Question:

Question 2 The following items were taken from the records of a company as of 31 December, 20xx: Accounts payable Accounts receivable Building Cash Equipment Retained earnings 47,000 22,000 169,000 15,000 30,000 ? Long-term notes receivable Patent Accrued expenses Short-term notes payable Share capital Bonds payable 35,000 6,000 17,000 135,000 1,000 75,000 Dividends paid 30,000 Goodwill 28,000 Sales Depreciation expense Cost of goods sold Long-term investments Inventory Interest payable 123,000 18,000 75,000 100,000 79,000 1,000 Short-term investments Long-term debt 56,000 150,000 2.1 Prepare a balance sheet. Use the amounts given to complete the balance sheet below (ignore depreciation as a balance sheet entry): Blue Bird Publishing Balance sheet 31 December 20XX Assets: Current assets: Cash Accounts receivable Inventory Short-term investments Liabilities: Current liabilities: Accounts payable Accrued expenses Interest payable Short-term notes payable Total current assets Total current liabilities Non-current assets: Long-term investments Long-term notes receivable Non-current liabilities Bonds payable Long-term debt Total non-current liabilities Total liabilities Property, plant, and equipment: Building Equipment Net property, plant, and equipment Shareholder's equity Share capital Retained earnings Intangible assets: Goodwill Patents Total intangible assets Total shareholder's equity Total non-current assets Total assets Total liabilities and shareholder's equity