Question
Presented below is the trial balance of Swifty Corporation at December 31, 2017. Debit Credit Cash $ 198,550 Sales $ 8,103,580 Debt Investments (trading) (cost,
Presented below is the trial balance of Swifty Corporation at December 31, 2017.
Debit | Credit | |||
Cash | $ 198,550 | |||
Sales | $ 8,103,580 | |||
Debt Investments (trading) (cost, $145,000) | 156,580 | |||
Cost of Goods Sold | 4,800,000 | |||
Debt Investments (long-term) | 300,550 | |||
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 | |||
Allowance for Doubtful Accounts | 28,580 | |||
Administrative Expenses | 904,440 | |||
Interest Expense | 215,440 | |||
Inventory | 598,550 | |||
Gain (extraordinary) | 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 | 79,550 | |||
Paid-in Capital in Excess of Par | 81,550 | |||
Totals | $12,353,110 | $12,353,110 |
Prepare a balance sheet at December 31, 2017, for Swifty 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.)
SWIFTY CORPORATION Balance Sheet December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017 | ||||||
Assets | ||||||
Additional Paid-in CapitalCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term DebtLong-term InvestmentsPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
$ | ||||||
$ | ||||||
Add Less : | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | $ | |||||
Additional Paid-in CapitalCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
Additional Paid-in CapitalCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term DebtLong-term InvestmentsPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
Add Less : | ||||||
Add Less : | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
Additional Paid-in CapitalCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term DebtLong-term InvestmentsPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | $ | |||||
Liabilities and Stockholders' Equity | ||||||
Additional Paid-in CapitalCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term DebtLong-term InvestmentsPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
$ | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | $ | |||||
Additional Paid-in CapitalCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term DebtLong-term InvestmentsPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
Additional Paid-in CapitalCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term DebtLong-term InvestmentsPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
Additional Paid-in CapitalCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term DebtLong-term InvestmentsPaid-in CapitalProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
$ | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
Add Less : | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | ||||||
Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Debt Long-term Investments Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity | $ |
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