The following data, presented in alphabetical order, are taken from the records of

Radar Corporation.

Accounts payable………………. $ 240,000

Accounts receivable……………… 140,000

Accumulated depreciation—buildings…………..180,000

Accumulated depreciation—equipment………..52,000

Allowance for doubtful accounts……………..6,000

Bonds payable (10%, due 2020)…………..500,000

Buildings…………………..950,000

Cash……………………..42,000

Common stock ($10 par value; 500,000 shares authorized,

150,000 shares issued)……………..1,500,000

Dividends payable……………….80,000

Equipment……………………275,000

Goodwill…………………..200,000

Income taxes payable………………120,000

Inventory…………………..170,000

Investment in Sasse common stock (10% ownership), at cost….278,000

Investment in Mara common stock (30% ownership), at equity.380,000

Land……………………390,000

Market adjustment—available-for-sale securities (Dr)……8,000

Notes payable (due 2013)……………..70,000

Paid-in capital in excess of par—common stock…….130,000

Premium on bonds payable………………40,000

Prepaid insurance…………………16,000

Retained earnings……………….103,000

Short-term investments, at fair value (and cost)……..180,000

Unrealized gain—available-for-sale securities………..8,000

The investment in Sasse common stock is considered to be a long-term available-for-sale security.

Instructions

Prepare a classified balance sheet at December 31, 2012.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *