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Presented below is the trial balance of Ivanhoe Corporation at December 31,2020 Prepare a balance sheet at December 31,2020, for Ivanhoe Corporation. (Ignore income taxes)
Presented below is the trial balance of Ivanhoe Corporation at December 31,2020 Prepare a balance sheet at December 31,2020, for Ivanhoe Corporation. (Ignore income taxes) Debit Credit Cash $ 198,550 Sales $ 8,103,580 Debt Investments (trading) (at cost $145,000) Cost of Goods Sold 156,580 4,800,000 300.550 Debt Investments (long-term) Equity Investments (long-term) 278,550 Notes Payable (short-term) 93,580 Accounts Payable 458,580 Selling Expenses 2,003,580 Investment Revenue 67,440 Land 263,580 Buildings 1,041,550 Dividends Payable 137.550 Accrued Liabilities 99,580 Accounts Receivable 438,580 Accumulated Depreciation-Buildings 152,000 28.580 Allowance for Doubtful Accounts Administrative Expenses 904,440 215,440 Interest Expense Inventory 598,550 Gain 84,440 Notes Payable (long-term) 901.550 Equipment 603.580 Bonds Payable 1.001,550 Accumulated Depreciation-Equipment 60,000 Franchises 160,000 Common Stock ($5 par) 1,003.580 Treasury Stock 194.580 Patents 195,000 Retained Earnings Pald-in Capital in Excess of Par 79,550 81.550 $12.353.110 Totals $12,353,110 Assets Liabilities and Stockholders' Equity
Presented below is the trial balance of Ivanhoe Corporation at December 31,2020
Prepare a balance sheet at December 31,2020, for Ivanhoe Corporation. (Ignore income taxes)
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