Question
Problem 1 Given the following account information for Krueger Corporation, prepare a balance sheet in report form for the company as of December 31, 2015.
Problem 1
Given the following account information for Krueger Corporation, prepare a balance sheet in report form for the company as of December 31, 2015. All accounts have their normal account balances.
Equipment 50,000
Interest Expense 2,400
Interest Payable 600
Retained Earnings ?
Dividends 50,400
Land 137,320
Inventory 102,000
Bonds Payable 78,000
Notes Payable (due in 6 months) 19,400
Common Stock 60,000
Accumulated Depreciation - Equip. 10,000
Prepaid Advertising 5,000
Revenue 331,400
Buildings 80,400
Supplies 1,860
Taxes Payable 3,000
Utilities Expense 1,320
Advertising Expense 1,560
Salary Expense 53,040
Salaries Payable 900
Accumulated Depr. - Bld. 15,000
Cash 35,000
Depreciation Expense,
Building & Equipment 8,000
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