Solutions Economics

For ABC Corporation as of December 31, 2002 prepare a Balance Sheet in proper order based on the fol

Question: For ABC Corporation as of December 31, 2002 prepare a Balance Sheet in proper order based on the following information.

Arrange the following items in proper balance sheet presentation. Accumulated depreciation ............................................... $300,000 Retained earnings ........................................................... 96,000 Cash .............................................................................. 10,000 Bonds payable ................................................................ 136,000 Accounts receivable ........................................................ 48,000 Plant and equipment—original cost ................................... 680,000 Accounts payable ............................................................ 35,000 Allowance for bad debts .................................................. 6,000 Common stock $1 par, 100,000 shares outstanding .. ........ 100,000 Inventory ......................................................................... 66,000 Preferred stock, $50 par, 1,000 shares outstanding ............ 50,000 Marketable securities ........................................................ 20,000 Investments ............. ..................................................... 20,000 Notes payable .................................................................. 33,000 Capital paid in excess of par (common stock) ................... 88,000

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