Question

  

For the information provided below, prepare a balance sheet statement.

The value of the land is $100,000 and the value of the building is $1,010,000.

The current portion of the bonds payable is $80,000.

The current portion of the notes payable is $50,000.

The current portion of mortgage payable is $35,000.

The marketable securities are being held to be sold if and when cash might be needed.

The name of the company is UAN.

The amounts shown are the ending amounts from the period from January 1, 2017 to December 31, 2017.

The ending retained earnings amount is as of December 31, 2017 after all annual adjustments.

Accounts Payable	$200,000
Accounts Receivable	$350,000
Accrued Expenses	$131,000
Accumulated Depreciation	$645,000
Bond Interest Payable	$5,000
Bonds Payable	$800,000
Cash	$400,000
Common Stock	$937,000
Ending retained earnings	$785,000
Goodwill	$500,000
Interest due on mortgage	$4,000
Interest due on notes payable	$11,000
Inventory	$450,000
Investment in Land for future use	$550,000
Land and Buildings	$1,110,000
Marketable Securities	$150,000
Mortgage Payable	$350,000
Notes Payable	$167,000
Paid in Excess of Par	$1,115,000
Patents	$250,000
Plant and equipment	$1,300,000
Prepaid expenses	$90,000

Answer 1

Balance Sheet
Assets
current assets
Cash	$400,000
Marketable Securities	$150,000
Accounts Receivable	$350,000
Inventory	$450,000
Prepaid expenses	$90,000
total current assets		$1,440,000
Plant and equipment net of accumulated depreciation		$655,000
Investment in Land for future use		$650,000
Land and Buildings		$1,010,000
Goodwill		$500,000
Patents		$250,000
total of assets		$4,505,000
Liabilities & shareholders equity
Liabilities
current liabilities
Accounts Payable	$200,000
Accrued Expenses	$131,000
Interest due on mortgage	$4,000
Interest due on notes payable	$11,000
Bond Interest Payable	$5,000
Mortgage Payable	$35,000
Notes Payable	$50,000
bonds payable	$80,000
total of current liabilities		$516,000
Mortgage Payable	$35,000	315000
Notes Payable	$50,000	117000
bonds payable	$80,000	720000
total of liabilities		$1,668,000
shareholders equity
common stock	$937,000
Paid in Excess of Par	$1,115,000
retained earning	$785,000
shareholders equity		$2,837,000
total of liabilities and shareholders equity		$4,505,000