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
|
|
|
$12,315,000
|
$12,315,000
|
Prepare a balance sheet at December 31, 2010, for Vivaldi Corporation. Ignore income taxes.