Question
Presented below is the trial balance of the Corporation on December 31, 2019 Accounts Debit Credit Cash OMR 197,000 Sales Revenue OMR 8,100,000 Trading securities
Presented below is the trial balance of the Corporation on December 31, 2019
Accounts | Debit | Credit |
Cash | OMR 197,000 |
|
Sales Revenue |
| OMR 8,100,000 |
Trading securities | 153,000 |
|
Cost of Goods Sold | 5,132,000 |
|
Debt Investments (long-term) | 299,000 |
|
Equity Investments (long-term) | 277,000 |
|
Notes Payable (short-term) |
| 90,000 |
Accounts Payable |
| 455,000 |
Selling Expenses | 2,000,000 |
|
Investment Revenue |
| 63,000 |
Land | 260,000 |
|
Buildings | 1,040,000 |
|
Dividends Payable |
| 136,000 |
Accrued Liabilities |
| 96,000 |
Accounts Receivable | 435,000 |
|
Accumulated DepreciationBuildings |
| 352,000 |
Allowance for Doubtful Accounts |
| 25,000 |
Administrative Expenses | 900,000 |
|
Interest Expense | 211,000 |
|
Raw Materials | 97,000 |
|
Work In process | 250,000 |
|
Finished Goods | 250,000 |
|
Gain (extraordinary) |
| 80,000 |
Notes Payable (long-term) |
| 900,000 |
Equipment | 600,000 |
|
Bonds Payable (Due 2025) |
| 1,000,000 |
Accumulated DepreciationEquipment |
| 60,000 |
Franchises | 160,000 |
|
Share Capital |
| 1,000,000 |
Treasury shares | 191,000 |
|
Patents | 195,000 |
|
Retained Earnings |
| 210,000 |
Provision for pensions |
| 80,000 |
prepare a classifies balance sheet given the available information.
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