Order answer: Brandt Company presents the following December 31 2013 balance sheet The

Essay Writers Law Order answer: Brandt Company presents the following December 31 2013 balance sheet The

Law

Order answer: Brandt Company presents the following December 31 2013 balance sheet The

Brandt Company presents the following December 31, 2013, balance sheet: The following information is also available: 1. Current assets include cash, $3,800; accounts receivable, $18,500; notes receivable (maturity date July 1, 2015), $10,000; and land, $12,000. 2. Long-term investments include a $4,600 investment in available-for-sale securities that are expected to be sold in 2014 and a $9,000 investment in Dray Company bonds that are expected to be held until their December 31, 2019, maturity date. 3. Property, plant, and equipment include buildings costing $63,400, inventory costing $30,500, and equipment costing $29,600. 4. Intangible assets include patents that cost $8,200 (and on which $2,300 amortization has accumulated) and treasury stock that cost $1,800. 5. Other assets include prepaid insurance (which expires on November 30, 2014), $2,900; sinking fund for bond retirement, $7,000; and trademarks that cost $3,700 and are not impaired. 6. Current liabilities include accounts payable, $19,400; bonds payable (maturity date December 31, 2021), $40,000; and accrued income taxes payable, $7,200. 7. Long-term liabilities include accrued wages, $4,100; and mortgage payable (which is due in five equal annual payments starting December 31, 2014), $20,000. 8. Contributed capital includes common stock ($5 par), $11,000; and preferred stock ($100 par), $6,000. 9. Unrealized capital includes premium on bonds payable, $4,300; Additional Paid-In Capital on preferred stock, $2,400; Additional Paid-In Capital on common stock, $14,700; and unrealized increase in value of securities available for sale, $1,100. 10. Retained earnings include unrestricted retained earnings, $37,800; allowance for doubtful accounts, $700; and accumulated depreciation on buildings and equipment of $21,000 and $13,000, respectively. Required: Based on the preceding information, prepare a properly classified December 31, 2013, balance sheet for Brandt.

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