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Presented below is the adjusted trial balance of Dubai Corporation at December31, 2020. Current Assets: Cash $190,000 Trading securitiesat fair value 80,000 Accounts receivable 250,000

Presented below is the adjusted trial balance of Dubai Corporation at December31, 2020.

Current Assets:

Cash

$190,000

Trading securitiesat fair value

80,000

Accounts receivable

250,000

Allowance for doubtful accounts

$10,000

Inventories, at lower of average cost or market

400,000

Supplies

60,000

Oil & Gas

40,000

Prepaid rent

16,000

Prepaid expenses

14,000

Total current assets

Long-term investments:

Land held for future use

800,000

LT investments

500,000

Property, plant, and equipment

Building

300,000

Accumulated. Dep. building

50,000

Equipment

700,000

Accumulated Dep. equipment

150,000

Intangible assets

Goodwill

30,000

Copyrights

25,000

Total Assets

Current liabilities
Accounts payable 75,000
Notes payable (due next year) 55,000
Rent payable 35,000
Total current liabilities
Long-term liabilities
Bonds payable 355,000
Premium on bonds payable 5,000
Pension obligation 85,000
LT loan 600,000
Total liabilities
Stockholders' equity
Common stock, $2 par, authorized 800,000 shares, issued 500,000 shares 1,000,000
Additional paid-in capital CS 300,000
Preferred stock, $5 par, issued 50,000 250,000
Additional paid-in capital PS 100,000
Retained earnings 335,000
Total stockholders' equity
Total liabilities and stockholders' equity 3,405,000 3,405,000

Prepare the following:

  1. current assets section of balance sheet.
  2. LT investment section of balance sheet.
  3. Intangible assets section of balance sheet.
  4. Other assets section of balance sheet.
  5. Current liabilities section of balance sheet.
  6. LT liabilities section of balance sheet.
  7. Stockholders' equity section of balance sheet.
  8. Complete balance sheet.

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