Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare balance sheet Cash Sales Trading Securities ( at cost, $145,000) Cost Of Goods Sold Long-term Investments in Bonds Long-term Investments in Stocks Short-term Notes

image text in transcribed
Prepare balance sheet
image text in transcribed

Cash Sales Trading Securities ( at cost, $145,000) Cost Of Goods Sold Long-term Investments in Bonds Long-term Investments in Stocks Short-term Notes Payable Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventories Extraordinary Gain (Other comprehensive income) Long-term Notes Payable Equipment Bonds Payable Accumulated Depreciation-Equipment Franchise Common Stock ($5 par) Treasury Stock Patent Retained Earnings Paid-in Capital in Excess of Par -(Provision for Pension) Totals S 197,000 153.000 4,800.000 299,000 277,000 260.000 435,000 900,000 211.000 597,000 600,000 160,000 191,000 195,000 912.315.000 Credits 90,000 455,000 63,000 136.000 96,000 352,000 25,000 80.000 900,000 1000.000 60,000 78,000 80.000 512.315.000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac

14th edition

1305088433, 978-1305088436

More Books

Students also viewed these Accounting questions

Question

Journalize and post the adjusting entries.

Answered: 1 week ago

Question

Why is it necessary to journalize adjusting entries?

Answered: 1 week ago