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Balance sheet preparation Use the appropriate items from the following list to prepare in good form Owen Davis Company's balance sheet at December 31, 2012

Finance Oct 23, 2020

Balance sheet preparation Use the appropriate items from the following list to prepare in good form Owen Davis Company's balance sheet at December 31, 2012. (answer by hand writing with showing your name on the top of the page, then insert the answer in the word file) Value (5000) at December 31, 2012 $ 375 100 420 Item Accounts payable Accounts receivable Accruals Accumulated depreciation Buildings Cash Common stock (at par) Cost of goods sold Depreciation expense Equipment Furniture and fixtures General expense Value ($000) at December 31, 2012 Item $ 220 Inventories 450 Land 55 Long-term debts 265 Machinery 225 Marketable securities 215 Notes payable 90 Paid-in capital in excess 2,500 of par 45 Preferred stock 140 Retained earnings Sales revenue 320 Vehicles 420 75 475 360 100 210 170 3,600 25

Expert Solution

OWEN DAVIS COMPANY
BALANCE SHEET
AS AT DECEMBER 31, 2012
         
Sl No   Notes Amount($000) Amount($000)
1 Assets      
  (A) Non-Current Assets      
  Land   100  
  Building   225  
  Equipment   140  
  Furniture & Fixtures   170  
  Machinery   420  
  Vehicles   25  
  Less-Accumulated Depreciation   -265 815
         
  (B) Current Assets      
  Cash   215  
  Marketable Securities   75  
  Accounts Receivable   450  
  Accruals receivable   0  
  Inventories   375 1115
         
  Total Assets     1930
         
2 Equities & Liabilities      
  (A) Equity      
  Paid in Common stock   90  
  Preferred Stock   100  
  Paid in capital in excess of par   360  
  Retained earnings   210 760
         
  (B) Non-Current Liabilities      
  Long Term Debt   420 420
         
  (C) Current Liabilities      
  Accounts Payable   220  
  Accruals payabe   55  
  Notes payable   475 750
         
         
  Total Equities and Liabilities     1930
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