Question (Category: accounting homework)
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.br br br bruno companybr br balance sheetbr br december 30, 2010br br current assets br cash $231,150br accounts receivable (net) 324,150br inventories at lower of average cost or market 401,000br trading securities-at cost (fair value $120,000) 140,000br property, plant, and equipment br building (net) 571,820br office equipment (net) 160,000br land held for future use 176,820br intangible assets br goodwill 80,000br cash surrender value of life insurance 90,000br prepaid expenses 12,000br current liabilities br accounts payable 106,820br notes payable (due next year) 126,150br pension obligation 82,000br rent payable 50,150br premium on bonds payable 53,000br long-term liabilities br bonds payable 501,820br stockholders039 equity br common stock, $1.00 par, authorized br 400,000 shares, issued 290,000 290,000br additional paid-in capital 160,000br retained earnings ? br br prepare a revised balance sheet given the available information. assume that the accumulated depreciation balance for the buildings is $160,000 and for the office equipment, $105,000. the allowance for doubtful accounts has a balance of $17,000. the pension obligation is considered a long-term liability. div
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