Lowell Companyâs December 31, 2014, trial balance includes thefollowing accounts: Inventory $120,710; Buildings $210,740;Accumulated Depreciation-Equipment $26,600; Equipment $199,640;Land (held for investment) $52,660; AccumulatedDepreciation-Buildings $53,200; Land $67,720; Timberland $75,530.Prepare the property, plant, and equipment section of the balanceshee
Lowell Companyâs December 31, 2014, trial balance includes thefollowing accounts: Inventory $120,710; Buildings $210,740;Accumulated Depreciation-Equipment $26,600; Equipment $199,640;Land (held for investment) $52,660; AccumulatedDepreciation-Buildings $53,200; Land $67,720; Timberland $75,530.Prepare the property, plant, and equipment section of the balanceshee
Related questions
| The adjusted trial balance for Rich Landscape at December 31, 2014, contains the following accounts. | |||||
| Debits | Credits | ||||
| Buildings | $128.000 | Common Stock | 80.000 | ||
| Interest expense | $2.600 | Retained Earnings | 28.000 | ||
| Accounts Receivable | 7.540 | Accumulated Depreciation-Buildings | 42.600 | ||
| Prepaid Insurance | 4.680 | Accounts Payable | 12.300 | ||
| Cash | 18.040 | Notes Payable | 95.000 | ||
| Equipment | 62.400 | Accumulated Depreciation-Equipment | 18.720 | ||
| Land | 67.000 | Interest Payable | 2.600 | ||
| Insurance Expense | 780 | Service Revenue | 19.180 | ||
| Depreciation Expense | 7.360 | ||||
| $298.400 | Toals | $298.400 | |||
| Prepare the classified balance sheet |
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.)
