Exercise 5-12 Presented below is the trial balance of Vaughn Corporation at December 31, 2017. Debit Credit s 199,690 Cash Sales Debt Investments (trading) (cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue s 8,103,140 156,140 4,800,000 301,690 279,690 93,140 458,140 2,003,140 65,840 263,140 1,042,690 Land Buildings Dividends Payable 138,690 99,140 Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense 438,140 152,000 28,140 902,840 213,840 599,690 Inventory Gain (extraordinary) Notes Payable (long-term) 82,840 902,690 Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings 603,140 1,002,690 60,000 160,000 1,003,140 194,140 195,000 80,690 82,690 du gen/shared/assignment/test/aglisturind asnmt22 90257, NO066 Exercise 5-12 Presented below is the trial balance of Vaughn Corporation at December 31, 2017. Debit Credit s 199,690 Cash Sales Debt Investments (trading) (cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue s 8,103,140 156,140 4,800,000 301,690 279,690 93,140 458,140 2,003,140 65,840 263,140 1,042,690 Land Buildings Dividends Payable 138,690 99,140 Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense 438,140 152,000 28,140 902,840 213,840 599,690 Inventory Gain (extraordinary) Notes Payable (long-term) 82,840 902,690 Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings 603,140 1,002,690 60,000 160,000 1,003,140 194,140 195,000 80,690 82,690 du gen/shared/assignment/test/aglisturind asnmt22 90257, NO066