Cash $200 Accounts Receivable $300 Allowance for Doubtful Accounts $50 Inventory $350 Prepaid Insurance $70 Property, Plant & Equipment $400 Accumulated Depreciation Patents $100 200 Accounts Payable $100 Unearned Revenue $90 Accrued Liabilities $30 Notes Payable $200 Discount on Notes Payable $30 Bonds Payable (Long-Term) $100 Premium on Bonds Payable $20 Dividends Declared $20 Common Stock $150 Retained Earnings $525 Sales $540 Interest Revenue $100 Cost of Goods Sold $200 Environmental Expense $80 Utilities Expense $60 Salaries Expense $90 Amortization Expense - Patents $5 Depreciation Expense $10 Loss on Sale of Land $40 Gain on Sale of Equipment $50

Cash $200 Accounts Receivable $300 Allowance for Doubtful Accounts $50 Inventory $350 Prepaid Insurance $70 Property, Plant & Equipment $400 Accumulated Depreciation Patents $100 200 Accounts Payable $100 Unearned Revenue $90 Accrued Liabilities $30 Notes Payable $200 Discount on Notes Payable $30 Bonds Payable (Long-Term) $100 Premium on Bonds Payable $20 Dividends Declared $20 Common Stock $150 Retained Earnings $525 Sales $540 Interest Revenue $100 Cost of Goods Sold $200 Environmental Expense $80 Utilities Expense $60 Salaries Expense $90 Amortization Expense - Patents $5 Depreciation Expense $10 Loss on Sale of Land $40 Gain on Sale of Equipment $50

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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