The adjusted trial balance of Concord Company and other related information for the year 2020 are presented as follows CONCORD COMPANY ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $ 43,710 Accounts Receivable 166,210 Allowance for Doubtful Accounts $ 8,960 Prepaid Insurance 6,160 Inventory 211,210 Equity Investments (long term) 341,710 Land 87,710 Construction in Progress (building) 126,710 Patents 36,000 Equipment 402,710 Accumulated Depreciation Equipment 240,260 Discount on Bonds Payable 20,000 Accounts Payable 150,710 Accrued Liabilities 51,910 Notes Payable 96,710 Bonds Payable 202,710 Common Stock 502,710 Paid in Capital in Excess of Par Common Stock 45,000 Retained Earnings 143,160 $1,442,130 $1,442,130 Additional information 1 The LIFO method of inventory value is used 2 The cost and fair value of the long term investments that consist of stocks (with ownership less than 20 of total shares) are the same 3 The amount of the Construction in Progress account represents the costs expended to date on a building in the process of construction (The company rents factory space at the present time ) The land on which the building is being constructed cost $87,710, as shown in the trial balance 4 The patents were purchased by the company at a cost of $40,000 and are being amortized on a straight line basis 5 Of the discount on bonds payable, $2,000 will be amortized in 2021 6 The notes payable represent bank loans that are secured by long term investments carried at $122,710 These bank loans are due in 2021 7 The bonds payable bear interest at 7 payable every December 31, and are due January 1, 2031 8 600,000 shares of common stock of a par value of $1 were authorized, of which 502,710 shares were issued and outstanding Prepare a balance sheet as of December 31, 2020, so that all important information is fully disclosed (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 )

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The adjusted trial balance of Concord Company and other related information for the year 2020 are presented as follows. CONCORD COMPANY ADJUSTED TRIAL BALANCE DECEMBER

The adjusted trial balance of Concord Company and other related information for the year 2020 are presented as follows.

CONCORD COMPANY ADJUSTED TRIAL BALANCE DECEMBER 31, 2020
	Debit	Credit
Cash	$ 43,710
Accounts Receivable	166,210
Allowance for Doubtful Accounts		$ 8,960
Prepaid Insurance	6,160
Inventory	211,210
Equity Investments (long-term)	341,710
Land	87,710
Construction in Progress (building)	126,710
Patents	36,000
Equipment	402,710
Accumulated Depreciation-Equipment		240,260
Discount on Bonds Payable	20,000
Accounts Payable		150,710
Accrued Liabilities		51,910
Notes Payable		96,710
Bonds Payable		202,710
Common Stock		502,710
Paid-in Capital in Excess of Par-Common Stock		45,000
Retained Earnings		143,160
	$1,442,130	$1,442,130

Additional information:

1.		The LIFO method of inventory value is used.
2.		The cost and fair value of the long-term investments that consist of stocks (with ownership less than 20% of total shares) are the same.
3.		The amount of the Construction in Progress account represents the costs expended to date on a building in the process of construction. (The company rents factory space at the present time.) The land on which the building is being constructed cost $87,710, as shown in the trial balance.
4.		The patents were purchased by the company at a cost of $40,000 and are being amortized on a straight-line basis.
5.		Of the discount on bonds payable, $2,000 will be amortized in 2021.
6.		The notes payable represent bank loans that are secured by long-term investments carried at $122,710. These bank loans are due in 2021.
7.		The bonds payable bear interest at 7% payable every December 31, and are due January 1, 2031.
8.		600,000 shares of common stock of a par value of $1 were authorized, of which 502,710 shares were issued and outstanding.

Prepare a balance sheet as of December 31, 2020, so that all important information is fully disclosed. (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.)