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Business
Accounting
Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales $84,640 10,080 3,744 9,472 65,920 48.960 464 160 4,240 2,080 49.600 32,000 36,480 6,720 880 74,880 14,976 2.880 11,344

Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales $84,640 10,080 3,744 9,472 65,920 48.960 464 160 4,240 2,080 49.600 32,000 36,480 6,720 880 74,880 14,976 2.880 11,344

FINANCIAL ACCOUNTING
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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Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales (a) (b) $84.640 10,080 3,744 9,472 65,920 48,960 464 160 4,240 2,080 49,600 32,000 36,480 6,720 880 74,880 14,976 2,880 11.344 Prepare a classified statement of financial position. Assume that $10,880 of the bank loan payable will be paid in 2019. (List Property, plant and equipment in order of land, buildings and equipment. List Current Assets in order of liquidity.) BLUE SPRUCE CORP. Statement of Financial Position
Transcribed Image Text:Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales (a) (b) $84.640 10,080 3,744 9,472 65,920 48,960 464 160 4,240 2,080 49,600 32,000 36,480 6,720 880 74,880 14,976 2,880 11.344 Prepare a classified statement of financial position. Assume that $10,880 of the bank loan payable will be paid in 2019. (List Property, plant and equipment in order of land, buildings and equipment. List Current Assets in order of liquidity.) BLUE SPRUCE CORP. Statement of Financial Position
Prepare a classified statement of financial position. Assume that $10,880 of the bank loan payable will be paid in 2019. (List Property, plant and equipment in order of land, buildings BLUE SPRUCE CORP. Statement of Financial Position ▼: ▼: $ $ Assets Liabilities and Shareholders' Equity $ $ $ [1] $ $ $
Transcribed Image Text:Prepare a classified statement of financial position. Assume that $10,880 of the bank loan payable will be paid in 2019. (List Property, plant and equipment in order of land, buildings BLUE SPRUCE CORP. Statement of Financial Position ▼: ▼: $ $ Assets Liabilities and Shareholders' Equity $ $ $ [1] $ $ $
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