Completion of Balance Sheet

question 114

Essay

Completion of balance sheet
Use the following information to complete the balance sheet of Adelphi Construction as of December 31,2014.
(1)The company was organized on January 1,2014 and has operated for the full year 2014.
(2)Earnings were $275,000 and dividends of $70,000 were paid to stockholders.
(3)Cash and accounts receivable together amount to one and one-half times as much as notes payable.

---

Definitions:

Eminent Domain

The power of the state to expropriate private property for public use, with compensation for the property owner.

Economic Development

The process in which an economy grows or changes and becomes more advanced, specifically in terms of economic output, innovation, and improved living standards.

Slum Areas

Highly populated urban residential areas, typically characterized by poor quality housing and sanitary conditions.

Virtual Property

Rights in digital items, such as in-game items or digital assets, that can have real-world value.