Question
The following is a December 31, 2017 post-closing trial balance for the Happy Valley Corporation. Account Name Debit Credit Cash 23557 Accounts Receivable 56715 Inventory
The following is a December 31, 2017 post-closing trial balance for the Happy Valley Corporation.
Account Name | Debit | Credit |
Cash | 23557 | |
Accounts Receivable | 56715 | |
Inventory | 83420 | |
Interest Payable | 8332 | |
Marketable Securities | 43535 | |
Land | 121208 | |
Buildings | 301347 | |
Accumulated Depreciation -- Building | 101550 | |
Equipment | 75110 | |
Accumulated Depreciation -- Equipment | 23167 | |
Copyright (net of Amortization) | 13479 | |
Prepaid Expenses | 34605 | |
Accounts Payable | 67774 | |
Unearned Revenues | 20841 | |
Notes Payable | 248989 | |
Allowance for Uncollectible Accounts | 6638 | |
Common Stock | ? | |
Retained Earnings | 68724 |
Additional Information:
1. The $121208 balance in the land account consists of $99615 for the cost of land where the plant and office buildings are located. The remaining amount represents the cost of land being held for speculation.
2. The $43535 in the marketable securities account represents an investment in the common stock of another corporation. Valley intends to sell one-half of the stock within the next year.
3. The notes payable account consists of a note due in six months and a $151999 note due in three equal annual installments, with the first payment due in August of 2018.
Calculate the following balance sheet total for the Happy Valley Corporation at December 31, 2017. Answer in dollars and cents ($ 0.00 ).
Current Liabilities:
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