Presented below is the trial balance of Scott Butler Corporationat December 31, 2014.
Debit
Credit
Cash
$ 200,010
Sales
$ 8,101,320
Debt Investments (trading) (cost, $145,000)
154,320
Cost of Goods Sold
4,801,320
Debt Investments (long-term)
302,010
Equity Investments (long-term)
280,010
Notes Payable (short-term)
91,320
Accounts Payable
456,320
Selling Expenses
2,001,320
Investment Revenue
64,480
Land
260,000
Buildings
1,043,010
Dividends Payable
139,010
Accrued Liabilities
97,320
Accounts Receivable
436,320
Accumulated Depreciation-Buildings
152,000
Allowance for Doubtful Accounts
26,320
Administrative Expenses
901,480
Interest Expense
212,480
Inventory
600,010
Gain (extraordinary)
81,480
Notes Payable (long-term)
903,010
Equipment
601,320
Bonds Payable
1,003,010
Accumulated Depreciation-Equipment
60,000
Franchises
160,000
Common Stock ($5 par)
1,001,320
Treasury Stock
192,320
Patents
195,000
Retained Earnings
81,010
Paid-in Capital in Excess of Par
83,010
Totals $12,340,930
$12,340,930
Prepare a balance sheet at December 31, 2014, for Scott ButlerCorporation. (Ignore income taxes). (List CurrentAssets in order of liquidity. List Property, Plant and Equipment inorder of Land, Building and Equipment. Enter account name only anddo not provide the descriptive information provided in thequestion.)
Presented below is the trial balance of Scott Butler Corporationat December 31, 2014.
Debit | Credit | |||
Cash | $ 200,010 | |||
Sales | $ 8,101,320 | |||
Debt Investments (trading) (cost, $145,000) | 154,320 | |||
Cost of Goods Sold | 4,801,320 | |||
Debt Investments (long-term) | 302,010 | |||
Equity Investments (long-term) | 280,010 | |||
Notes Payable (short-term) | 91,320 | |||
Accounts Payable | 456,320 | |||
Selling Expenses | 2,001,320 | |||
Investment Revenue | 64,480 | |||
Land | 260,000 | |||
Buildings | 1,043,010 | |||
Dividends Payable | 139,010 | |||
Accrued Liabilities | 97,320 | |||
Accounts Receivable | 436,320 | |||
Accumulated Depreciation-Buildings | 152,000 | |||
Allowance for Doubtful Accounts | 26,320 | |||
Administrative Expenses | 901,480 | |||
Interest Expense | 212,480 | |||
Inventory | 600,010 | |||
Gain (extraordinary) | 81,480 | |||
Notes Payable (long-term) | 903,010 | |||
Equipment | 601,320 | |||
Bonds Payable | 1,003,010 | |||
Accumulated Depreciation-Equipment | 60,000 | |||
Franchises | 160,000 | |||
Common Stock ($5 par) | 1,001,320 | |||
Treasury Stock | 192,320 | |||
Patents | 195,000 | |||
Retained Earnings | 81,010 | |||
Paid-in Capital in Excess of Par | 83,010 | |||
Totals | $12,340,930 | $12,340,930 |
Prepare a balance sheet at December 31, 2014, for Scott ButlerCorporation. (Ignore income taxes). (List CurrentAssets in order of liquidity. List Property, Plant and Equipment inorder of Land, Building and Equipment. Enter account name only anddo not provide the descriptive information provided in thequestion.)