The December 31, 2019, post-closing trial balance for Omani Trading House Company is presented below: Debits Credits Cash 33,750 Investments 82,500 Accounts receivable 45,000 Allowance for uncollectible accounts 11,250 Prepaid insurance 6,750 Inventories 150,000 Land 67,500 Buildings 210,000 Accumulated depreciation – buildings 75,000 Equipment 198,750 Accumulated depreciation – equipment 45,000 Patents (unamortized balance) 7,500 Accounts payable 56,250 Notes payable, due 2020 97,500 Interest payable 15,000 Bonds payable, due 2027 180,000 Ordinary share capital, no par, 20,000 shares authorized, issued and outstanding 225,000 Retained earnings 96,750 Totals 801,750 801,750 Required: Prepare a classified statement of financial position for Company at December 31, 2019.
The December 31, 2019, post-closing trial
|
|
Debits |
Credits |
|
Cash |
33,750 |
|
|
Investments |
82,500 |
|
|
|
45,000 |
|
|
Allowance for uncollectible accounts |
|
11,250 |
|
Prepaid insurance |
6,750 |
|
|
Inventories |
150,000 |
|
|
Land |
67,500 |
|
|
Buildings |
210,000 |
|
|
|
|
75,000 |
|
Equipment |
198,750 |
|
|
Accumulated depreciation – equipment |
|
45,000 |
|
Patents (unamortized balance) |
7,500 |
|
|
Accounts payable |
|
56,250 |
|
Notes payable, due 2020 |
|
97,500 |
|
Interest payable |
|
15,000 |
|
Bonds payable, due 2027 |
|
180,000 |
|
Ordinary share capital, no par, 20,000 shares authorized, issued and outstanding |
|
225,000 |
|
|
|
96,750 |
|
Totals |
801,750 |
801,750 |
Required:
Prepare a classified statement of financial position for Company at December 31, 2019.
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