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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 Inventory 895,000 Gain 120,000 Notes Payable (long-term) 1,350,000 Equipment 900,000 Bonds Payable 1,500,000 Accumulated Depreciation–Equipment 90,000 Franchises 240,000 Common Stock ($5 par) 1,500,000 Treasury Stock 287,000 Patents 293,000 Retained Earnings 117,000 Paid-in Capital in Excess of Par 120,000 Totals $18,473,000 $18,473,000 Instructions Prepare a classified balance sheet in good format

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ekkarill92 answered 2 years ago
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