Following are all of the December 31, 2014 balance sheet accounts of McCrery Company:
Accounts payable......................................................................
|
$15,650
|
Accounts receivable..................................................................
|
17,650
|
Accrued wages...........................................................................
|
3,950
|
Accumulated depreciation, buildings..................................
|
5,500
|
Accumulated depreciation, equipment...............................
|
4,250
|
Additional paid-in capital on common stock..................
|
3,500
|
Additional paid-in capital on preferred stock..................
|
2,150
|
Allowance for doubtful accounts........................................
|
2,250
|
Bonds payable (due 2017)......................................................
|
113,000
|
Buildings......................................................................................
|
117,500
|
Cash..............................................................................................
|
14,500
|
Common stock, $10 par........................................................
|
106,750
|
Discount on bonds payable..................................................
|
8,900
|
Dividends payable....................................................................
|
14,750
|
Equipment..................................................................................
|
24,000
|
Income taxes payable (current).............................................
|
6,000
|
Interest payable..........................................................................
|
1,500
|
Inventory.....................................................................................
|
18,900
|
Investment in bonds held to maturity...............................
|
24,500
|
Land..............................................................................................
|
70,500
|
Notes payable (due 1/1/17).................................................
|
8,000
|
Office supplies...........................................................................
|
1,750
|
Preferred stock, $100 par.......................................................
|
5,000
|
Prepaid insurance......................................................................
|
1,900
|
Retained earnings......................................................................
|
17,400
|
Sinking fund for bond retirement.......................................
|
8,400
|
Treasury stock (at cost)...........................................................
|
1,150
|
Required:
Prepare a properly classified balance sheet for McCrery Company on December 31, 2014.