Lowell Companyâs December 31, 2014, trial balance includes thefollowing accounts: Inventory $120,590; Buildings $215,200;Accumulated Depreciation-Equipment $28,900; Equipment $194,490;Land (held for investment) $49,310; AccumulatedDepreciation-Buildings $48,700; Land $68,220; Timberland$74,420.
Prepare the property, plant, and equipment section of the balancesheet. (List Property, Plant and Equipment in order ofLand, Buildings and Equipment. (Enter account name only and do notprovide the descriptive information provided in thequestion.)
Lowell Companyâs December 31, 2014, trial balance includes thefollowing accounts: Inventory $120,590; Buildings $215,200;Accumulated Depreciation-Equipment $28,900; Equipment $194,490;Land (held for investment) $49,310; AccumulatedDepreciation-Buildings $48,700; Land $68,220; Timberland$74,420.
Prepare the property, plant, and equipment section of the balancesheet. (List Property, Plant and Equipment in order ofLand, Buildings and Equipment. (Enter account name only and do notprovide the descriptive information provided in thequestion.)
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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.)
