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The following data, presented in alphabetical order, are taken from the records of Nieto Corporation. Accounts...

The following data, presented in alphabetical order, are taken from the records of Nieto Corporation.

Accounts payable $240,000
Accounts receivable 140,100
Accumulated depreciation—buildings 180,400
Accumulated depreciation—equipment 52,000
Allowance for doubtful accounts 5,200
Bonds payable (10%, due 2025) 500,300
Buildings 949,000
Cash 42,200
Common stock ($10 par value; 499,000 shares authorized, 149,100 shares issued) 1,491,000
Dividends payable 79,200
Equipment 275,200
Fair value adjustment—available-for-sale securities (Dr) 7,700
Goodwill 200,000
Income taxes payable 120,300
Inventory 169,900
Investment in Mara common stock (30% ownership), at equity 380,100
Investment in Sasse common stock (10% ownership), at cost 278,700
Land 389,900
Notes payable (due 2018) 70,000
Paid-in capital in excess of par—common stock 139,400
Premium on bonds payable 40,800
Prepaid insurance 16,000
Retained earnings 103,100
Short-term investment, at fair value (and cost) 180,600
Unrealized gain—available-for-sale securities 7,700


The investment in Sasse common stock is considered to be a long-term available-for-sale security.

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ekkarill92 answered 2 years ago
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