Question
The following is an alphabetical list of account balances at December 31, 2021 for The Best Corporation. The company did not declare any dividends in
The following is an alphabetical list of account balances at December 31, 2021 for The Best Corporation. The company did not declare any dividends in 2021.
Building
850,000
FVTOCI investments
120,000
Capital Stock
702,000
Cash
50,000
Cost of goods sold
650,000
Inventories
96,000
Depreciation expense
49,000
Dividends payable
8,000
Supplies
16,000
Income tax expense
80,000
Insurance expense
9,000
Interest expense
35,000
Accumulated depreciation - equipment
120,000
Unearned revenues
63,000
Interest income
17,000
Interest payable
16,000
Interest receivable
9,000
Accounts payable
140,000
Accounts Receivable
89,000
Accumulated depreciation - building
230,000
Land
650,000
Long-term bank loan
590,000
Patents
125,000
Equipment
560,000
FVTPL investments
129,000
Prepaid expenses
16,000
Rent expense
23,000
Bonds payable, due December 31, 2028
260,000
Retained Earnings (beginning of year balance)
310,000
Salaries expense
130,000
Sales
1,230,000
Required-
Prepare Statement of Financial Position for 2021.
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Advanced Accounting
Authors: Debra C Jeter, Paul K Chaney
5th Edition
1118022297, 978-1118022290
