Locate the 2011 financial statements for Lockheed Martin Corporation on the internet. http://www.lockheedmartin.com/content/dam/lockheed/data/corporate/documents/2009-Annual-report.pdf

Reconstruct the company's adjusted trial balance as of December 31, 2011.

Hints:

Remember that the retained earnings balance on the December 31, 2011, balance sheet reflects the fact that all nominal accounts have been closed. To prepare a trial balance that includes nominal accounts, net income for the period must be subtracted and dividends must be added (obtained from the statement of stockholders equity) from the end-of-year balance to arrive at the beginning-of-year balance.

Keep in mind that you will have to construct this Trial Balance at a higher level than you are used to because you are beginning with the Financial Statements; you will not have the detail (as many line items/accounts) you are accustomed to.

Use the template provided below.

Lockheed Martin Corporation

Adjusted Trial Balance

31 DIC 2011

(In Millions)						Debits	Credits
Cash and Cash Equivalents
Short Term Investments
Receivables, net
Inventories, net
Deferred Income Taxes
Other Current Assets
Property, Plant, and Equipment, net
Goodwill
Deferred Income Taxes
Other Assets
Accounts Payable
Customer Advances in Amounts in Excess of Costs Incurred
Saleries, Benefits, and Payroll Taxes
Other current Liabilities
Long Term Debt, net
Accrued Pension Liabilities
Other Post Retirement Benefit Liabilities
Other Liabilities
Common Stock
Retained Earnings
Accumulated Other Comprehensive loss
Dividends
Treasury Stock
Total Net Sales
Total Cost of Sales
Other Income, net
Interest Expense
Other Non Operating Income, net
Income Tax expense
Net Earning (loss) from Discontinued operations
	Totals