (Cash $82,000) $236,440 $151,440 Land 32,620 Current liabilities Bonds payable Common stock 101,440 Buildings 121,440 182.620 92.620 Retained earnings 46.620 Equipment Accum. depr-buildings (31,440) Total $482,120 Accum.depr-equipment (11,000) Patents 41,440 Total $482.120 The following information is available for 2020. 1. 2. 3. 4. 5. Net income was $53.950. Equipment (cost $21.440 and accumulated depreciation $9.440) was sold for $11,440. Depreciation expense was $5,440 on the building and $10,440 on equipment. Patent amortization was $2,500. Current assets other than cash increased by $29,000. Current liabilities increased by $14.440. An addition to the building was completed at a cost of $28,440. Along-term investment in stock was purchased for $16.000. Bonds payable of $52,620 were issued. Cash dividends of $30.000 were declared and paid. Treasury stock was purchased at a cost of $11,000. 6. 7. 8. 9. 10. Prepare a balance sheet at December 31, 2020. (Show only totals for current assets and current liabilities.) (List Property, Plant and Equipment in order of Land, Building and Equipment) BONITA CORPORATION Balance Sheet December 31, 2020 Assets $Step by Step Solution
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