Mortgage Payable Prepaid Insurance Short-term investments Common Shares Cash Advertising Accounts Receivable Sales revenue Accounts Payable Buildings (Net) Cost of Goods Sold Note Payable (due in 9 months) Retained Earnings (Beg Bal-Jan 1) $84,700 $3,900 $3,900 $10,000 $29,900 $45,200 $16,200 $604,300 $13,500 $95,500 $295,800 $5,400 $41,900 Interest Expense Land Office salaries Sales Salaries Supplies expense Insurance expense Depreciation expense Income tax expense Dividend Payments Interest Income Inventory $9,400 $23,700 $69,600 $96,800 $24,000 $12,400 $17,000 $5,000 $5,900 $15,700 $21,300

Mortgage Payable Prepaid Insurance Short-term investments Common Shares Cash Advertising Accounts Receivable Sales revenue Accounts Payable Buildings (Net) Cost of Goods Sold Note Payable (due in 9 months) Retained Earnings (Beg Bal-Jan 1) $84,700 $3,900 $3,900 $10,000 $29,900 $45,200 $16,200 $604,300 $13,500 $95,500 $295,800 $5,400 $41,900 Interest Expense Land Office salaries Sales Salaries Supplies expense Insurance expense Depreciation expense Income tax expense Dividend Payments Interest Income Inventory $9,400 $23,700 $69,600 $96,800 $24,000 $12,400 $17,000 $5,000 $5,900 $15,700 $21,300

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 75E

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