Reference no: EM131219153
The following data, presented in alphabetical order, are taken from the records of Nieto Corporation. Accounts Payable $260,000 Accounts Receivable $140,000 Accumulated depreciation- buildings $180,000 Accumulated deprecation-equipment $52,000 Allowance for doubtful accounts $6,000 Bonds payable (10% due 2023) $500,000 Building $950,000 Cash $62,000 Common Stock ($10 par value; 500,000 shares authorized, 150,00 shares issued) $1,500,000 Dividends payable $80,000 Equipment $275,000 Fair Value Adjustment-available –for-sale securities (Dr) $8,000 Goodwill $200,000 Income taxes payable $120,000 Inventory $170,000 Investment in Mara common stock (30% ownership) at equity $380,000 Investment in Sasse common stock (10% ownership), at cost $278,000 Land $390,000 Notes Payable (due 2016) $70,000 Paid –in Capital in excess of par- common stock $130,000 Premium on bonds payable $40,000 Prepaid insurance $16,000 Retained earnings $103,000 Short-term investments, at fair value (and cost) $180,000 Unrealized gain—available-for-sale-securities $8,000 The investment in Sasse common stock is considered to be a long-term available-for-sale security. Instructions Prepare a classi?ed balance sheet at December 31, 2015.
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