Big Data Company Adjusted Trial Balance December 31, 2018 Prepare Balance Sheet

Question

Big Data Company Adjusted Trial Balance December 31, 2018 Prepare Balance Sheet Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory $43,500.0 45,000.00 $3,100.00 18,600.00 1,500.00 2,000.00 75,000.00 650,000.00 Prepaid Insurance Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Revenue Salaries Payable Notes Payable, due May.31, 2019 Mortgage Payable due Dec. 31, 2025 Common Stock Retained Earnings Dividends 340,000.00 160,000.00 42,400.00 22,500.00 1,200.00 25,000.00 128,000.00 250,000.00 272,000.00 35,000.00 197,000.00 4,300.00 Sales Returns & Allowances Sales Discounts Cost of Goods Sold Salaries Expense Depreciation Expense Freight Out Advertising Expense Utilities Expense Supplies Expense Bad Debt Expense Interest Revenue Gain on sale of Equipment Loss on sale of Building Interest Expense 118,000.00 30,000.00 14,000.00 800.00 3,000.00 2,400.00 1,800.00 2,600.00 700.00 2,000.00 3,500.00 1,200.00 Total:$1,443,900.00 $1,443,900.00

Explanation / Answer

Working:

Big Data Company Balance Sheet December 31, 2018 Assets Current assets: Cash 43500 Accounts receivable 45000 Less: Allowance for doubtful accounts -3100 41900 Merchandise inventory 18600 Supplies 1500 Prepaid insurance 2000 Total current assets 107500 Property, plant, and equipment Land 75000 Buildings 650000 Less: Accumulated depreciation -340000 310000 Equipment 390000 Less: Accumulated depreciation -160000 230000 Total property, plant, and equipment 615000 Total assets 722500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 42400 Unearned revenue 22500 Salaries payable 1200 Notes payable, due May 31, 2019 25000 Total current liabilities 91100 Long-term liabilities: Mortgage payable, due Dec. 31, 2025 128000 Total liabilities 219100 Stockholders' Equity: Common stock 250000 Retained earnings 253400 Total stockholders' equity 503400 Total liabilities and stockholders' equity 722500

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