Presented below is the trial balance of Pina Corporation at December 31, 2020.
Debit Credit
...
Presented below is the trial balance of Pina Corporation at December 31, 2020.
Debit Credit
Cash $200,230
Sales $8,104,580
Debt Investments (trading) (at cost, $145,000) 157,580
Cost of Goods Sold 4,800,000
Debt Investments (long-term) 302,230
Equity Investments (long-term) 280,230
Notes Payable (short-term) 94,580
Accounts Payable 459,580
Selling Expenses 2,004,580
Investment Revenue 67,550
Land 264,580
Buildings 1,043,230
Dividends Payable 139,230
Accrued Liabilities 100,580
Accounts Receivable 439,580
Accumulated Depreciation-Buildings 152,000
Allowance for Doubtful Accounts 29,580
Administrative Expenses 904,550
Interest Expense 215,550
Inventory 600,230
Gain 84,550
Notes Payable (long-term) 903,230
Equipment 604,580
Bonds Payable 1,003,230
Accumulated Depreciation-Equipment 60,000
Franchises 160,000
Common Stock ($5 par) 1,004,580
Treasury Stock 195,580
Patents 195,000
Retained Earnings 81,230
Paid-in Capital in Excess of Par 83,230
Totals $12,367,730 $12,367,730
Required:
Prepare a balance sheet at December 31, 2020, for Scott Butler Corporation.
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