Question

3-5 lalance sheet preparation 10-2.0-3 The following are the ending balances of the Deel 2021. for the Pump Corporation Are The Duh CH Cash AR Bay Ini By w 525.000 56,000 81.000 5 10000 44000 1:20.000 100.000 75 000 25.00 13.000 Huilding Accumulated depreciation-bolid Equipment Accued depreciation Cup Prepaid experie ( 12 ) Accepte Defender 12 months Noble Alice force Conton stock Rainnd earப்ரா Totes 32,000 65.000 20.000 150.000 5.000 200.000 70,000 3745.000 245.000 Asian L The SIM.DOO Bence in the land on cortists of 100.000 for the cost of and where the plans and office buildings are located. The resi 50.000 the cost of land being held for polition 2. The 544,00 Belice in the continuity is account represent in the common stock of the corporation Valley intends to seletal of the stock within the next year. 2. The notes abors of $100.000 ed in six months and 150.000 note due in the annual intents of $50,000 ach, with the first payment due in August of 2022.

Answer 1

	Volley Pump Corporation
	Balance Sheet
	As at Dec 31, 2021
	Assets
	Non-Current Assets
	Land For Business	100000
	Equipment	75000
	Less: Accumulated dep	-25000
	Non-Current Investment	22000
	Building	300000
	Less: Accumulated dep	-100000
	Copyright	12000
	Total Non-Current Assets	384000
	Current Assets
	Cash	25000
	Account Receivable	56000
	Less: Allowance for Bad debt	-5000
	Current Investment	22000
	Inventory	81000
	Land For Speculation Purpose	20000
	Prepaid Exp	32000
	Total Current Assets	231000
	Total Assets	615000
	Equity & Liability
	Equity
	Common Stock	200000
	Retained Earning	70000
	Deffered reserves	20000
	Total Equity	290000
	Non-Current Liability
	Notes Payable	100000
	Total Non-Current Liability	100000
	Current Liability
	Notes Payable (current)	150000
	Interest Payable	10000
	Account Payable	65000
	Total Current Liability	225000
	Total Equity & Liability	615000