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Khalil_Nancy_3 - Remember to save the file with your...

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Remember to save the file with your answers and name the file with your last name and first name and upload it under Assignments. Wonder, Inc. Trial Balance FYE 12/31/09 Account Title Acct. Bal. Debit Credit Retained Earnings 700,000 Machinery 300,000 Note Payable 200,000 Cash 130,000 Common Stock 500,000 Prepaid Rent 48,000 Bond Payable (due in 3 years) 400,000 Land 140,000 Accumulated Depreciation 90,000 Allowance for Uncollectible Accounts 13,500 Investments 175,000 Buildings 600,000 Accounts Receivable 207,000 Accounts Payable 35,000 Patent (net of amortization) 50,000 Notes Receivable (due in 4 months) 75,000 Interest Payable 18,000 Salaries Payable 13,500 Inventory 245,000 Totals 3,940,000 Additional Information: a- Cash includes $40,000 set aside to repay the Bond. b- $75,000 worth of Investments are to be sold in eight months. The remaining securities will be held for at least three years. c- Prepaid rent is for two years 2010 & 2011. d- $40,000 of the land balance is land being held for speculation. d- The $200,000 note payable is an installment loan, $20,000 of the principal, plus interest is due on each May 31, for the next ten years.
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