Reference no: EM132755499

Question - Listed are every account balance for the CoolTech Company on December 31, 2015. What would be the balance sheet for the company on that date?

Warranty Expense $6,000

Warranties Payable $5,000

Cash $30,000

Accounts Payable $15,000

Capital Stock $100,000

Retained Earnings (1/1/20) $50,000

Dividends Payable $15,000

Notes Payable $35,000

Cost of Goods Sold $96,000

Depreciation Expense $5,000

Accumulated Depreciation $35,000

Patents $8,600

Research and Development Expense $15,000

Unearned Revenue $7,400

Inventory $37,600

Income Tax Expense $16,000

Rent Expense $5,200

Allowance for Doubtful Accounts $5,400

Dividends $15,000

Accounts Receivable $73,000

Property and Equipment $100,000

Goodwill $40,000

Sales Revenue $220,000

Salary Expense $34,000

Bad Debt Expense $6,400