Sunday, 1 March 2015

ACC 557 Problem 12-6A

Problem 12-6A
The following data, presented in alphabetical order, are taken from the records of Radar Corporation.

Accounts payable $239,320
Accounts receivable 140,500
Accumulated depreciation—buildings 179,430
Accumulated depreciation—equipment 52,860
Allowance for doubtful accounts 5,100
Bonds payable (10%, due 2020) 500,270
Buildings 949,800
Cash 42,240
Common stock ($10 par value; 497,800 shares authorized, 149,900 shares issued) 1,499,000
Dividends payable 80,080
Equipment 275,680
Fair value adjustment—non-trading securities (Dr) 8,830
Goodwill 200,370
Income taxes payable 120,120
Inventory 170,140
Investment in Mara common stock (30% ownership), at equity 379,240
Investment in Sasse common stock (10% ownership), at cost
278,050
Land 390,440
Notes payable (due 2015) 70,010
Paid-in capital in excess of par—common stock 132,920

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