Assume that Denis Savard Inc has the following accounts at t

Assume that Denis Savard Inc. has the following accounts at the end of the current year.

1.		Common Stock		14.		Accumulated Depreciation-Buildings.
2.		Discount on Bonds Payable.		15.		Cash Restricted for Plant Expansion.
3.		Treasury Stock (at cost).		16.		Land Held for Future Plant Site.
4.		Notes Payable (short-term).		17.		Allowance for Doubtful Accounts.
5.		Raw Materials		18.		Retained Earnings.
6.		Preferred Stock (Equity) Investments (long-term).		19.		Paid-in Capital in Excess of Par-Common Stock.
7.		Unearned Rent Revenue.		20.		Unearned Subscriptions Revenue.
8.		Work in Process.		21.		Receivables-Officers (due in one year).
9.		Copyrights.		22.		Inventory (finished goods).
10.		Buildings.		23.		Accounts Receivable.
11.		Notes Receivable (short-term).		24.		Bonds Payable (due in 4 years).
12.		Cash.		25.		Noncontrolling Interest.
13.		Salaries and Wages Payable.

Liabilities and Stockholders\' Equity Current Liabilities Salaries and Wages Payable $XXX Unearned Subscriptions Revenue Unearned Rent Revenue Unearned Service Revenue Total Current Liabilities $XXX Long-term Debt Bonds Payable $XXX Less ? Discount on Bonds Payable Total Long-term Liabilities Total Long-term Liabilities Long-term Investments

Solution

Liabilities and Stock holders equity Current Liabilities: Salaries and wages payable $XXX Note payable $XXX Unearned Subscription Revenue $XXX Unearned Rent Revenue $XXX Total Current Liabilities $XXX Long Term Debt Bonds payable,due in four years $XXX Less Discount on bonds payable (XXX) $XXX Total Liabilities $XXX Stock Holder\'s Equity Capital Stock Common Stock $XXX Additional Paid In capital: Paid-in Capital in Excess of Par-Common Stock $XXX Total Paid in Capital $XXX Retained Earnings $XXX Total Paid in Capital In retained Earnings $XXX Less: Treasury Stock (at cost) (XXX) $XXX Non controlling Interest $XXX Total Stock holders equity $XXX Total liabilities and stockholders equity $XXX