Question

My balance sheet does not balance please correct the missing information from trial balance and correct the balance sheet below.

	2016
	Dr	Cr
Accounts Payable		1,079,837
Accounts Receivable	3,245,967
Accrued Liabilities - Other		721,358
Accrued Pension Liabilities		450,356
Accrued Restructuring Charges		90,476
Accrued Salaries, Wages and Commissions		350,191
Accumulated Other Comprehensive Income (Loss)		85,000
Accumulated Depreciation - Property, Plant & Equipment		1,999,999
Accumulated Post-Employment Benefit Obligation (long-term)		402,634
Additional Paid-in Capital, Common Stock		299,304
Additional Paid-in Capital, Preferred Stock		75
Allowance for Doubtful Accounts		124,645
Bonds Payable		249,046
Cash and Cash Equivalents	751,329
Common Stock ($1.00 par value) authorized 900 million shares issued 300 million shares in 2016, 284 million in 2015		284,000
Cost of Goods Sold	2,763,584
Current Portion of Long-term Debt		849,869
Deferred Tax Assets (current)	81,236
Deferred Tax Liabilities (long-term)		440,263
Depreciation Expense	311,236
Dividends - Common	214,956
Dividends - Preferred	945
General & Administrative Expenses	1,459,695
Goodwill and Other Intangibles	3,212,491
Income Taxes Payable		102,563
Interest Expense	250,000
Interest Income		18,227
Investments in unconsolidated affiliated companies	1,456,896
Inventories	224,561
Long-term Debt		3,702,700
(Loss) Income from Discontinued Operations, net of tax		7,453
Preferred Stock ($10 par value) authorized 10 million shares issued 90,000 shares in 2016, 90,000 in 2015		900
Prepaid Expenses	170,296
Property, Plant and Equipment	3,936,726
Provision for income taxes	201,636
Research and Development Expenses	496,597
Restructuring Charges	255,013
Retained Earnings, beginning		5,173,286
Sales		6,526,967
Selling Expenses	58,890
Short-term Investments	26,800
Treasury Stock, at cost - 117,156,719 shares in 2016 and 108,822,953 shares in 2015	4,263,984
Unearned Revenues		423,689
	23,382,838	23,382,838

Brady and Co.
Balance Sheet
As of December 31, 2016
Assets
Current Assets
Cash and Cash Equivalents		751,329
Short-term Investments		26,800
Accounts Receivable	3,245,967
Less Allowance for Doubtful Accounts	124,645
Net Account Receivable		3,121,322
Inventories		224,561
Prepaid Expenses		170,296
Deferred Tax Assets (current)		81,236
Total Current Assets		4,375,544
Long-Term Assets
Property, Plant and Equipment	3,936,726
Accumulated Depreciation - Property, Plant & Equipment	1,999,999
Net PPE		1,936,727
Investments in unconsolidated affiliated companies		1,456,896
Goodwill and Other Intangibles		3,212,491
Total Assets		10,981,658
Liabilities
Current Liabilities
Accounts Payable			1,079,837
Income Tax Payable			102,563
Accrued Salaries, Wages and Commissions			350,191
Accrued Liabilities - Other			721,358
Accrued Restructuring Charges			90,476
Current Portion of Long-term Debt			849,869
Unearned Revenues			423,689
Total Current Liabilities			3,617,983
Long-Term Liabilities
Long-term Debt			3,702,700
Deferred Tax Liabilities (long-term)			440,263
Bonds Payable			249,046
Accrued Pension Liabilities			450,356
Total Long-TermLiabilities			4,842,365
Total Liabilities			8,460,348
Equity
Accumulated Other Comprehensive Income (Loss)		(85,000)
Accumulated Post-Employment Benefit Obligation (long-term)			402,634
Retained Earnings			6,143,293
Common Stock ($1.00 par value) authorized 900 million shares issued 300 million shares in 2016, 284 million in 2015			284,000
Preferred Stock ($10 par value) authorized 10 million shares issued 90,000 shares in 2016, 90,000 in 2015			900
Additional Paid-in Capital, Common Stock			299,304
Additional Paid-in Capital, Preferred Stock			75
Treasury Stock, at cost - 117,156,719 shares in 2016 and 108,822,953 shares in 2015		(4,263,984)
Total Equity			2,781,222
Total Liabilities and Equity			11,241,570

Answer 1

BRADY AND COMPANY
Balance sheet
as of December 31, 2016
Assets
Current Assets:
Cash and cash equivalents		751329
Accounts receivable	3245967
Allowance for doubtful accounts	124645	3121322
Deferred Tax assets		81236
Inventories		224561
Prepaid expenses		170296
short term investments		26800
Total Current Assets		4375544
Investments in unconsolidated affiliated companies		1456896
Prpperty,plant and equipment	3936726
Acumulated depreciation - PPE	1999999	1936727
Goodwil and other intangibles		3212491
Total Long-term Assets		5149218
Total Assets		10981658
Liabilities and stockholders' equity
Current Liabilities:
Accounts Payable		1079837
Accrued liabilities - others		721358
Accrued pension liabilities		450356
Accrued restructuring charges		90476
Accrued salaries,wages and commission		350191
Current portion of long term liabilities		849869
Income taxes payable		102563
Unearned revenues		423689
Total Current Liabilties		4068339
Accumulaued post employment benefit obligation		402634
Bonds payable		249046
Long-term debt		3702700
Deferred tax liability (long term)		440263
Total long-term liabilities		4794643
Total liabilities		8862982
Stockholders' equity
Common stock		284000
Preferred stock		900
Additional paid-in-capital - common sock		299304
Additional paid-in-capital -preferred sock		75
Total Paid-up capital		584279
Retained earnings *		5713381
Accumulaued other comprehensive income (loss)		85000
Treasury stock		-4263984
Total stockholders' equity		2118676
Total liabilities and stockholders' equity		10981658
Retained earnings, January 1	5173286
Net income for the year	755996
Dividends - common	214956
Dividends - preferred	945
Retained earnings, December 31 *	5713381

Income statement
Sales	6526967
Cost of goods sold	2763584
Gross profit	3763383
Operating expenses:
Selling expenses	58890
Depreciation expense	311236
General and administration expenses	1459695
Rsearch and development expenses	496597
Restructuring charges	255013
Total operating Expenses	2581431
Net operating income	1181952
Othet Items
Interest Expense	-250000
Interest income	18227
Total other items	-231773
Net income before taxes	950179
Provision for income taxes	201636
Net income from continuing operations	748543
(loss) income from discountinued operations	7453
Net income	755996