Please prepare an adjusting entries based off the balance sheet given.
B CM Corporation Balance Sheet December 31, 2019 December 31, 2018 ssets $72,337 910,680 (84,962) 1,272,160 22,774 16,063 $120,670 576.454 (84.975) 847.460 18,841 4,612 2,209,052 0.57 1,483,062 0.65 8 Current assets 9 Cash and cash equivalents 10 Accounts receivable 11 Allowance for doubtful accounts 12 Inventory 13 Prepaid expenses 14 Other current assets Total current assets 16 17 Property, plant and equipment 18 Accumulated depreciation 19 Net fixed assets 20 21 Other Assets 22 Investments 23 Goodwill 24 Other intangible assets 1,560,192 (656,465) 1,100,105 (591,965) 903,727 0.23 508,140 0.22 140,186 397,740 253,900 100,150 87,740 108,700 791,826 0.20 296,590 0.13 Total assets $3,904,605 1.00 $2,287 792 1.00 Liabilities and Stockholders' Equity $1,169,343 32 Current liabilities 33 Accounts payable 34 Dividends payable 35 Unearned revenue 36 Interest payable 37 Wages payable 38 Payroll taxes payable 205,720 5,100 81,350 8,850 $315,395 48,000 73,500 6,500 112,920 9,033 279,850 0.38 845,198 0.37 0.15 278,525 0.12 39 Income taxes payable 40 Total current liabilities 1,470,363 41 "these accounts could be combined as one line called accrued liabilities 42 Long-term liabilities 588,500 43 44 Stockholders' equity 45 Contributed capital 46 Common stock, $2 par value (4,000,000 shares 47 authorized),460,000 shares issued of which 440,000 shares 48 are outstanding 920,000 49 Paid-in capital common stock 105,000 Total contributed capital 1,025,000 920,000 105,000 1,025,000 51 52 Accumulated other comprehensive income Retained earnings 1,220,742 539,069 (400,000) Less common stock in treasury, at cost Total stockholders' equity (400,000) 1.845,742 0.47 1.164,069 0.51 Total liabilities and stockholders' equity $3,904,605 1.00 $2,287,792 1.00 B CM Corporation Balance Sheet December 31, 2019 December 31, 2018 ssets $72,337 910,680 (84,962) 1,272,160 22,774 16,063 $120,670 576.454 (84.975) 847.460 18,841 4,612 2,209,052 0.57 1,483,062 0.65 8 Current assets 9 Cash and cash equivalents 10 Accounts receivable 11 Allowance for doubtful accounts 12 Inventory 13 Prepaid expenses 14 Other current assets Total current assets 16 17 Property, plant and equipment 18 Accumulated depreciation 19 Net fixed assets 20 21 Other Assets 22 Investments 23 Goodwill 24 Other intangible assets 1,560,192 (656,465) 1,100,105 (591,965) 903,727 0.23 508,140 0.22 140,186 397,740 253,900 100,150 87,740 108,700 791,826 0.20 296,590 0.13 Total assets $3,904,605 1.00 $2,287 792 1.00 Liabilities and Stockholders' Equity $1,169,343 32 Current liabilities 33 Accounts payable 34 Dividends payable 35 Unearned revenue 36 Interest payable 37 Wages payable 38 Payroll taxes payable 205,720 5,100 81,350 8,850 $315,395 48,000 73,500 6,500 112,920 9,033 279,850 0.38 845,198 0.37 0.15 278,525 0.12 39 Income taxes payable 40 Total current liabilities 1,470,363 41 "these accounts could be combined as one line called accrued liabilities 42 Long-term liabilities 588,500 43 44 Stockholders' equity 45 Contributed capital 46 Common stock, $2 par value (4,000,000 shares 47 authorized),460,000 shares issued of which 440,000 shares 48 are outstanding 920,000 49 Paid-in capital common stock 105,000 Total contributed capital 1,025,000 920,000 105,000 1,025,000 51 52 Accumulated other comprehensive income Retained earnings 1,220,742 539,069 (400,000) Less common stock in treasury, at cost Total stockholders' equity (400,000) 1.845,742 0.47 1.164,069 0.51 Total liabilities and stockholders' equity $3,904,605 1.00 $2,287,792 1.00
