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The following data, presented in alphabetical order, are taken from the records of Radar Corporation.
Accounts payable
$ 240,000
Accounts receivable
140,000
Accumulated depreciation-buildings
180,000
Accumulated depreciation-equipment
52,000
Allowance for doubtful accounts
6,000
Bonds payable (10%, due 2020)
500,000
Buildings
950,000
Cash
42,000
Common stock ($10 par value; 500,000 shares authorized,
150,000 shares issued)
1,500,000
Dividends payable
80,000
Equipment
275,000
Goodwill
200,000
Income taxes payable
120,000
Inventory
170,000
Investment in Sasse common stock (10% ownership), at cost
278,000
Investment in Mara common stock (30% ownership), at equity
380,000
Land
390,000
Market adjustment-available-for-sale securities (Dr)
8,000
Notes payable (due 2013)
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)
Unrealized gain-available-for-sale securities
The investment in Sasse common stock is considered to be a long-term available-for-sale security.
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