Question

yplus.com/courses/35305/assignments/4082808?module item id=12955161 Current Attempt in Progress The following balance sheet was prepared by the bookkeeper for Kraus Company as of December 31, 2017 Kraus Company Balance Sheet as of December 31, 2017 Cash $97,710 Accounts payable $79.560 Accounts receivable net 52.020 Bonds payable 100 000 Inventory 59.680 Stockholders uity 242.690 300 Louipment 100 33740 $422.250 $422.250 The following additional information is provided 1 Caschindudes the c urrender wall of a surance policy $8.980 and aboverdraft of $2.030 has been deducted 2. The net accounts rece b alance includes accounts receivable-debit balances $59.930, Il accounts receivable credit balances $3.680 c) allowance for doubtful counts $4230 3. Inventory does not include goods costing $3.480 shipped out on consignment. Receivables of $3,480 were recorded on these goods 4 Investments include investments in common stock trading $18.280 and available for sale $47870, and franchises $8.00 5. Equipment costing $4500 with accumulated depreciation $3.500 is no longer used and is held for sale. Accumulated depreciation on the other equipment Prepare a balance sheid om t e Kraus Company Balance Sheet

Answer 1

Kruas Company Balance Sheet
Assets
Cash	97710 - 8,980 + 2,030	90,760
Accounts receivable (net)	59930 - 4230	55,700
Trading Securities		18,280
Inventories		59,680
Equipment held for sale	4500-3500	1,000
Available for sale		47,870
Cash surrender value		8,980
Property plant and equipment , net	104,890 -1,000	103890
Patents		33,740
Franchise		8,060
Total Assets		427,960
Liabilities and equity
Accounts payable	79,560 + 3,680	83,240
Bank Overdraft		2,030
bonds payable		100,000
Stockholders' equity		242,690
Total Liability and equity		427,960