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 39,700 25,100 Land 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: Equipment that cost $10,000 and was 60% depreciated was sold in 2025. Cash dividends were declared and paid during the year. 1. 2. 3. Common stock was issued in exchange for land. that cost $35,300 were sold during the year. Π SUPPC
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 39,700 25,100 Land 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: Equipment that cost $10,000 and was 60% depreciated was sold in 2025. Cash dividends were declared and paid during the year. 1. 2. 3. Common stock was issued in exchange for land. that cost $35,300 were sold during the year. Π SUPPC
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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