Worksheet 2:Problem A – Balance Sheet Snack Tastics’s Corp. makes and distributes snacks and beverages which are sold in kiosks at malls, entertainment venues and big-box stores. Below is a list of all of their accounts as of December 31, 2013:10% Bonds, 20-year bonds, due 12/31/2020800,000 Accounts Payable 83,750 Accounts Receivable 352,400 Accumulated Amortization – Patent 34,920 Accumulated Amortization – Trademark 34,650 Accumulated Depreciation – Building 120,000 Accumulated Depreciation – Equipment 60,000 Additional Paid-in Capital – preferred stock 28,000 Additional Paid-in-Capital, common stock 150,000 Advertising Expense 86,700 Allowance for Doubtful Accounts 15,250 Amortization Expense 7,030 Bad Debt Expense 9,750 Building 1,020,500 Cash 1,354,600 Common Stock ($5 par)300,000 Cost of Goods Sold 129,850 Depreciation Expense (Building & Equipment)35,000 Discount on Bonds Payable 73,010 Dividend Revenue 3,280 Dividends 55,000 Equipment 365,000 Income Tax Expense 242,903 Interest Expense 124,268 Interest Revenue 8,490 Inventories 374,500 Investment in Ferrari Corp stock 41,250 Investment in Sampson Corp stock 48,750 Investment in Durango Corp bonds 51,500 Land 585,000 Long-term Notes Payable 677,500 Patent 77,600 Preferred Stock, ($10 par)100,000 Rent Expense 88,650 Retained Earnings?
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