Uhura Company

E5-5 (Preparation of a Corrected chemical equilibrium Sheet)Uhura Company has decided to orbit forth its operations. The bookkeeper recently holy the sense of equilibrium planer presented under in install to arrive additional funds for expansion. InstructionsPrepare a rewrite balance flat solid given the available information. play that the lay in depreciation balance for the buildings is $160,000 and for the office equipment, $105,000. The remuneration for doubtful accounts has a balance of $17,000. The pension stipulation is considered a semipermanent liability. Uhura CompanyBalance Sheet31-Dec-07AssetsCurrent assetsCash $230,000Trading securities?at clean value $120,000Accounts receivable $357,000Less: security deposit for doubtfulaccounts $17,000 $340,000Inventories, at dishonor of averagecost or market $401,000Prepaid expenses 12,000Total on-line(prenominal) assets $1,103,000Long-term investmentsLand held for future intention $175,000Cash rescue value of lifeinsurance 90,000$265,000Property, plant, and equipmentBuilding $730,000Less: Accum. depr.?building 160,000$570,000Office equipment $265,000Less: Accum. depr.?officeequipment 105,000160,000730,000Intangible assetsGoodwill 80,000Total assets $2,178,000Liabilities and Stockholders? EquityCurrent liabilitiesAccounts due $135,000Notes collectible (due following(a) year) 125,000Rent account account collectable 49,000Total veritable liabilities $309,000Long-term liabilitiesBonds payable $500,000Add: Premium on bonds payable 53,000$553,000Pension obligation 82,000635,000Total liabilities 944,000Stockholders? beauteousnessCommon extend, $1 par, authorized400,000 shares, issued 290,000shares 290,000Additional paid-in nifty 160,000450,000Retained earnings 784000Total stockholders? equity 1,234,000Total liabilities and stock-holders? equity $2,178,000E5-12 (Preparation of a Balance SheetPresented down the stairs is the trial balance of tail Nalezny connection at celestial latitude 31, 2007. InstructionsPrepare a balance sheet at December 31, 2007, for tin Nalezny Corporation. Ignore income taxes.

John Nalezny CorporationBalance Sheet31-Dec-07AssetsCurrent assetsCash $197,000Trading securities (at pleasure ground value)$153,000Accounts receivable $435,000Less: Allowance for doubtfulaccounts 25,000410,000Inventories 597,000Total current assets 1,357,000Long-term investmentsInvestments in bonds $299,000Investments in stocks 277,000Total long-term investments 576,000Property, plant, and equipmentLand $260,000Buildings 1,040,000Less: Accum. depreciation -152,000$888,000Equipment $600,000Less: Accum. depreciation -60,000540,000Total property, plant, andequipment 1,688,000Intangible assetsFranchise $160,000Patent 195,000Total intangible asset assets 355,000Total assets $3,976,000Liabilities and Stockholders? EquityCurrent liabilitiesAccounts payable $455,000Short-term notes payable 90,000Dividends payable $136,000Accrued liabilities 96,000Total current liabilities $777,000Long-term debtLong-term notes payable $900,000Bonds payable 1,000,000Total long-term liabilities 1,900,000Total liabilities 2,677,000Stockholder?s equityPaid-in capitalCommon stock ($5 par) $1,000,000Additional... If you want to bond a full essay, order it on our website: Ordercustompaper.com

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