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Brandt Company presents the following December 31, 2019, balance sheet: Brandt Company Sheet of Balances for Year Ended December 31, 2019 Current assets $ 44,900
Brandt Company presents the following December 31, 2019, balance sheet:
Brandt Company Sheet of Balances for Year Ended December 31, 2019 | ||||
Current assets | $ 44,900 | Current liabilities | $ 66,600 | |
Long-term investments | 14,000 | Long-term liabilities | 23,700 | |
Property, plant, and equipment | 123,500 | Contributed capital | 17,000 | |
Intangible assets | 8,000 | Unrealized capital | 22,800 | |
Other assets | 13,600 | Retained earnings | 73,900 | |
Total assets | $204,000 | Total equities | $204,000 |
The following information is also available:
- Current assets include cash, $3,800; accounts receivable, $19,100; notes receivable (maturity date July 1, 2024), $10,000; and land, $12,000.
- Long-term investments include a $5,000 investment in available-for-sale securities that are expected to be sold in 2020 and a $9,000 investment in Dray Company bonds that are expected to be held until their December 31, 2022, maturity date.
- Property, plant, and equipment include buildings costing $63,400, inventory costing $30,500, and equipment costing $29,600.
- Intangible assets include patents that cost $8,500 (and on which $2,300 amortization has accumulated) and treasury stock that cost $1,800.
- Other assets include prepaid insurance (which expires on November 30, 2020), $2,900; sinking fund for bond retirement, $7,000; and trademarks that cost $3,700 and are not impaired.
- Current liabilities include accounts payable, $19,400; bonds payable (maturity date December 31, 2024), $40,000; and accrued income taxes payable, $7,200.
- Long-term liabilities include accrued wages, $3,700; and mortgage payable (which is due in five equal annual payments starting December 31, 2020), $20,000.
- Contributed capital includes common stock ($5 par), $11,000; and preferred stock ($100 par), $6,000.
- Unrealized capital includes premium on bonds payable, $4,300; additional paid-in capital on preferred stock, $2,400; additional paid-in capital on common stock, $14,700; and accumulated other comprehensive income, $1,400.
- Retained earnings includes unrestricted retained earnings, $39,200; allowance for doubtful accounts, $700; and accumulated depreciation on buildings and equipment of $21,000 and $13,000, respectively.
Required:
Based on the preceding information, prepare a properly classified December 31, 2019, balance sheet for Brandt.
Brandt Company Balance Sheet December 31, 2019 | |||
Assets | |||
Current Assets | |||
$fill in the blank 2 | |||
fill in the blank 4 | |||
$fill in the blank 6 | |||
fill in the blank 8 | fill in the blank 9 | ||
fill in the blank 11 | |||
fill in the blank 13 | |||
Total current assets | $fill in the blank 14 | ||
Long-Term Investments | |||
$fill in the blank 16 | |||
fill in the blank 18 | |||
fill in the blank 20 | |||
Total long-term investments | fill in the blank 21 | ||
Property, Plant, and Equipment | |||
$fill in the blank 23 | |||
$fill in the blank 25 | |||
fill in the blank 27 | fill in the blank 28 | ||
$fill in the blank 30 | |||
fill in the blank 32 | fill in the blank 33 | ||
Total property, plant, and equipment | fill in the blank 34 | ||
Intangible Assets | |||
$fill in the blank 36 | |||
fill in the blank 38 | |||
Total intangible assets | fill in the blank 39 | ||
Total Assets | $fill in the blank 40 | ||
Liabilities | |||
Current Liabilities | |||
$fill in the blank 42 | |||
fill in the blank 44 | |||
fill in the blank 46 | |||
fill in the blank 48 | |||
Total current liabilities | $fill in the blank 49 | ||
Long-Term Liabilities | |||
$fill in the blank 51 | |||
$fill in the blank 53 | |||
fill in the blank 55 | fill in the blank 56 | ||
Total long-term liabilities | fill in the blank 57 | ||
Total Liabilities | $fill in the blank 58 | ||
Shareholders' Equity | |||
Contributed Capital | |||
$fill in the blank 60 | |||
fill in the blank 62 | |||
fill in the blank 64 | |||
fill in the blank 66 | |||
Total contributed capital | $fill in the blank 67 | ||
fill in the blank 69 | |||
fill in the blank 71 | |||
Total contributed capital, retained earnings, and accumulated other comprehensive income | $fill in the blank 72 | ||
fill in the blank 74 | |||
Total Stockholders' Equity | $fill in the blank 75 | ||
Total Liabilities and Stockholders' Equity | $fill in the blank 76 |
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