Problem: Use the appropriate items from the following list to prepare in good form Owen Davis Company's balance sheet at December 31, 2009.
Item December 31, 2009 Item December 31, 2009
Accounts payable $ 220 Inventories $ 375
Accounts receivable 450 Land 100
Accruals 55 Long-term debts 420
Accumulated depreciation 265 Machinery 420
Buildings 225 Marketable securities 75
Cash 215 Notes payable 475
Common stock (at par) 90 Paid-in capital in excess
Cost of goods sold 2,500 of par 360
Depreciation expense 45 Preferred stock 100
Equipment 140 Retained earnings 210
Furniture and fixtures 170 Sales revenue 3,600
General expense 320 Vehicles 25