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Presented below is the trial balance of Carla Corporation at December 31, 2017. Debits Credits Cash $ 100,050 Sales $4,051,220 Trading Securities (at cost, $145,000)
Presented below is the trial balance of Carla Corporation at December 31, 2017. Debits Credits Cash $ 100,050 Sales $4,051,220 Trading Securities (at cost, $145,000) 77,720 Cost of Goods Sold 2,400,000 Long-term Investments in Bonds 151,050 Long-term Investments in Stocks 140,050 Short-term Notes Payable 46,220 Accounts Payable 228,720 Selling Expenses 1,001,220 32,900 Investment Revenue 131,220 Land 521,550 Buildings Land 131.220 Buildings 521,550 Dividends Payable 69.550 Accrued Liabilities 49.220 Accounts Receivable 218.720 Accumulated Depreciation-Buildings 76,000 Allowance for Doubtful Accounts 13.720 Administrative Expenses 451,400 Interest Expense 106,900 Inventories 300.050 Gain on Sale of Investments 41,400 Prior Period Adjustment-Depr. Error 70,000 Long-term Notes Payable 451.550 Equipment 301.220 501550 Bonds Payable Accumulated Depreciation-Equipment 30.000 -71 E Franchise (net of $80,000 amortization) 80.000 Common Stock ($5 par) 501,220 Treasury Stock 96.720 Patents (net of $30,000 amortization) 97.500 Retained Earnings 110,550 Additional Paid-in Capital 41.550 Totals $6,245,370 $6.245.370 Prepare a balance sheet at December 31, 2017, for Carla 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.) CARLA CORPORATION Balance Sheet Assets Liabilities and Stockholders' Equity SUN
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