Business, 15.02.2021 19:50 sdfhghjg

Presented below is the trial balance of Coronado Corporation at December 31, 2020. Debit Credit
Cash $201,010
Sales $8,104,270
Debt Investments (trading) (at cost, $145,000) 157,270
Cost of Goods Sold 4,800,000
Debt Investments (long-term) 303,010
Equity Investments (long-term) 281,010
Notes Payable (short-term) 94,270
Accounts Payable 459,270
Selling Expenses 2,004,270
Investment Revenue 65,700
Land 264,270
Buildings 1,044,010
Dividends Payable 140,010
Accrued Liabilities 100,270
Accounts Receivable 439,270
Accumulated Depreciation-Buildings 152,000
Allowance for Doubtful Accounts 29,270
Administrative Expenses 902,700
Interest Expense 213,700
Inventory 601,010
Gain 82,700
Notes Payable (long-term) 904,010
Equipment 604,270
Bonds Payable 1,004,010
Accumulated Depreciation-Equipment 60,000
Franchises 160,000
Common Stock ($5 par) 1,004,270
Treasury Stock 195,270
Patents 195,000
Retained Earnings 82,010
Paid-in Capital in Excess of Par 84,010
Totals $12,366,070 $12,366,070

Required:
Prepare a balance sheet at December 31, 2020, for Coronado Corporation.

Answers: 2

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Presented below is the trial balance of Coronado Corporation at December 31, 2020. Debit Credit

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