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(Solved by Expert Tutors) Presented below is the trial balance of Scott Butler Corporation at Dece


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Debit Credit
Cash $???198,660
Sales $?8,102,930
Debt Investments (trading) (cost, $145,000) 155,930
Cost of Goods Sold 4,802,930
Debt Investments (long-term) 300,660
Equity Investments (long-term) 278,660
Notes Payable (short-term) 92,930
Accounts Payable 457,930
Selling Expenses 2,002,930
Investment Revenue 64,470
Land 260,000
Buildings 1,041,660
Dividends Payable 137,660
Accrued Liabilities 98,930
Accounts Receivable 437,930
Accumulated Depreciation-Buildings 152,000
Allowance for Doubtful Accounts 27,930
Administrative Expenses 901,470
Interest Expense 212,470
Inventory 598,660
Gain (extraordinary) 81,470
Notes Payable (long-term) 901,660
Equipment 602,930
Bonds Payable 1,001,660
Accumulated Depreciation-Equipment 60,000
Franchises 160,000
Common Stock ($5 par) 1,002,930
Treasury Stock 193,930
Patents 195,000
Retained Earnings 79,660
Paid-in Capital in Excess of Par 81,660
????????Totals $12,343,820 $12,343,820


Prepare a balance sheet at December 31, 2014, for Scott Butler Corporation. (Ignore income taxes).(List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)

 


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Apr 19, 2020

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