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Carla Corporation's balance sheet at the end of 2024 included the following items. Current assets (Cash $82,000) Land Buildings Equipment Accum. depr-buildings Accum, depr-equipment Patents Total 1. 4. 5. 6. The following information is available for 2025. 7. 8. $236,420 9. 32,610 10. 121,420 92,610 (31,420) (11.000) 41,420 $482,060 Current liabilities Bonds payable Common stock Retained earnings Net income was $60,370. 2 Equipment (cost $21,420 and accumulated depreciation $9,420) was sold for $11.420. 3. Depreciation expense was $5,420 on the building and $10,420 on equipment. Patent amortization was $2,500. Total $151,420 101,420 182,610 46,610 $482,060 Current assets other than cash increased by $29,000. Current liabilities increased by $14,420. An addition to the building was completed at a cost of $28,420. A long-term investment in stock was purchased for $16,000. Bonds payable of $52.610 were issued. Cash dividends of $30.000 were declared and paid. Treasury stock was purchased at a cost of $11.000.

Carla Corporation's balance sheet at the end of 2024 included the following items. Current assets (Cash $82,000) Land Buildings Equipment Accum. depr-buildings Accum, depr-equipment Patents Total 1. 4. 5. 6. The following information is available for 2025. 7. 8. $236,420 9. 32,610 10. 121,420 92,610 (31,420) (11.000) 41,420 $482,060 Current liabilities Bonds payable Common stock Retained earnings Net income was $60,370. 2 Equipment (cost $21,420 and accumulated depreciation $9,420) was sold for $11.420. 3. Depreciation expense was $5,420 on the building and $10,420 on equipment. Patent amortization was $2,500. Total $151,420 101,420 182,610 46,610 $482,060 Current assets other than cash increased by $29,000. Current liabilities increased by $14,420. An addition to the building was completed at a cost of $28,420. A long-term investment in stock was purchased for $16,000. Bonds payable of $52.610 were issued. Cash dividends of $30.000 were declared and paid. Treasury stock was purchased at a cost of $11.000.

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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Carla Corporation's balance sheet at the end of 2024 included the following items. Current assets (Cash $82,000) Land Buildings Equipment Accum. depr-buildings Accum. depr-equipment Patents Total 1. 2 3. The following information is available for 2025. 4. 5. 6. 7. 8. 9. $236,420 10. 32,610 121,420 92,610 (31,420) (11.000) 41,420 $482,060 Current liabilities Bonds payable Common stock Retained earnings Total $151,420 101,420 182,610 46,610 $482,060 Net income was $60,370. Equipment (cost $21,420 and accumulated depreciation $9,420) was sold for $11,420. Depreciation expense was $5,420 on the building and $10,420 on equipment. Patent amortization was $2,500. Current assets other than cash increased by $29,000. Current liabilities increased by $14,420. An addition to the building was completed at a cost of $28,420. A long-term investment in stock was purchased for $16,000. Bonds payable of $52.610 were issued. Cash dividends of $30,000 were declared and paid. Treasury stock was purchased at a cost of $11,000.
Transcribed Image Text:Carla Corporation's balance sheet at the end of 2024 included the following items. Current assets (Cash $82,000) Land Buildings Equipment Accum. depr-buildings Accum. depr-equipment Patents Total 1. 2 3. The following information is available for 2025. 4. 5. 6. 7. 8. 9. $236,420 10. 32,610 121,420 92,610 (31,420) (11.000) 41,420 $482,060 Current liabilities Bonds payable Common stock Retained earnings Total $151,420 101,420 182,610 46,610 $482,060 Net income was $60,370. Equipment (cost $21,420 and accumulated depreciation $9,420) was sold for $11,420. Depreciation expense was $5,420 on the building and $10,420 on equipment. Patent amortization was $2,500. Current assets other than cash increased by $29,000. Current liabilities increased by $14,420. An addition to the building was completed at a cost of $28,420. A long-term investment in stock was purchased for $16,000. Bonds payable of $52.610 were issued. Cash dividends of $30,000 were declared and paid. Treasury stock was purchased at a cost of $11,000.
7 vongjodien que eTextbook and Media. List of Accounts and Equipment |||| 110 Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity
Transcribed Image Text:7 vongjodien que eTextbook and Media. List of Accounts and Equipment |||| 110 Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity
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