Additional information added in module 2 one client had indicated

Additional information added in module 2

One client had indicated that they were interested in purchasing $42,500 worth of products. However, the client has not actually committed to the purchase.
The bookkeeper already corrected the sales account. However, the bookkeeper may have made a mistake when computing cost of goods sold. She included total production costs for 2014 and did not adjust ending inventory for the $42,500 worth of units left at the end of the year. The amount of ending inventory was determined using a physical count.

Additional information for module 3

The company made a secondary offering of stock and raised an additional $180,000 which includes $150,000 of Paid-in Capital.
The company had already paid $15,000 in dividends before deciding on the offering.
The company now has cash to invest in a piece of raw land on which to build in the future. The investment takes place before year end. The cost of the land is $400,000, the down payment is $40,000 and a note to the bank covers the rest.

Nybrostrand Company
31-Dec-14
Trial Balance (accounts in alphabetical order)
	Debit	Credit
Accounts payable		$ 78,000
Accounts receivable	$ 36,500
Cash	30,000
Common stock		10,000
Depreciation expense	24,350
Cost of goods sold	307,000
Equipment (net of depreciation)	415,000
Insurance	1,400
Inventory	34,000
Long-term debt		127,000
Marketing	4,500
Paid-in capital		50,000
Property taxes	16,900
Rent	28,000
Retained earnings		?
Revenues		586,000
Salaries	78,500
Utilities	6,700

Total	982,850	982,850

Homework Assignment Needed

Prepare a balance sheet for the company in good format. Update the balance sheet for the changes to income in module 2 and also consider the effect of paying the dividend. You do not need to include the income statement.

The submission should be 2 to 4 pages and need to include answers to all the questions listed above. Show computations, discuss the results and include references in APA format

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