Acct Homework

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SARGENT CORPORATION
Balance Sheet
December 31, 2012|
Assets|
Current assets| | | | | | |
   Cash| | | $154,600| | | |
   Trading securities (at reasonable time value)| | | 84,600| | | |
   Accounts receivable| $174,600| | | | | |
      Less: Allowance for doubtful accounts| 14,600| | 160,000| | | |
   Inventory (lower-of-FIFO-cost-or-market)| | | 184,600| | | |
       entire current assets| | | | | $583,800| |
long investments| | | | | | |
   Investments in common stock (at decent value)| | | 274,600| | | |
   Bond sinking fund| | | 240,800| | | |
   Cash surrender value of life insurance| | | 44,600| | | |
    primer coat held for future use| | | 270,000| | | |
| | | | | 830,000| |
Property, plant, and equipment| | | | | | |
   Land| | | 504,600| | | |
   Buildings| 1,044,600| | | | | |
      Less: Accum. depreciationâ€"buildings| 364,600| | 680,000| | | |
   Equipment| 454,600| | | | | |
      Less: Accum.



depreciationâ€"equipment| 184,600| | 270,000| | 1,454,600| |
Intangible assets| | | | | | |
    franchise| | | 169,600| | | |
   Goodwill| | | 104,600| | | |
| | | | | 274,200| |
      Total assets| | | | | $3,142,600| |
Liabilities and Stockholders Equity|
Current liabilities| | | | | | |
   Accounts account due| | | $144,600| | | |
   Notes payable| | | 84,600| | | |
   Taxes payable| | | 30,800| | | |
   Unearned revenue| | | 9,600| | | |
      Total current liabilities| | | | | $269,600| |
Long-term liabilities| | | | | | |
   Notes payable
   7% bonds payable, due 2020| | | 124,600| | | |
      Less: Discount on bonds payable| 1,004,600| | | | | |
      Total liabilities| 30,800| | 973,800| | 1,098,400| |
| | | | | 1,368,000| |
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