Business, 31.12.2019 03:31 innocentman69
P12-6a. the following data, presented in alphabetical order, are taken from the records of nieto corporation.
accounts payable $260,000
accounts receivable $140,000
accumulated depreciation- buildings $180,000
accumulated deprecation-equipment $52,000
allowance for doubtful accounts $6,000
bonds payable (10% due 2023) $500,000
building $950,000
cash $62,000
common stock
($10 par value; 500,000 shares authorized, 150,00 shares issued) $1,500,000
dividends payable $80,000
equipment $275,000
fair value adjustment-available –for-sale securities (dr) $8,000
goodwill $200,000
income taxes payable $120,000
inventory $170,000
investment in mara common stock (30% ownership) at equity $380,000
investment in sasse common stock (10% ownership), at cost $278,000
land $390,000
notes payable (due 2016) $70,000
paid –in capital in excess of par- common stock $130,000
premium on bonds payable $40,000
prepaid insurance $16,000
retained earnings $103,000
short-term investments, at fair value (and cost) $180,000
unrealized gain—available-for-sale-securities $8,000
the investment in sasse common stock is considered to be a long-term available-for-sale security.
instructions
prepare a classi? ed balance sheet at december 31, 2015.
Answers: 2
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P12-6a. the following data, presented in alphabetical order, are taken from the records of nieto cor...
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