c. Receipt from sale of common stock, S12,300 a. Net income, $68,000 b. Increase in accounts receivable, $4,400 oppright 200 Cengage Leuning. All Rights Reservad. May t be copiod, samod, or duplicated, in whede or in purt. Due to clectnunic rights, ome third party content may be suppressed from the cBook andie eChapteris). ial reviee has doemed that any wappreed content does net mterially affect the overall learning esperience. Cenpage Laming roerves the right in remove additimal content at any time if vabuapami righs nestricicen noquire it. Problems 5-75 d. Depreciation expense, $11,300 e. Dividends paid, $24,500 f. Payment for purchase of building, $65,000 g. Bond discount amortization, $2,700 h. Receipt from sale of long-term invest- j. Rececipt from sale of preferred stock, $20,000 k. Increase in income taxes payable, $3,500 1. Payment for purchase of land, $9,700 m. Decrease in accounts payable, $2,900 Increase in inventories, $10,300 o. Beginning cash balance, $18,000 n. ments at cost, $10,600 i. Payment for purchase of equipment, $8,000

c. Receipt from sale of common stock, S12,300 a. Net income, $68,000 b. Increase in accounts receivable, $4,400 oppright 200 Cengage Leuning. All Rights Reservad. May t be copiod, samod, or duplicated, in whede or in purt. Due to clectnunic rights, ome third party content may be suppressed from the cBook andie eChapteris). ial reviee has doemed that any wappreed content does net mterially affect the overall learning esperience. Cenpage Laming roerves the right in remove additimal content at any time if vabuapami righs nestricicen noquire it. Problems 5-75 d. Depreciation expense, $11,300 e. Dividends paid, $24,500 f. Payment for purchase of building, $65,000 g. Bond discount amortization, $2,700 h. Receipt from sale of long-term invest- j. Rececipt from sale of preferred stock, $20,000 k. Increase in income taxes payable, $3,500 1. Payment for purchase of land, $9,700 m. Decrease in accounts payable, $2,900 Increase in inventories, $10,300 o. Beginning cash balance, $18,000 n. ments at cost, $10,600 i. Payment for purchase of equipment, $8,000

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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