Cash $ 200,490 Sales $ 8,104,080 Debt Investments (trading) (at cost, $145,000) 157,080 Cost of Goods Sold 4,800,000 Debt Investments (long-term) 302,490 Equity Investments (long-term) 280,490 Notes Payable (short-term) 94,080 Accounts Payable 459,080 Selling Expenses 2,004,080 Investment Revenue 64,820 Land 264,080 Buildings 1,043,490 Dividends Payable 139,490 Accrued Liabilities 100,080 Accounts Receivable 439,080 Accumulated Depreciation-Buildings 152,000 Allowance for Doubtful Accounts 29,080 Administrative Expenses 901,820 Interest Expense 212,820 Inventory 600,490 Gain 81,820 Notes Payable (long-term) 903,490 Equipment 604,080 Bonds Payable 1,003,490 Accumulated Depreciation-Equipment 60,000 Franchises 160,000 Common Stock ($5 par) 1,004,080 Treasury Stock 195,080 Patents 195,000 Retained Earnings 81,490 Paid-in Capital in Excess of Par 83,490 Totals $12,360,570 $12,360,570 Prepare a balance sheet at December 31, 2020, for Ayayai Corporation. (Ignore income taxes).

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Cash	$ 200,490
Sales		$ 8,104,080
Debt Investments (trading) (at cost, $145,000)	157,080
Cost of Goods Sold	4,800,000
Debt Investments (long-term)	302,490
Equity Investments (long-term)	280,490
Notes Payable (short-term)		94,080
Accounts Payable		459,080
Selling Expenses	2,004,080
Investment Revenue		64,820
Land	264,080
Buildings	1,043,490
Dividends Payable		139,490
Accrued Liabilities		100,080
Accounts Receivable	439,080
Accumulated Depreciation-Buildings		152,000
Allowance for Doubtful Accounts		29,080
Administrative Expenses	901,820
Interest Expense	212,820
Inventory	600,490
Gain		81,820
Notes Payable (long-term)		903,490
Equipment	604,080
Bonds Payable		1,003,490
Accumulated Depreciation-Equipment		60,000
Franchises	160,000
Common Stock ($5 par)		1,004,080
Treasury Stock	195,080
Patents	195,000
Retained Earnings		81,490
Paid-in Capital in Excess of Par		83,490
Totals	$12,360,570	$12,360,570

Prepare a balance sheet at December 31, 2020, for Ayayai Corporation. (Ignore income taxes).

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