Exercise 5-5 bruno company | Accounting homework help

Exercise 5-5
Bruno Company has decided to expand its operations. The bookkeeper recently completed the balance sheet presented below in order to obtain additional funds for expansion.

BRUNO COMPANY
BALANCE SHEET
DECEMBER 31, 2012
Current assets
Cash $264,970
Accounts receivable (net) 344,970
Inventories (lower-of-average-cost-or-market) 405,970
Equity investments (trading)—at cost (fair value $123,050) 143,050
Property, plant, and equipment
Buildings (net) 573,050
Equipment (net) 163,050
Land held for future use 178,050
Intangible assets
Goodwill 84,970
Cash surrender value of life insurance 94,970
Prepaid expenses 16,970
Current liabilities
Accounts payable 138,050
Notes payable (due next year) 129,970
Pension obligation 85,050
Rent payable 53,970
Premium on bonds payable 57,970
Long-term liabilities
Bonds payable 503,050
Stockholders’ equity
Common stock, $1.00 par, authorized 400,000 shares, issued 294,970 294,970
Additional paid-in capital 184,970
Retained earnings ? 

Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $164,970 and for the office equipment, $109,970. The allowance for doubtful accounts has a balance of $21,970. The pension obligation is considered a long-term liability. (List current assets in order of liquidity. List property plant and equipment in order of buildings and equipment.)







Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10