balance sheet from trail balance 461344
Presented below is the trial balance of Vivaldi Corporation at December 31, 2010.
| Debit | Credits | ||
| Cash | $197,000 | ||
| Sales | $7,900,000 | ||
| Trading securities (at cost, $145,000) | 153,000 | ||
| Cost of goods sold | 4,800,000 | ||
| Long-term investments in bonds | 299,000 | ||
| Long-term investments in stocks | 277,000 | ||
| Short-term notes payable | 90,000 | ||
| Accounts payable | 455,000 | ||
| Selling expenses | 2,000,000 | ||
| Investment revenue | 63,000 | ||
| Land | 260,000 | ||
| Buildings | 1,040,000 | ||
| Dividends payable | 136,000 | ||
| Accrued liabilities | 96,000 | ||
| Accounts receivable | 435,000 | ||
| Accumulated depreciation-Buildings | 352,000 | ||
| Allowance for doubtful accounts | 25,000 | ||
| Administrative expenses | 900,000 | ||
| Interest expense | 211,000 | ||
| Inventories | 597,000 | ||
| Extraordinary gain | 80,000 | ||
| Long-term notes payable | 900,000 | ||
| Equipment | 600,000 | ||
| Bonds payable | 1,000,000 | ||
| Accumulated depreciation-Equipment | 60,000 | ||
| Franchise (net of $80,000 amortization) | 160,000 | ||
| Common stock ($5 par) | 1,000,000 | ||
| Treasury stock | 191,000 | ||
| Patent (net of $30,000 amortization) | 195,000 | ||
| Retained earnings | 78,000 | ||
| Additional paid-in capital |
80,000 Don't use plagiarized sources. Get Your Custom Essay on
balance sheet from trail balance 461344
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$12,315,000 |
$12,315,000 |
Prepare a balance sheet at December 31, 2010, for Vivaldi Corporation. Ignore income taxes. (List liabilities, long-term investments, and intangible assets from largest to smallest amount, e.g. 10, 5, 3.)
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