Presented below is the trial balance of Vivaldi Corporation at December 31, 2012. Debit Credit Cash...
Presented below is the trial balance of Vivaldi Corporation at December 31, 2012.
|
Debit |
Credit |
|
|
Cash |
$199,140 |
|
|
Sales |
$7,904,980 |
|
|
Debt Investments (trading) (cost, $145,000) |
157,980 |
|
|
Cost of Goods Sold |
4,804,980 |
|
|
Debt Investments (long-term) |
301,140 |
|
|
Equity Investments (long-term) |
279,140 |
|
|
Notes Payable (short-term) |
94,980 |
|
|
Accounts Payable |
459,980 |
|
|
Selling Expenses |
2,004,980 |
|
|
Investment Revenue |
64,580 |
|
|
Land |
260,000 |
|
|
Buildings |
1,042,140 |
|
|
Dividends Payable |
138,140 |
|
|
Accrued Liabilities |
100,980 |
|
|
Accounts Receivable |
439,980 |
|
|
Accumulated Depreciation—Buildings |
352,000 |
|
|
Allowance for Doubtful Accounts |
29,980 |
|
|
Administrative Expenses |
901,580 |
|
|
Interest Expense |
212,580 |
|
|
Inventory |
599,140 |
|
|
Extraordinary Gain |
81,580 |
|
|
Notes Payable (long-term) |
902,140 |
|
|
Equipment |
604,980 |
|
|
Bonds Payable |
1,002,140 |
|
|
Accumulated Depreciation—Equipment |
60,000 |
|
|
Franchises |
160,000 |
|
|
Common Stock ($5 par) |
1,004,980 |
|
|
Treasury Stock |
195,980 |
|
|
Patents |
195,000 |
|
|
Retained Earnings |
80,140 |
|
|
Paid-in Capital in Excess of Par |
82,140 |
|
|
$12,358,740 |
$12,358,740 |
Calculate ending retained earnings and prepare a balance sheet at December 31, 2012, for Vivaldi Corporation. Ignore income taxes.
Homework Answers
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