Incomplete Assignment 1 - Microsoft Word AYOUT REFERENCES MAILINGS REVIEW VIEW Statement of Financial Position The Kraus Compary Balance Sheet fDecember 31, 2010 Cash 0.000 52,200 57,000 76,300 Accounts payable Long-term liabilities Stockholders' equity $ 75,000 100,000 218,500 Accounts receivable (net) Inventories Equipment (net) Patents $393,500 $393,500 The following additional information is prosided 1. Cash includes the cash surrender value of a life insurance policy $9,400, and a bank overdraft of $2,500 2. The net accounts receivable balance includes a) accounts receivable-debit balances $60,000 b) accounts receivable-credit balances $4,000, (c) allowance for doubtful accounts $3,800 3. Inventories do not include goods costing $3,000 shipped out on consignment. Receivables of $3,000 4. Investments include investments in common stock, trading $19,000 and available-for-sale $48,300, and 5. Equipment costing $5,000 with accumulated depreciation $4,000 is no longer used and is held for sale wercxecorded on these goods. franchises $9,000. Accumulated depreciation on the other equipment is $40,000 Required: Prepare a balance sheet in good form (stockholders' equity details can be omitted ) O STATE Google-Goo Incomplete Assign.. lip