Problem 1: Balance Sheet Post-closing trial balances of accounts (12/31/22) Common stock Accounts payable Accumulated other comprehensive income (debit balance) Interest payable (due 2023) Additional paid-in capital Marketable Securities (to be sold 2024) Inventory Goodwill Taxes payable Natural resource (gas reserves) Retained earnings Allowance for uncollectible accounts 100,000 Bonds payable LIFO reserve 30,000 50,000 Accounts receivable 22,500 Cash and equivalents 1,000,000 Discount on bonds payable 95,000 Equipment 420,000 Allowance for sales returns 400,000 Investment in debt securities (matures 2025) 70,000 Asset retirement obligation (due 2025) Patent Deferred revenue 1,000,000 811,500 23,000 Accumulated depreciation 750,000 70,000 230,000 CA 1. Determine the total book value of current assets. 2. 3. 4. Determine the total book value of property, plant and equipment. Determine the total book value of long-term investments. Determine the total book value of intangible assets. Determine the total book value of current liabilities. Determine the total book value of long-term liabilities. 7. Determine the total book value of equity. 5. 6. 70,000 CA 45,000 800,000 PP 10,000 312,000 L 245,000 L 50,000 120,000 220,000 PE $90,000 of the deferred revenue will be earned in 2023, the remaining amount will be earned in 2024. $75,000 of the bonds will mature in 2023 along with $4,500 of the discount associated with the bonds. The remaining amount of bonds and associated discount will mature in the years beyond 2023.

Problem 1: Balance Sheet Post-closing trial balances of accounts (12/31/22) E Common stock L Accounts payable Accumulated other comprehensive ACOI income (debit balance) Interest payable (due 2023) APIC Additional paid-in capital Marketable Securities (to be sold A 2024) CA Inventory Goodwill Taxes payable 100,000 Bonds payable 30,000 LIFO reserve 50,000 Accounts receivable 22,500 Cash and equivalents 1,000,000 Discount on bonds payable 95,000 Equipment 420,000 Allowance for sales returns 400,000 Investment in debt securities (matures 2025) 70,000 Asset retirement obligation (due 2025) 750,000 L 70,000 230,000 CA 70,000 CA 45,000 800,000 PP 10,000 312,000 L 245,000 50,000 CA Natural resource (gas reserves) E Retained earnings ADA Allowance for uncollectible accounts 1,000,000 Patent 811,500 Deferred revenue 23,000 Accumulated depreciation 120,000 220,000 PE $90,000 of the deferred revenue will be earned in 2023, the remaining amount will be earned in 2024. $75,000 of the bonds will mature in 2023 along with $4,500 of the discount associated with the bonds. The remaining amount of bonds and associated discount will mature in the years beyond 2023. 1. Determine the total book value of current assets. 2. Determine the total book value of property, plant and equipment. 3. Determine the total book value of long-term investments. 4. Determine the total book value of intangible assets. 5. Determine the total book value of current liabilities. 6. Determine the total book value of long-term liabilities. 7. Determine the total book value of equity.