: 6.025% Long-Term Note Payable (only Long term portion)................................... $ 230,000
Account Payable ........................................... 220,000
Account Receivable ...........................................
Accumulated Depreciation- Building & Equipment ...........................................
Allowance for doubtful accounts ........................................... 5,800
Building and Equipment ........................................... 400,000
Capital Stock $2 par, authorized 100,000 Shares, Issued &
Outstanding 30,000 shares ........................................... 60,000
Cash on hand ........................................... 44,725
Cash Surrender Value of Life Insurance Policies ........................................... 10,800
Current Installment of Long-Term debt (6.250% Note) ........................................... 20,000
Depreciation Expense ........................................... 19,900
Discontinued Operational Loss ........................................... 42,000
Dividends Receives as Revenue ........................................... 4,500
Error in Inventory Pricing in 2010 ...........................................
Goodwill ........................................... 55,000
Inventories, at FIFO Cost ( with market value of $360,000) ........................................... 332,600
Long-Term Advance to Affiliated Company (Note Receivable) ...................................... 50,000
Paid-in Capital in Excess of par ........................................... 155,200
Prepaid 6 months of Rent ........................................... 3,600
Real Estate Tax Payable due 3/31/14 (Adjusted) ........................................... 6,625
Retained Earnings- Ending 12/31/14 (Adjusted) ........................................... 262,800
Sales ........................................... 450,000
Sales Returns and Allowances ........................................... 3,100
Savings Account Balance as of 12/31/14 ........................................... 26,000
Trading-Marketable Securities ( Listed at Cost, with a Market Value of $51,800) ....... 58,500
Uncollectible Account Expense ........................................... 12,000
Unearned Revenue-Current Portion ........................................... 14,500
Additional Details
* Notes are not required as of 12/31/14.