C11-1 (Algo) Financial Reporting of Depreciation, Write-off, Bond Issuance and Common Stock Issuance, Purchase, Reissuance, and Cash Dividends [Chapters 4, 8, 9, 10, and 11) (LO 4-2, 4-5, 8-2, 9-3, 10-3, 11-2, 11-3] Bender Industries, reported the following account balances on January 1. Accounts Receivable Debit $ 5,000 Credit Accumulated Depreciation $ 30,000 Additional Paid-in Capital 92,000 Allowance for Doubtful 2,000 Accounts Bonds Payable 0 Buildings 249,000 Cash 10,500 Common Stock, 10,000 shares of $1 par 10,000 Notes Payable (long-term) Retained Earnings 10,500 120,000 Treasury Stock TOTALS 0 $ $ 264,500 264,500 The company entered into the following transactions during the year. January 15 Issued 6,000 shares of $1 par common stock for $52,000 cash. January 31 Collected $3,000 from customers on account. February 15 Reacquired 3,020 shares of $1 par common stock into treasury for $33,220 cash. March 15 Reissued 2,020 shares of treasury stock for $24,220 cash. August 15 Reissued 600 shares of treasury stock for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. October 1 Issued 100, 10-year, $1,020 bonds, at a quoted bond price of 101. October 3 Wrote off a $1,500 balance due from a customer who went bankrupt. December 29 Recorded $232,000 of service revenue, all of which was collected in cash. December 30 Paid $202,000 cash for this year's wages through December 31. (Ignore payroll taxes and payroll deductions.) December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.) Require... General General Trial Journal Ledger Balance Balance Sheet Debt to Assets Use the dropdowns to select the accounts properly included on the classified balance sheet. However, you will need to enter the amount of Retained earnings. At the end of the year, the adjusted net income was $20,000. BENDER INDUSTRIES Classified Balance Sheet At December 31 Show lessA
C11-1 (Algo) Financial Reporting of Depreciation, Write-off, Bond Issuance and Common Stock Issuance, Purchase, Reissuance, and Cash Dividends [Chapters 4, 8, 9, 10, and 11) (LO 4-2, 4-5, 8-2, 9-3, 10-3, 11-2, 11-3] Bender Industries, reported the following account balances on January 1. Accounts Receivable Debit $ 5,000 Credit Accumulated Depreciation $ 30,000 Additional Paid-in Capital 92,000 Allowance for Doubtful 2,000 Accounts Bonds Payable 0 Buildings 249,000 Cash 10,500 Common Stock, 10,000 shares of $1 par 10,000 Notes Payable (long-term) Retained Earnings 10,500 120,000 Treasury Stock TOTALS 0 $ $ 264,500 264,500 The company entered into the following transactions during the year. January 15 Issued 6,000 shares of $1 par common stock for $52,000 cash. January 31 Collected $3,000 from customers on account. February 15 Reacquired 3,020 shares of $1 par common stock into treasury for $33,220 cash. March 15 Reissued 2,020 shares of treasury stock for $24,220 cash. August 15 Reissued 600 shares of treasury stock for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. October 1 Issued 100, 10-year, $1,020 bonds, at a quoted bond price of 101. October 3 Wrote off a $1,500 balance due from a customer who went bankrupt. December 29 Recorded $232,000 of service revenue, all of which was collected in cash. December 30 Paid $202,000 cash for this year's wages through December 31. (Ignore payroll taxes and payroll deductions.) December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.) Require... General General Trial Journal Ledger Balance Balance Sheet Debt to Assets Use the dropdowns to select the accounts properly included on the classified balance sheet. However, you will need to enter the amount of Retained earnings. At the end of the year, the adjusted net income was $20,000. BENDER INDUSTRIES Classified Balance Sheet At December 31 Show lessA
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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![C11-1 (Algo) Financial Reporting of Depreciation, Write-off, Bond Issuance and Common Stock Issuance,
Purchase, Reissuance, and Cash Dividends [Chapters 4, 8, 9, 10, and 11) (LO 4-2, 4-5, 8-2, 9-3, 10-3, 11-2,
11-3]
Bender Industries, reported the following account balances on January 1.
