Listed below (in random order) are all of the December 31, 2016 balance accounts of McGrery Company. Land $70,500 Sinking fund for bond retirement 8,400 Discount on bond payable 8,900 Equipment 24,000 Preferred Stock, $100 par 5,000 Accumulated Depreciation, buildings 5,500 Investment in bonds held to maturity 24,500 Accrued wages 3,950 Additional Paid-In Capital on common stock 3,500 Buildings 117,500 Bonds Payable (due 2019) 113,000 UVI Online ACC 3010 Mid-term Assessment 3 Office Supplies 1,750 Retained Earnings 17,400 Inventory 18,900 Accounts Receivable 17,650 Accounts Payable 15,650 Prepaid Insurance 1,900 Common Stock, $10 par 106,750 Allowance For Doubtful Accounts 2,250 Interest Payable 1,500 Cash 14,500 Treasury Stock (At Cost) 1,150 Dividends Payable 14,750 Additional Paid-In Capital On Preferred Stock 2,150 Notes Payable (Due 1/1/2019) 8,000 Income Taxes Payable (Current) 6,000 Accumulated Depreciation, Equipment 4,250 Insurance 500 Required: Prepare a properly classified balance sheet for McCrery Company on December 31, 2016.
Listed below (in random order) are all of the December 31, 2016 balance accounts of McGrery Company.
Land $70,500
Sinking fund for bond retirement 8,400
Discount on bond payable 8,900
Equipment 24,000
Accumulated
Investment in bonds held to maturity 24,500
Accrued wages 3,950
Additional Paid-In Capital on common stock 3,500
Buildings 117,500
Bonds Payable (due 2019) 113,000
UVI Online ACC 3010 Mid-term Assessment 3
Office Supplies 1,750
Retained Earnings 17,400
Inventory 18,900
Accounts Receivable 17,650
Accounts Payable 15,650
Prepaid Insurance 1,900
Common Stock, $10 par 106,750
Allowance For Doubtful Accounts 2,250
Interest Payable 1,500
Cash 14,500
Treasury Stock (At Cost) 1,150
Dividends Payable 14,750
Additional Paid-In Capital On Preferred Stock 2,150
Notes Payable (Due 1/1/2019) 8,000
Income Taxes Payable (Current) 6,000
Accumulated Depreciation, Equipment 4,250
Insurance 500
Required: Prepare a properly classified
31, 2016.
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