Question

In: Accounting

Presented below is the trial balance of Windsor Corporation at December 31, 2017. Debit Credit Cash...

Presented below is the trial balance of Windsor Corporation at December 31, 2017.

Debit

Credit

Cash

$   198,500

Sales

$ 8,104,040

Debt Investments (trading) (cost, $145,000)

157,040

Cost of Goods Sold

4,800,000

Debt Investments (long-term)

300,500

Equity Investments (long-term)

278,500

Notes Payable (short-term)

94,040

Accounts Payable

459,040

Selling Expenses

2,004,040

Investment Revenue

66,950

Land

264,040

Buildings

1,041,500

Dividends Payable

137,500

Accrued Liabilities

100,040

Accounts Receivable

439,040

Accumulated Depreciation-Buildings

152,000

Allowance for Doubtful Accounts

29,040

Administrative Expenses

903,950

Interest Expense

214,950

Inventory

598,500

Gain (extraordinary)

83,950

Notes Payable (long-term)

901,500

Equipment

604,040

Bonds Payable

1,001,500

Accumulated Depreciation-Equipment

60,000

Franchises

160,000

Common Stock ($5 par)

1,004,040

Treasury Stock

195,040

Patents

195,000

Retained Earnings

79,500

Paid-in Capital in Excess of Par

81,500
        Totals

$12,354,640

$12,354,640

Prepare a balance sheet at December 31, 2017, for Windsor Corporation. (Ignore income taxes). (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)

Solutions

Expert Solution

Total assets = Total current assets + Total Fixed Assets + Total other Assets

Total Liabilities and stockholders equity = Total Liabilities + Total Stockholders Equity

Note: Income statement and Statement of retained Earnings are prepared to Find Ending retained Earnings it is as follows

