ACC 201 Module 3 SLP (Graded A+) - use as a guide only - 22832

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Additional information for module 3:



  • The company made a secondary offering of stock and raised an additional 
    $150,000.
  • The company had already paid $15,000 in dividends before deciding on the 
    offering.
  • The company now has cash to invest in a piece of raw land on which to build 
    in the future. The investment takes place before year end. The cost of the land 
    is $400,000, the downpayment is $50,000 and a note to the bank covers the rest.

 


Nybrostrand Company


31-Dec-11


Trial Balance (accounts in alphabetical 
order)


 




Debit


Credit


Accounts payable


 


78,000


Accounts receivable


36,500


 


Cash


16,700


 


Common stock


 


10,000


Depreciation expense


24,350


 


Cost of goods sold


317,000


 


Equipment (net of depreciation)


395,000


 


Insurance


1,400


 


Inventory


34,000


 


Long-term debt


 


127,000


Marketing


4,500


 


Paid-in capital


 


50,000


Property taxes


16,900


 


Rent


28,000


 


Retained earnings


 


       ?


Revenues


 


586,000


Salaries


78,500


 


Utilities


6,700


 


 


 


 


Total


959,550


851,000

 

 

 

Prepare a balance sheet for the company in good format. Update the balance 
sheet for the changes to income in module 2 and also consider the effect of 
paying the dividend. You do not need to include the income statement.

 

The submission should be 2 pages, double spaced and need to include answers to all the 
questions listed above. Show computations, discuss the results and include 
references in APA format.

Solution Description

A++++++++

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Balance sheet revised.docx
Balance sheet r...