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1 2 3 4 5 Accounts Receivable 6 Inventory 7 Equipment 8 Accumulated depreciation--equipment 9 10 11 Liabilities and Stockholder's Equity 12 Accounts payable 13 Income taxes payable 14 Bonds payable 15 Common stock 16 Retained earnings 17 Total Assets Cash Yardley Company Comparative Balance Sheet December 31 Total 2020 $38,000 30,000 27,000 60,000 -29,000 $126,000 $24,000 7,000 27,000 18,000 50,000 $126,000 2019 $20,000 14,000 20,000 78,000 -24,000 $108,000 $15,000 8,000 33,000 14,000 38,000 $108,000 Incr/(Decr)

1 2 3 4 5 Accounts Receivable 6 Inventory 7 Equipment 8 Accumulated depreciation--equipment 9 10 11 Liabilities and Stockholder's Equity 12 Accounts payable 13 Income taxes payable 14 Bonds payable 15 Common stock 16 Retained earnings 17 Total Assets Cash Yardley Company Comparative Balance Sheet December 31 Total 2020 $38,000 30,000 27,000 60,000 -29,000 $126,000 $24,000 7,000 27,000 18,000 50,000 $126,000 2019 $20,000 14,000 20,000 78,000 -24,000 $108,000 $15,000 8,000 33,000 14,000 38,000 $108,000 Incr/(Decr)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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can you fill this up i don't understand my homework. thank you!

 

1 2 3 4 Cash 5 Accounts Receivable 6 Inventory 7 Equipment 8 Accumulated depreciation--equipment 9 10 11 Liabilities and Stockholder's Equity 12 Accounts payable 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Assets Total Income taxes payable Bonds payable Common stock Retained earnings Total Yardley Company Comparative Balance Sheet December 31 Sales Less: Cost of goods sold Operating expenses Interest expense Loss on sale of equipment Income taxes Net income 2020 $38,000 30,000 27,000 60,000 -29,000 $126,000 $24,000 7,000 27,000 18,000 50,000 $126,000 Yardley Company Income Statement For the Year Ended December 31, 2020 2019 $20,000 14,000 20,000 78,000 -24,000 $108,000 $15,000 8,000 33,000 14,000 38,000 $108,000 $175,000 24,000 3,000 2,500 5,500 Additional information: 1. During the year equipment originally costing $20,000 was sold for $8,000 cash 2. All depreciation expense, of $14,500, is in the operating expenses. Incr/(Decr) $242,000 210,000 $32,000
Transcribed Image Text:1 2 3 4 Cash 5 Accounts Receivable 6 Inventory 7 Equipment 8 Accumulated depreciation--equipment 9 10 11 Liabilities and Stockholder's Equity 12 Accounts payable 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Assets Total Income taxes payable Bonds payable Common stock Retained earnings Total Yardley Company Comparative Balance Sheet December 31 Sales Less: Cost of goods sold Operating expenses Interest expense Loss on sale of equipment Income taxes Net income 2020 $38,000 30,000 27,000 60,000 -29,000 $126,000 $24,000 7,000 27,000 18,000 50,000 $126,000 Yardley Company Income Statement For the Year Ended December 31, 2020 2019 $20,000 14,000 20,000 78,000 -24,000 $108,000 $15,000 8,000 33,000 14,000 38,000 $108,000 $175,000 24,000 3,000 2,500 5,500 Additional information: 1. During the year equipment originally costing $20,000 was sold for $8,000 cash 2. All depreciation expense, of $14,500, is in the operating expenses. Incr/(Decr) $242,000 210,000 $32,000
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