2025 2024 Debit Balances Cash $69,500 $51,100 Accounts Receivable 155,000 129,800 Inventory 75.200 61,300 Debt Investments (available-for-sale) 55,200 85,800 Equipment 70,000 48.100 Buildings 145.200 145.200 Land 39,700 25.100 Totals $609,800 $546,400 Credit Balances Allowance for Doubtful Accounts $10,000 $8,000 Accumulated Depreciation-Equipment 20,800 13,900 Accumulated Depreciation-Buildings 36.700 27,800 Accounts Payable 66,600 60,200 Income Taxes Payable 12,000 10,100 Long-Term Notes Payable 62,000 70,000 Common Stock 310,000 260,000 Retained Earnings 91,700 96,400 Totals $609,800 $546,400 Additional data: 1. Equipment that cost $10,000 and was 60% depreciated was sold in 2025. 2. Cash dividends were declared and paid during the year. 3. Common stock was issued in exchange for land. SUPPO vestments that cost $35,300 were sold during the year.
2025 2024 Debit Balances Cash $69,500 $51,100 Accounts Receivable 155,000 129,800 Inventory 75.200 61,300 Debt Investments (available-for-sale) 55,200 85,800 Equipment 70,000 48.100 Buildings 145.200 145.200 Land 39,700 25.100 Totals $609,800 $546,400 Credit Balances Allowance for Doubtful Accounts $10,000 $8,000 Accumulated Depreciation-Equipment 20,800 13,900 Accumulated Depreciation-Buildings 36.700 27,800 Accounts Payable 66,600 60,200 Income Taxes Payable 12,000 10,100 Long-Term Notes Payable 62,000 70,000 Common Stock 310,000 260,000 Retained Earnings 91,700 96,400 Totals $609,800 $546,400 Additional data: 1. Equipment that cost $10,000 and was 60% depreciated was sold in 2025. 2. Cash dividends were declared and paid during the year. 3. Common stock was issued in exchange for land. SUPPO vestments that cost $35,300 were sold during the year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
answer must be in table format or i will give down vote
Transcribed Image Text:2025
2024
Debit Balances
Cash
$69,500
$51,100
Accounts Receivable
155,000
129,800
Inventory
75.200
61,300
Debt Investments (available-for-sale)
55,200
85,800
Equipment
70,000
48.100
Buildings
145.200
145.200
Land
39,700
25.100
Totals
$609,800
$546,400
Credit Balances
Allowance for Doubtful Accounts
$10,000
$8,000
Accumulated Depreciation-Equipment
20,800
13,900
Accumulated Depreciation-Buildings
36.700
27,800
Accounts Payable
66,600
60,200
Income Taxes Payable
12,000
10,100
Long-Term Notes Payable
62,000
70,000
Common Stock
310,000
260,000
Retained Earnings
91,700
96,400
Totals
$609,800
$546,400
Additional data:
1.
Equipment that cost $10,000 and was 60% depreciated was sold in 2025.
2.
Cash dividends were declared and paid during the year.
3.
Common stock was issued in exchange for land.
SUPPO
vestments that cost $35,300 were sold during the year.
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