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Accounting & Finance
 Online Tutoring : Forum : Homework Help - Economics & Business Studies : Accounting & Finance
Topic Topic: Balance sheet Post ReplyNew Question
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Nikkij19
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Joined: 10 July 2007
Location: United States
Posts: 7
Posted: 10 July 2007 at 9:43pm | IP Logged Quote Nikkij19

     For ABC Corporation as of December 31, 2002 prepare a Balance Sheet in proper order based on the following information. Arrange the following items in proper balance sheet presentation.

 

Accumulated depreciation......................................................... $ 300,000

Retained earnings ............................................................ ............       96,000

Cash ............................................................ .....................................       10,000

Bonds payable ............................................................ ..................     136,000

Accounts receivable ............................................................ ........       48,000

Plant and equipment—original cost........................................     680,000

Accounts payable ............................................................ .............       35,000

Allowance for bad debts ............................................................ .         6,000

Common stock $1 par, 100,000 shares outstanding...........     100,000

Inventory ............................................................ .............................       66,000

Preferred stock, $50 par, 1,000 shares outstanding............       50,000

Marketable securities ............................................................ .......       20,000

Investments ............................................................ ........................       20,000

Notes payable ............................................................ ....................       33,000

Capital paid in excess of par (common stock)......................       88,000

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