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Prepare a balance sheet at december for vivaldi corporation

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Reference no: EM13523511

Presented below is the trial balance of Vivaldi Corporation at December 31, 2010.
Debit Credits

Cash $197,000

Sales
$7,900,000

Trading securities (at cost, $145,000) 153,000

Cost of goods sold 4,800,000

Long-term investments in bonds 299,000

Long-term investments in stocks 277,000

Short-term notes payable
90,000

Accounts payable
455,000

Selling expenses 2,000,000

Investment revenue
63,000

Land 260,000

Buildings 1,040,000

Dividends payable
136,000

Accrued liabilities
96,000

Accounts receivable 435,000

Accumulated depreciation-Buildings
352,000

Allowance for doubtful accounts
25,000

Administrative expenses 900,000

Interest expense 211,000

Inventories 597,000

Extraordinary gain
80,000

Long-term notes payable
900,000

Equipment 600,000

Bonds payable
1,000,000

Accumulated depreciation-Equipment
60,000

Franchise (net of $80,000 amortization) 160,000

Common stock ($5 par)
1,000,000

Treasury stock 191,000

Patent (net of $30,000 amortization) 195,000

Retained earnings
78,000

Additional paid-in capital

80,000


$12,315,000

$12,315,000

Prepare a balance sheet at December 31, 2010, for Vivaldi Corporation. Ignore income taxes.

Reference no: EM13523511

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