balances in the company ledgers for the year ending December 31: Mortgage Payable $71,900 Prepaid Insurance $5,500 Short-term investments $800 Common Shares Cash Advertising Accounts Receivable Sales revenue Accounts Payable Buildings (Net) Cost of Goods Sold $14,700 $4,100 $49,800 Land Office salaries Salaries Supplies expense Insurance expense Depreciation expense Income tax expense Dividend Payments Interest Income Inventory $14,900 $597,700 $8,400 $101,000 $298,100 Note Payable (due in 9 months $11,600 Retained Earnings (Beg Bal-Jan 1) $44,300 Interest Expense $10,200 $21,400 $66,000 Sales $99,000 $15,500 $12,400 $19,700 $14,700 $10,000 $16,900 $22,400 Prepare the statement of changes in equity ( list items that increase retained earnings)
balances in the company ledgers for the year ending December 31: Mortgage Payable $71,900 Prepaid Insurance $5,500 Short-term investments $800 Common Shares Cash Advertising Accounts Receivable Sales revenue Accounts Payable Buildings (Net) Cost of Goods Sold $14,700 $4,100 $49,800 Land Office salaries Salaries Supplies expense Insurance expense Depreciation expense Income tax expense Dividend Payments Interest Income Inventory $14,900 $597,700 $8,400 $101,000 $298,100 Note Payable (due in 9 months $11,600 Retained Earnings (Beg Bal-Jan 1) $44,300 Interest Expense $10,200 $21,400 $66,000 Sales $99,000 $15,500 $12,400 $19,700 $14,700 $10,000 $16,900 $22,400 Prepare the statement of changes in equity ( list items that increase retained earnings)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:balances in the company ledgers for the year
ending December 31:
Mortgage Payable $71,900
Prepaid Insurance $5,500
Short-term investments $800
Common Shares
$14,700
Cash
$4,100
$49,800
$14,900
Advertising
Accounts Receivable
Sales revenue
$597,700
Accounts Payable
$8,400
Buildings (Net)
$101,000
Cost of Goods Sold
$298,100
Note Payable (due in 9 months $11,600
Retained Earnings (Beg Bal-Jan 1) $44,300
Interest Expense
$10,200
Land
Office salaries
Salaries
Supplies expense
Insurance expense
Depreciation expense
Income tax expense
Dividend Payments
Interest Income
Inventory
$21,400
$66,000 Sales
$99,000
$15,500
$12,400
$19,700
$14,700
$10,000
$16,900
$22,400
Prepare the statement of changes in equity ( list
items that increase retained earnings)
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