Question

The information that follows relates to GAP latest Balance Sheet (dated December 31, 2017). The figures are presented in Thousands of U.S. Dollars unless noted otherwise. Using the information presented below, prepare and present a properly formatted Balance Sheet. Present the Balance Sheet in any format you wish (T-account or report format) so long as it is professional looking and complete.
Accounts Payable	$16,670
Accumulated Depreciation/Amortization on PPE	27,250
Additional Paid-in-Capital	46,400
Allowance for Doubtful accounts	350
Cash	110,325
Common Stock (1.5 million shares out @ $1/share par)	1,500
Copyrights	22,000
Current portion of Long-term Debt	8,900
Deferred Tax Liability	2,000
Goodwill	65,450
Gross Accounts Receivable	8,760
Gross Plant, Property and Equipment (PPE)	350,000
Inventory	10,212
Investments	7,178
Land	175,000
Long-term Debt	318,400
Marketable Securities	5,176
Mortgage Payable	96,900
Preferred Stock	17,000
Prepaid Expenses	1,002
Retained Earnings	246,195
Treasury Stock	27,902
Warranty Liability	$1,440

Answer 1

Balance Sheet
Dec 31, 2017
Assets
Current Assets
Cash		110,325.00
Accounts Receivable	8,760.00
Allowance for Doubtful Accounts	(350.00)	8,410.00
Inventory		10,212.00
Marketable Securities		5,176.00
Prepaid Expenses		1,002.00
Total Current Assets			135,125.00
Long Term Investments
Investements			7,178.00
Property, Plant & Equipment
Land		175,000.00
Gross Plant, Property & Equipment	350,000.00
Accumulated Dep./Amortization on PPE	(27,250.00)	322,750.00
Total Property, Plant & Equipment			497,750.00
Intangible Assets
Copyrights		22,000.00
Goodwill		65,450.00
Total Intangible Assets			87,450.00
Total Assets			727,503.00
Liabilities & Stockholders' Equity
Liabilities
Current Liabilities
Accounts Payable		16,670.00
Current Portion of Long Term Debt		8,900.00
Warranty Liability		1,440.00
Deffered Tax Liability		2,000.00
Total Current Liabilities			29,010.00
Long-Term Liabilities
Long-Term Debt		318,400.00
Mortgage Payable		96,900.00
Toatl Long-Term Liabilities			415,300.00
Total Liabilities			444,310.00
Total Shareholders' Equity
Paid-in Capital
Preferred Stock	17,000.00
Common Stock (1.50 million Shares @ $1 per Share)	1,500.00
Additional Paid-in Capital	46,400.00
Total Paid In Capital	64,900.00
Retained Earnings	246,195.00
Sub-total		311,095.00
Treasury Stock		(27,902.00)
Total Stockholders Equity			283,193.00
Total Liabilities & Stockholders' Equity			727,503.00