Copy of Acct 201Excel assignment 3(LO 3)E5-12

Copy of Acct 201Excel assignment 3(LO 3)E5-12 - 90,000...

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John Nalezny Corporation Balance Sheet December 31, 2007 Assets Current assets: Cash 197,000 Short-term investment 153,000 Recievables 435,000 Less: Allowance for uncollectible Accounts 25,000 410,000 Inventories 597,000 Total current assets 1,357,000 Investments in Stocks 277,000 Investments in Bonds 299,000 Property, plant, and equipment: Land 260000 Building 1,040,000 Machinery and equipment 600,000 less: Accumulated depreciation-building 152,000 Accumulated depreciation-equipment 60,000 Net property, plant, and equipment 1,688,000 Intangibles: Patents 195,000 Franchise 160,000 Total assets 3,976,000 Current liabilities: Liabilities and Shareholders' Equity Accounts payable 455,000 Short-term notes payable
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Unformatted text preview: 90,000 Dividends payable 136,000 Accrued liabilities 96,000 Total current liabilities: 777,000 Long-term liabilities: Note payable 900,000 Bonds Payable 1,000,000 Total long-term liabilities: 1,900,000 Shareholders' equity: Common stock, $5 par, shares authorized 200,000shares issued and outstanding 1,000,000 Additional paid-in capital 80,000 Retained Earnings 410,000 Total sharesholders' equity 1,490,000 Deduct: treasury stock(38,200 Shares) 191,000 Total liabilities and sharesholders' equity 3,976,000 Note: additional retained earnings from closing of income summary, (78,000+332,000)...
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