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ALLENDALE COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets $40,000 20,000...

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Accounting

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ALLENDALE COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets $40,000 20,000 54,000 135,000 25,000 274,000 27,000 270,000 29,000 $600,000 36,000 6,000 46,000 143,000 10,000 241,000 20,000 255,000 24,000 $540,000 Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable $17,000 113,800 21,000 151,800 $6,000 100,000 15,000 121,000 Total current liabilities Noncurrent liabilities 100,000 32,000 132,000 283,800 100,000 27,000 127,000 248,000 Bonds payable Other Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock (par value $10, 4% cumulative. nonparticipating; 8,000 shares authorized and 80,000 80,000 issued) 10,000 shares issued) Total stockholders' equity Common stock (no par, 50,000 shares authorized; 80,000 156,200 316,200 $600,000 80,000 132,000 292,000 $540,000 Retained earnings Total liabilities and stockholders' equity

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