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posted a question Oct 01, 2012 at 10:15pm
E5-12 (Preparation of a Balance Sheet)

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 $12,315,00

Answer in Attached file: Prepare a balance sheet at December 31, 2010, for Vivaldi Corporation. Ignore income taxes. (List liabilities, long-term investments, and intangible assets from largest to smallest amount, e.g. 10, 5, 3.)
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    VIVALDI CORPORATION
    Balance Sheet

    December 31, 2010
    Assets
    Current assets
          
          
          

     
     

     
    $

    $

     ...
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Expert answered the question Oct 03, 2012 at 9:40am
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VIVALDICORPORATION
BalanceSheet

December31,2010
Assets
Currentassets








$

$



Less:Allowancefordoubtfulaccounts







Inventories



Totalcurrentassets

Longterminvestments...