Question

Presented below are a number of balance sheet items for Metlock, Inc., for the current year, 2017.

Goodwill		$  129,170		Accumulated Depreciation-Equipment		$  292,100
Payroll Taxes Payable		181,761		Inventory		243,970
Bonds payable		304,170		Rent payable (short-term)		49,170
Discount on bonds payable		15,100		Income taxes payable		102,532
Cash		364,170		Rent payable (long-term)		484,170
Land		484,170		Common stock, $1 par value		204,170
Notes receivable		449,870		Preferred stock, $10 par value		154,170
Notes payable (to banks)		269,170		Prepaid expenses		92,090
Accounts payable		494,170		Equipment		1,474,170
Retained earnings		?		Debt investments (trading)		125,170
Income taxes receivable		101,800		Accumulated Depreciation-Buildings		270,300
Notes payable (long-term)		1,604,170		Buildings		1,644,170

Prepare a classified balance sheet in good form. Common stock authorized was  400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of debt investments (trading) are the same. (List Current Assets in the order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment.)

METLOCK, INC. Balance Sheet choose the accounting periodchoose the accounting period  December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017
Assets
select an opening name for subsection oneselect an opening name for subsection one  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item			$ enter a dollar amount
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
select a closing name for subsection oneselect a closing name for subsection one  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$ enter a total amount for subsection one
select an opening name for subsection twoselect an opening name for subsection two  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item			enter a dollar amount
enter a balance sheet item	$ enter a dollar amount
select between addition and deductionselect between addition and deduction  AddLess:  enter a balance sheet item	enter a dollar amount		enter a subtotal of the two previous amounts
enter a balance sheet item	enter a dollar amount
select between addition and deductionselect between addition and deduction  AddLess:  enter a balance sheet item	enter a dollar amount		enter a subtotal of the two previous amounts		enter a total amount for subsection two
select an opening name for subsection threeselect an opening name for subsection three  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item					enter a dollar amount
select a closing section name for this part of the balance sheetselect a closing section name for this part of the balance sheet  Capital StockCurrent AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity					$ enter a total amount for this part of the balance sheet
Liabilities and Stockholders' Equity
select an opening name for subsection oneselect an opening name for subsection one  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item			$ enter a dollar amount
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
select a closing name for subsection oneselect a closing name for subsection one  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$ enter a total amount for subsection one of the second part of the balance sheet
select an opening name for subsection twoselect an opening name for subsection two  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item			enter a dollar amount
enter a balance sheet item	$ enter a dollar amount
select between addition and deductionselect between addition and deduction  AddLess:  enter a balance sheet item	enter a dollar amount		enter a subtotal of the two previous amounts
enter a balance sheet item			enter a dollar amount		enter a total amount for subsection two of the second part of the balance sheet
select a closing name for section oneselect a closing name for section one  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					enter a total amount for this section of the balance sheet
select an opening name for section twoselect an opening name for section two  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
select an opening name for subsection oneselect an opening name for subsection one  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item	enter a dollar amount
enter a balance sheet item	enter a dollar amount
			enter a total amount for subsection one of the second part of the balance sheet
enter a balance sheet item			enter a dollar amount
select a closing name for section twoselect a closing name for section two  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					enter a total amount for this section of the balance sheet
select a closing name for this part of the balance sheetselect a closing name for this part of the balance sheet  Capital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesRevenuesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$ enter a total amount for this part of the balance sheet

List of Accounts

Answer 1

METLOCK, INC.
Balance Sheet
December 31, 2017
assets
current assets
Cash	364,170
Debt investments (trading)	125,170
Notes receivable	449,870
Inventory	243,970
Prepaid expenses	92,090
Income taxes receivable	101,800
total current assets		1,377,070
Property, Plant and Equipment
Land		484,170
Buildings	1,644,170
Accumulated Depreciation-Buildings	(270,300)	1,373,870
Equipment	1,474,170
Accumulated Depreciation-Equipment	(292,100)	1,182,070
Intangible assets
Goodwill		129,170
total assets		4,546,350
liability and stockholder's equity
current liability
Accounts payable	494,170
Notes payable (to banks)	269,170
Rent payable (short-term)	49,170
Payroll Taxes Payable	181,761
Income taxes payable	102,532
total current liability		1,096,803
non-current liability
Bonds payable	304,170
Discount on bonds payable	(15,100)
Notes payable (long-term)	1,604,170
Rent payable (long-term)	484,170
total non-current liability		2,377,410
total liability		3,474,213
stockholder's equity
Common stock, $1 par value	204,170
Preferred stock, $10 par value	154,170
Retained earnings	713,797
total stockholder's equity		1,072,137
total liability and stockholder's equity		4,546,350

As per accounting equation , total assets = total liabilities + total stockholder's equity
total assets = total liabilities + total stockholder's equity
4546350 = 3474213 + total stockholder's equity
1072137 = total stockholder's equity
total stockholder's equity	1072137
Less:
Common stock, $1 par value	-204170
Preferred stock, $10 par value	-154170
Retained earnings	713797