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Presented below is the trial balance of Blossom Corporation at December 31, 2020. Prepare a balance sheet at December 31, 2020, for Blossom Corporation. (Ignore
Presented below is the trial balance of Blossom Corporation at December 31, 2020.
Prepare a balance sheet at December 31, 2020, for Blossom Corporation. (Ignore income taxes). (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)
Presented below is the trial balance of Blossom Corporation at December 31, 2020. Debit Credit Cash $ 199,940 Sales $ 8,102,810 Debt Investments (trading) (at cost, $145,000) 155,810 Cost of Goods Sold 4,800,000 Debt Investments (long-term) 301,940 Equity Investments (long-term) 279,940 Notes Payable (short-term) 92,810 Accounts Payable 457,810 Selling Expenses 2,002,810 Investment Revenue 67,260 Land 262,810 Buildings 1,042,940 Dividends Payable 138,940 Accrued Liabilities 98,810 Accounts Receivable 437,810 Accumulated Depreciation-Buildings 152,000 Allowance for Doubtful Accounts 27,810 Administrative Expenses 904,260 Interest Expense 215,260 Inventory 599,940 Gain 84,260 Notes Payable (long-term) 902,940 Equipment 602,810 Bonds Payable 1,002,940 Accumulated Depreciation-Equipment 60,000 Franchises 160,000 Common Stock ($5 par) 1,002,810 Treasury Stock 193,810 Patents 195,000 Retained Earnings 80,940 Paid-in Capital in Excess of Par 82,940 Totals $ 12,355,080 $ 12,355,080 BLOSSOM CORPORATION Balance Sheet Assets $ $ > Liabilities and Stockholders' Equity $ > $ v > V > >Step by Step Solution
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