1. 2. 3. 4. 5. Current Attempt in Progress Comparative balance sheets for Waterway Company are as follows. 6. Assets 7. Cash Show Transcribed Text Accounts receivable Inventory Additional information: Land Equipment Accumulated depreciation-equipment Total Waterway Company Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 3 Ć 2025 $78,100 85,500 181,700 83,000 252,000 $34,200 159,000 221,000 2024 (68,300) (44,700) $612,000 $540,400 197,800 $21,600 75,600 190,900 101,000 196,000 $47,100 210,000 162,000 121.300 $612,000 $540,400 Net income for 2025 was $144,000. Cash dividends of $67,500 were declared and paid. Bonds payable with a carrying value of $51,000 were redeemed for $51,000 cash. Common stock was issued at par for $59,000 cash. Depreciation expense was $23,600. Sales revenue for the year was $978,000. Land was sold at cost, and equipment was purchased for cash.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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H1.

Account 

1.
2.
3.
4.
5.
Current Attempt in Progress
Comparative balance sheets for Waterway Company are as follows.
Show Transcribed Text
6.
Assets
Additional information:
7.
Cash
Accounts receivable
Inventory
Land
Equipment
Accumulated depreciation-equipment
Total
Liabilities and Stockholders' Equity
Accounts payable
Bonds payable
Common stock ($1 par)
Retained earnings
Total
Waterway Company
Comparative Balance Sheets
December 31
Show Transcribed Text
J
2025
$78,100
85,500
181,700
83,000
$34,200
159,000
252,000
196,000
(68,300)
(44,700)
$612,000 $540,400
221,000
2024
197,800
$21,600
75,600
190,900
101,000
$47,100
210,000
162,000
121.300
$612,000 $540,400
Net income for 2025 was $144,000.
Cash dividends of $67,500 were declared and paid.
Bonds payable with a carrying value of $51,000 were redeemed for $51,000 cash.
Common stock was issued at par for $59,000 cash.
Depreciation expense was $23,600.
Sales revenue for the year was $978,000.
Land was sold at cost, and equipment was purchased for cash.
Transcribed Image Text:1. 2. 3. 4. 5. Current Attempt in Progress Comparative balance sheets for Waterway Company are as follows. Show Transcribed Text 6. Assets Additional information: 7. Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Waterway Company Comparative Balance Sheets December 31 Show Transcribed Text J 2025 $78,100 85,500 181,700 83,000 $34,200 159,000 252,000 196,000 (68,300) (44,700) $612,000 $540,400 221,000 2024 197,800 $21,600 75,600 190,900 101,000 $47,100 210,000 162,000 121.300 $612,000 $540,400 Net income for 2025 was $144,000. Cash dividends of $67,500 were declared and paid. Bonds payable with a carrying value of $51,000 were redeemed for $51,000 cash. Common stock was issued at par for $59,000 cash. Depreciation expense was $23,600. Sales revenue for the year was $978,000. Land was sold at cost, and equipment was purchased for cash.
Balance Sheet Accounts
Total
$
Debits
Show Transcribed Text
Balance
12/31/24
Credits
$
Debit
$
$
WATERWAY COMPANY
Worksheet-Statement of Cash Flows
Balance
12/31/24
$
Credit
Debit
$
$
$
Reconciling Items
Balance
12/31/25
Transcribed Image Text:Balance Sheet Accounts Total $ Debits Show Transcribed Text Balance 12/31/24 Credits $ Debit $ $ WATERWAY COMPANY Worksheet-Statement of Cash Flows Balance 12/31/24 $ Credit Debit $ $ $ Reconciling Items Balance 12/31/25
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