ekkarill92 answered 6 months ago
Next > < Previous

Related Solutions

Presented below is the adjusted trial balance of Windsor, Inc. at December 31, 2017. Debit Credit...
Presented below is the adjusted trial balance of Windsor, Inc. at December 31, 2017. Debit Credit Cash $          ? Supplies 1,410 Accounts Receivable 3,520 Prepaid Insurance 2,380 Equipment 80,220 Accumulated Depreciation—Equipment $20,600 Trademarks 3,760 Accounts Payable 2,820 Salaries and Wages Payable 1,360 Unearned Service Revenue 1,260 Bonds Payable (due 2024) 32,540 Common Stock 2,080 Additional paid-in capital 15,780 Retained Earnings 14,940 Service Revenue 30,180 Salaries and Wages Expense 14,800 Insurance Expense 2,400 Rent Expense 3,180 Interest Expense 2,300     Total $          ? $          ?...
Presented below is the trial balance of Nash Corporation at December 31, 2017. Debit Credit Cash...
Presented below is the trial balance of Nash Corporation at December 31, 2017. Debit Credit Cash $   201,180 Sales $ 8,104,150 Debt Investments (trading) (cost, $145,000) 157,150 Cost of Goods Sold 4,800,000 Debt Investments (long-term) 303,180 Equity Investments (long-term) 281,180 Notes Payable (short-term) 94,150 Accounts Payable 459,150 Selling Expenses 2,004,150 Investment Revenue 67,230 Land 264,150 Buildings 1,044,180 Dividends Payable 140,180 Accrued Liabilities 100,150 Accounts Receivable 439,150 Accumulated Depreciation-Buildings 152,000 Allowance for Doubtful Accounts 29,150 Administrative Expenses 904,230 Interest Expense 215,230 Inventory...
Presented below is the trial balance of Marigold Corporation at December 31, 2017. Debit Credit Cash...
Presented below is the trial balance of Marigold Corporation at December 31, 2017. Debit Credit Cash $   200,620 Sales $ 8,104,760 Debt Investments (trading) (cost, $145,000) 157,760 Cost of Goods Sold 4,800,000 Debt Investments (long-term) 302,620 Equity Investments (long-term) 280,620 Notes Payable (short-term) 94,760 Accounts Payable 459,760 Selling Expenses 2,004,760 Investment Revenue 66,470 Land 264,760 Buildings 1,043,620 Dividends Payable 139,620 Accrued Liabilities 100,760 Accounts Receivable 439,760 Accumulated Depreciation-Buildings 152,000 Allowance for Doubtful Accounts 29,760 Administrative Expenses 903,470 Interest Expense 214,470 Inventory...
Presented below is the trial balance of Splish Corporation at December 31, 2017. Debit Credit Cash...
Presented below is the trial balance of Splish Corporation at December 31, 2017. Debit Credit Cash $   200,230 Sales $ 8,104,580 Debt Investments (trading) (cost, $145,000) 157,580 Cost of Goods Sold 4,800,000 Debt Investments (long-term) 302,230 Equity Investments (long-term) 280,230 Notes Payable (short-term) 94,580 Accounts Payable 459,580 Selling Expenses 2,004,580 Investment Revenue 67,550 Land 264,580 Buildings 1,043,230 Dividends Payable 139,230 Accrued Liabilities 100,580 Accounts Receivable 439,580 Accumulated Depreciation-Buildings 152,000 Allowance for Doubtful Accounts 29,580 Administrative Expenses 904,550 Interest Expense 215,550 Inventory...
Presented below is the trial balance of Nash Corporation at December 31, 2017. Debit Credit Cash...
Presented below is the trial balance of Nash Corporation at December 31, 2017. Debit Credit Cash $   199,120 Sales $ 8,101,010 Debt Investments (trading) (cost, $145,000) 154,010 Cost of Goods Sold 4,800,000 Debt Investments (long-term) 301,120 Equity Investments (long-term) 279,120 Notes Payable (short-term) 91,010 Accounts Payable 456,010 Selling Expenses 2,001,010 Investment Revenue 67,610 Land 261,010 Buildings 1,042,120 Dividends Payable 138,120 Accrued Liabilities 97,010 Accounts Receivable 436,010 Accumulated Depreciation-Buildings 152,000 Allowance for Doubtful Accounts 26,010 Administrative Expenses 904,610 Interest Expense 215,610 Inventory...
Presented below is the trial balance of Gilead Pharmaceuticals at December 31, 2017. Debit Credit Cash...
Presented below is the trial balance of Gilead Pharmaceuticals at December 31, 2017. Debit Credit Cash 295,000 Sales Revenue $12,150 Debt Investments (trading) (at cost, $218,000) 230,000 Cost of Goods Sold 7,200 Debt Investments (long-term) 448,000 Equity Investments (long-term) 416,000 Notes Payable (short-term) 135,000 Accounts Payable 682,000 Selling Expenses 3,000,000 Investment Revenue 95,000 Land 390,000 Buildings 1,560,000 Dividends Payable 204,000 Accrued Liabilities 144,000 Accounts Receivable 652,000 Accumulated Depreciation–Buildings 228,000 Allowance for Doubtful Accounts 38,000 Administrative Expenses 1,350,000 Interest Expense 317,000...
Presented below is the adjusted trial balance of Pharoah Corporation at December 31, 2017. Debit Credit...
Presented below is the adjusted trial balance of Pharoah Corporation at December 31, 2017. Debit Credit Cash $          ? Supplies 1,490 Prepaid Insurance 1,290 Equipment 48,290 Accumulated Depreciation-Equipment $  4,290 Trademarks 1,240 Accounts Payable 10,290 Salaries and Wages Payable 790 Unearned Service Revenue 2,290 Bonds Payable (due 2024) 9,290 Common Stock 10,290 Retained Earnings 25,290 Service Revenue 10,290 Salaries and Wages Expense 9,290 Insurance Expense 1,690 Rent Expense 1,490 Interest Expense 1,190     Total $          ? $          ? Additional information: 1. Net loss for the...
Presented below is the adjusted trial balance of Sunland Corporation at December 31, 2017. Debit Credit...
Presented below is the adjusted trial balance of Sunland Corporation at December 31, 2017. Debit Credit Cash $ ? Supplies 1,560 Prepaid Insurance 1,360 Equipment 48,360 Accumulated Depreciation-Equipment $ 4,360 Trademarks 1,310 Accounts Payable 10,360 Salaries and Wages Payable 860 Unearned Service Revenue 2,360 Bonds Payable (due 2024) 9,360 Common Stock 10,360 Retained Earnings 25,360 Service Revenue 10,360 Salaries and Wages Expense 9,360 Insurance Expense 1,760 Rent Expense 1,560 Interest Expense 1,260 Total $ ? $ ? Additional information: 1....
Presented below is the adjusted trial balance of Martinez Corporation at December 31, 2017. Debit Credit...
Presented below is the adjusted trial balance of Martinez Corporation at December 31, 2017. Debit Credit Cash $          ? Supplies 1,350 Prepaid Insurance 1,150 Equipment 48,150 Accumulated Depreciation-Equipment $  4,150 Trademarks 1,100 Accounts Payable 10,150 Salaries and Wages Payable 650 Unearned Service Revenue 2,150 Bonds Payable (due 2024) 9,150 Common Stock 10,150 Retained Earnings 25,150 Service Revenue 10,150 Salaries and Wages Expense 9,150 Insurance Expense 1,550 Rent Expense 1,350 Interest Expense 1,050     Total $          ? $          ? Additional information: 1. Net loss for the...
Presented below is the adjusted trial balance of Pina Corporation at December 31, 2017. Debit Credit...
Presented below is the adjusted trial balance of Pina Corporation at December 31, 2017. Debit Credit Cash $          ? Supplies 1,310 Prepaid Insurance 1,110 Equipment 48,110 Accumulated Depreciation-Equipment $  4,110 Trademarks 1,060 Accounts Payable 10,110 Salaries and Wages Payable 610 Unearned Service Revenue 2,110 Bonds Payable (due 2024) 9,110 Common Stock 10,110 Retained Earnings 25,110 Service Revenue 10,110 Salaries and Wages Expense 9,110 Insurance Expense 1,510 Rent Expense 1,310 Interest Expense 1,010     Total $          ? $          ? Additional information: 1. Net loss for the...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT