2:25 O 令l 30% The following accounts are extracted from the books of X Inc. on December 31, 202O: Account Receivable S60,000 Accounts Payable 75,000 Accumulated Depreciation: Land Improvement 160,000 Allowance for Doubtful Accounts 26,000 Accrued Liabilities 204,000 Bonds Payable 373,000 Bond Sinking Fund 220,000 Cash 140,000 Investment in Stock 132,000 Common Stock 414,000 Goodwill ?? Inventory 322,000 Land 260,000 Land held for speculation 88,000 Land Improvement 700,000 Mortgage Payable 176,000 Premium on Bonds Payable 36,000 Premium on Common Stock 276,000 Prepaid Insurance (24 months) 40,000 Retained Eamings 440,000 Supplies 16,000 Trading Sccurities, originally purchased at $70,000, are traded at a fair value of S88,000 Treasury Stock ??

2:25 O 令l 30% The following accounts are extracted from the books of X Inc. on December 31, 202O: Account Receivable S60,000 Accounts Payable 75,000 Accumulated Depreciation: Land Improvement 160,000 Allowance for Doubtful Accounts 26,000 Accrued Liabilities 204,000 Bonds Payable 373,000 Bond Sinking Fund 220,000 Cash 140,000 Investment in Stock 132,000 Common Stock 414,000 Goodwill ?? Inventory 322,000 Land 260,000 Land held for speculation 88,000 Land Improvement 700,000 Mortgage Payable 176,000 Premium on Bonds Payable 36,000 Premium on Common Stock 276,000 Prepaid Insurance (24 months) 40,000 Retained Eamings 440,000 Supplies 16,000 Trading Sccurities, originally purchased at $70,000, are traded at a fair value of S88,000 Treasury Stock ??

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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ACCT 102
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