I am stuck on this one- what am I leaving out? The classifed sheet is my work so

Question

I am stuck on this one- what am I leaving out? The classifed sheet is my work so far.

The following information applies to the questions displayed below,] Cougar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) Accounts receivable Inventory Notes recelvable (long-term) Equipment Factory building Intangibles S 21,000 Accounts payable 2,300 Accrued liabilities payable 3,200 Notes payable (short-term) 27000 Notes payable (long-term) 2,900 Common stock 5,000 Additional paid-in capital $19,000 2,400 6,600 43,000 9,400 84,600 33,500 93,000 Retained earnings 4,100 During the current year, the company had the following summarized activities: a. Purchased short-term investments for $7,600 cash. b. Lent $6,200 to a supplier who signed a two-year note. c Purchased equipment that cost $25,000; paid $4,700 cash and signed a one-year note for the balance. d. Hired a new president at the end of the year. The contract was for $93,000 per year plus options to purchase company stock at a set price based on company performance e. Issued an additional 1,800 shares of $0.50 par value common stock for $14,000 cash. f Borrowed $16,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $2,900 cash. h. Built an addition to the factory for $30,000; paid $7,000 in cash and signed a three-year note for the balance i. Returned defective equipment to the manufacturer, receiving a cash refund of $2,900.

Explanation / Answer

Ans Cougar Plastic Company Balance sheet Assets Amount Liabilities Amount Current Assets Current Liabilities Cash       25,500 Accounts Payables 19,000 Investments          9,900 accrued liabilities payable 2,400 Accounts receivable          3,200 short term notes payable 42,900 Inventory       27,000 Total current assets       65,600 Total current Liabilities 64,300 Non current assets Long Note payable 66,000 Note receivable          9,100 Total Liabilities 130,300 Equipment       67,100 Shareholder' Equity Factory building     123,000 Common stock 10,300 Intangibles          7,000 Additional paid- in capital 97,700 Retained earnings 33,500 Total Non current assets     206,200 Total Shareholder' Equity 141,500 Total Assets     271,800 Total Liabiities and Total Shareholder' s Equity 271,800 Journal Entries a Short terms investment    Dr 7600 To cash 7600 (being short investment purchased) b Note Receivable    Dr 6200 To cash 6200 (being Note issued) C Equipment               Dr 25000 To cash                                  4,700 To short term notes payable                                20,300 (being equipment purchased) d No entry E Cash                    Dr. 14000 To Common stock                                      900 To Additional paid- in capital                                13,100 ( being shares issued) F Cash              Dr. 16000 To short term notes payable 16000 (being amount borrowed) G Intangibles                Dr. 2900 To cash 2900 (Being intangibles purchased) H Factory building    Dr. 30000 To Cash                                  7,000 To Long Note payable                                23,000 ( Being building purchased) I Cash 2900 To equipment 2900 (being equipment returned)

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