Question

In: Accounting

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

Expert Solution

ekkarill92 answered 2 years ago

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