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Pharoah Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Pharoah Corporation Comparative Balance Sheets December 31 Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total 2025 $17,300 21,400 20,000 $12,000 74,000 2024 29,100 $11,500 72,000 (15,600) (10,600) $115,100 $123,200 23,700 26,600 72,000 $31,600 68,000 23,600 $115,100 $123,200

Pharoah Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Pharoah Corporation Comparative Balance Sheets December 31 Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total 2025 $17,300 21,400 20,000 $12,000 74,000 2024 29,100 $11,500 72,000 (15,600) (10,600) $115,100 $123,200 23,700 26,600 72,000 $31,600 68,000 23,600 $115,100 $123,200

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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Additional information: 1. 2. 3. Net income was $25,000. Dividends declared and paid were $19,500. No noncash investing and financing activities occurred during 2025. The land was sold for cash of $4,400. PHAROAH CORPORATION Statement of Cash Flows - Indirect Method Adjustments to reconcile net income to > $ $ $
Transcribed Image Text:Additional information: 1. 2. 3. Net income was $25,000. Dividends declared and paid were $19,500. No noncash investing and financing activities occurred during 2025. The land was sold for cash of $4,400. PHAROAH CORPORATION Statement of Cash Flows - Indirect Method Adjustments to reconcile net income to > $ $ $
Pharoah Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Pharoah Corporation Comparative Balance Sheets December 31 Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total 2025 $17,300 21,400 20,000 2024 29,100 $11,500 23,700 72,000 (15,600) (10,600) $115,100 $123,200 $115,100 26,600 $12,000 $31,600 74,000 72,000 68,000 23,600 $123,200
Transcribed Image Text:Pharoah Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Pharoah Corporation Comparative Balance Sheets December 31 Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total 2025 $17,300 21,400 20,000 2024 29,100 $11,500 23,700 72,000 (15,600) (10,600) $115,100 $123,200 $115,100 26,600 $12,000 $31,600 74,000 72,000 68,000 23,600 $123,200
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