Exercise 5-12

Presented below is the trial balance of Scott Butler Corporation at December 31, 2014.

		Debit		Credit
Cash		$ 201,060
Sales				$ 8,102,920
Debt Investments (trading) (cost, $145,000)		155,920
Cost of Goods Sold		4,802,920
Debt Investments (long-term)		303,060
Equity Investments (long-term)		281,060
Notes Payable (short-term)				92,920
Accounts Payable				457,920
Selling Expenses		2,002,920
Investment Revenue				64,870
Land		260,000
Buildings		1,044,060
Dividends Payable				140,060
Accrued Liabilities				98,920
Accounts Receivable		437,920
Accumulated Depreciation-Buildings				152,000
Allowance for Doubtful Accounts				27,920
Administrative Expenses		901,870
Interest Expense		212,870
Inventory		601,060
Gain (extraordinary)				81,870
Notes Payable (long-term)				904,060
Equipment		602,920
Bonds Payable				1,004,060
Accumulated Depreciation-Equipment				60,000
Franchises		160,000
Common Stock ($5 par)				1,002,920
Treasury Stock		193,920
Patents		195,000
Retained Earnings				82,060
Paid-in Capital in Excess of Par				84,060
Totals		$12,356,560		$12,356,560

Prepare a balance sheet at December 31, 2014, for Scott Butler Corporation. (Ignore income taxes). (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)