The following data, presented in alphabetical order, are taken from the records of Mussatto Corporation.
|
Accounts payable |
$ 375,000 |
|
Accounts receivable |
135,000 |
|
Accumulated depreciation—buildings |
270,000 |
|
Accumulated depreciation—equipment |
80,000 |
|
Allowance for doubtful accounts |
10,000 |
|
Bonds payable (10%, due 2024) |
600,000 |
|
Buildings |
1,350,000 |
|
Cash |
210,000 |
|
Common stock ($5 par value; 500,000 shares authorized, 440,000 shares issued) |
2,200,000 |
|
Discount on bonds payable |
30,000 |
|
Dividends payable |
75,000 |
|
Equipment |
415,000 |
|
Goodwill |
300,000 |
|
Income taxes payable |
180,000 |
|
Inventory |
255,000 |
|
Investment in Sanchez Inc. stock (30% ownership), at equity |
900,000 |
|
Land |
780,000 |
|
Notes payable (due 2015) |
110,000 |
|
Paid-in capital in excess of par—common stock |
300,000 |
|
Prepaid insurance |
25,000 |
|
Retained earnings |
480,000 |
|
Short-term investments, at fair value (and cost) |
280,000 |
Instructions
Prepare a classified balance sheet at December 31, 2014.