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please correct the answers with a red X. Preparation of Balance Sheet Dooley Company's December 31 post-closing trial balance contains the following normal balances: Cash
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Preparation of Balance Sheet Dooley Company's December 31 post-closing trial balance contains the following normal balances: Cash $9,900 Accounts payable 19,800 Building 483,450 Long-term notes payable 863,500 Common stock 990,000 Retained earnings 77,000 Accumulated depreciation-Equipment 198,000 Land 912,450 Accounts receivable 24,750 Accumulated depreciation-Building 148,500 Wages payable 6,600 Patent (net of amortization) 132,000 Notes payable (short term) 144,100 Inventory 226,600 Equipment 660,000 Allowance for doubtful accounts 1,650 Prepare a December 31 classified balance sheet for Dooley Company. > $ 1,100 X 304,500 X >>> 420,000 X 155,900 X 120,000 X AAN 120,000 x 191,700 x $ $ $ Intangible Assets: Patent (net of amortization) Total Assets Liabilities Current Liabilities: Accounts Payable Wages Payable Notes Payable (short term) Total Current Liabilities Long-Term Liabilities: Notes Payable Total Liabilities Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 90,000 X 6,000 x 13,100 x 15,700 X 78,500 x 94,200 x . 900,000 x 7,500 X 97,500 x 191,700 X Step by Step Solution
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