Accounts Receivable
Debit
$ 5,000
Credit
Accumulated Depreciation
$
30,000
Additional Paid-in Capital
92,000
Allowance for Doubtful
2,000
Accounts
Bonds Payable
0
Buildings
249,000
Cash
10,500
Common Stock, 10,000 shares
of $1 par
10,000
Notes Payable (long-term)
Retained Earnings
10,500
120,000
Treasury Stock
TOTALS
0
$
$
264,500
264,500
The company entered into the following transactions during the year.
January 15 Issued 6,000 shares of $1 par common stock for $52,000 cash.
January 31 Collected $3,000 from customers on account.
February 15 Reacquired 3,020 shares of $1 par common stock into treasury for $33,220
cash.
March 15 Reissued 2,020 shares of treasury stock for $24,220 cash.
August 15 Reissued 600 shares of treasury stock for $4,600 cash.
September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding
share of common stock.
October 1 Issued 100, 10-year, $1,020 bonds, at a quoted bond price of 101.
October 3 Wrote off a $1,500 balance due from a customer who went bankrupt.
December 29 Recorded $232,000 of service revenue, all of which was collected in cash.
December 30 Paid $202,000 cash for this year's wages through December 31. (Ignore
payroll taxes and payroll deductions.)
December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore
accrual adjustments for interest and income taxes.)
Require...
General General Trial
Journal Ledger Balance
Balance
Sheet
Debt to
Assets
Use the dropdowns to select the accounts properly included on the classified balance sheet.
However, you will need to enter the amount of Retained earnings. At the end of the year,
the adjusted net income was $20,000.
BENDER INDUSTRIES
Classified Balance Sheet
At December 31
Show lessA](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feb8d9364-6f3b-487d-ae93-eb2b4d1f4205%2Fb1fe7d3c-ca05-4d6e-b434-904a19e5d74c%2Ffj8ty6e_processed.jpeg&w=3840&q=75)
Transcribed Image Text:C11-1 (Algo) Financial Reporting of Depreciation, Write-off, Bond Issuance and Common Stock Issuance,
Purchase, Reissuance, and Cash Dividends [Chapters 4, 8, 9, 10, and 11) (LO 4-2, 4-5, 8-2, 9-3, 10-3, 11-2,
11-3]
Bender Industries, reported the following account balances on January 1.
Accounts Receivable
Debit
$ 5,000
Credit
Accumulated Depreciation
$
30,000
Additional Paid-in Capital
92,000
Allowance for Doubtful
2,000
Accounts
Bonds Payable
0
Buildings
249,000
Cash
10,500
Common Stock, 10,000 shares
of $1 par
10,000
Notes Payable (long-term)
Retained Earnings
10,500
120,000
Treasury Stock
TOTALS
0
$
$
264,500
264,500
The company entered into the following transactions during the year.
January 15 Issued 6,000 shares of $1 par common stock for $52,000 cash.
January 31 Collected $3,000 from customers on account.
February 15 Reacquired 3,020 shares of $1 par common stock into treasury for $33,220
cash.
March 15 Reissued 2,020 shares of treasury stock for $24,220 cash.
August 15 Reissued 600 shares of treasury stock for $4,600 cash.
September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding
share of common stock.
October 1 Issued 100, 10-year, $1,020 bonds, at a quoted bond price of 101.
October 3 Wrote off a $1,500 balance due from a customer who went bankrupt.
December 29 Recorded $232,000 of service revenue, all of which was collected in cash.
December 30 Paid $202,000 cash for this year's wages through December 31. (Ignore
payroll taxes and payroll deductions.)
December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore
accrual adjustments for interest and income taxes.)
Require...
General General Trial
Journal Ledger Balance
Balance
Sheet
Debt to
Assets
Use the dropdowns to select the accounts properly included on the classified balance sheet.
However, you will need to enter the amount of Retained earnings. At the end of the year,
the adjusted net income was $20,000.
BENDER INDUSTRIES
Classified Balance Sheet
At December 31
Show lessA
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