View the step-by-step solution to: E5-12 (Preparation of a Balance Sheet) Presented below is the

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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.)
E5-12 Fillable Answers.docx

VIVALDI CORPORATION
Balance Sheet

December 31, 2010
Assets
Current assets








$

$



Less: Allowance for doubtful accounts







Inventories



Total current assets

Long­term investments











Total long­term investments

Property, plant, and equipment













$










Less:







Equipment



Less:




Total property, plant, and equipment

Intangible assets











Total intangible assets





Total assets





$







Current liabilities

Dividends payable








$










Total current liabilities

Long­term liabilities











Total long­term liabilities





Total liabilities

Stockholders' equity
Paid­in capital










$














Liabilities and Stockholders' Equity






$
















Retained earnings





Total paid­in capital and retained earnings





Less:





Total stockholders' equity





Total liabilities and stockholders' equity





$

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Accounting-8370156.doc

VIVALDI CORPORATION
Balance Sheet

December 31, 2010
Assets
Current assets








$

$



Less: Allowance for doubtful accounts







Inventories...

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