Required information [The following information applies to the questions displayed below.] Doyle Company issued $440,000 of 10-year, 6 percent bonds on January 1, 2018. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $53,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, 2018. eBook Ask Print Required a. Organize the transaction data in accounting equation for 2018 and 2019. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.) DOYLE COMPANY Effect of Events on the Accounting Equation 2018 and 2019 Stockholders' Assets = Liabilities + Equity Accounts Titles for Event Bonds Retained Retained Earnings Cash Land Payable Earnings 2018 1/1 1/1 12/31 12/31 Bal. 2019 Doyle Company issued $440,000 of 10-year, 6 percent bonds on January 1, 2018. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $53,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, 2018. eBook Ask Required a. Organize the transaction data in accounting equation for 2018 and 2019. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.) Print DOYLE COMPANY Effect of Events on the Accounting Equation 2018 and 2019 Stockholders' Assets = Liabilities + Equity Accounts Titles for Event Retained Earnings Bonds Payable Retained Cash Land Earnings 2018 1/1 =| 1/1 12/31 12/31 Bal. 2019 Beg. bal. 12/31 12/31 End. bal.
Required information [The following information applies to the questions displayed below.] Doyle Company issued $440,000 of 10-year, 6 percent bonds on January 1, 2018. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $53,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, 2018. eBook Ask Print Required a. Organize the transaction data in accounting equation for 2018 and 2019. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.) DOYLE COMPANY Effect of Events on the Accounting Equation 2018 and 2019 Stockholders' Assets = Liabilities + Equity Accounts Titles for Event Bonds Retained Retained Earnings Cash Land Payable Earnings 2018 1/1 1/1 12/31 12/31 Bal. 2019 Doyle Company issued $440,000 of 10-year, 6 percent bonds on January 1, 2018. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $53,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, 2018. eBook Ask Required a. Organize the transaction data in accounting equation for 2018 and 2019. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.) Print DOYLE COMPANY Effect of Events on the Accounting Equation 2018 and 2019 Stockholders' Assets = Liabilities + Equity Accounts Titles for Event Retained Earnings Bonds Payable Retained Cash Land Earnings 2018 1/1 =| 1/1 12/31 12/31 Bal. 2019 Beg. bal. 12/31 12/31 End. bal.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
[The following information applies to the questions displayed below.]
Doyle Company issued $440,000 of 10-year, 6 percent bonds on January 1, 2018. The bonds were issued at face value.
Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in
land. The land was leased for an annual $53,000 of cash revenue, which was collected on December 31 of each year,
beginning December 31, 2018.
eBook
Ask
Print
Required
a. Organize the transaction data in accounting equation for 2018 and 2019. (Enter any decreases to account balances with a minus
sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.)
DOYLE COMPANY
Effect of Events on the Accounting Equation
2018 and 2019
Stockholders'
Assets
= Liabilities +
Equity
Accounts Titles for
Event
Bonds
Retained
Retained Earnings
Cash
Land
Payable
Earnings
2018
1/1
1/1
12/31
12/31
Bal.
2019](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffb190ee3-c98f-4a78-bbc6-ee0a962b56ef%2F096399e5-7d1a-4d7d-a29e-74fe29eb7328%2Fb17dsp.png&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Doyle Company issued $440,000 of 10-year, 6 percent bonds on January 1, 2018. The bonds were issued at face value.
Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in
land. The land was leased for an annual $53,000 of cash revenue, which was collected on December 31 of each year,
beginning December 31, 2018.
eBook
Ask
Print
Required
a. Organize the transaction data in accounting equation for 2018 and 2019. (Enter any decreases to account balances with a minus
sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.)
DOYLE COMPANY
Effect of Events on the Accounting Equation
2018 and 2019
Stockholders'
Assets
= Liabilities +
Equity
Accounts Titles for
Event
Bonds
Retained
Retained Earnings
Cash
Land
Payable
Earnings
2018
1/1
1/1
12/31
12/31
Bal.
2019
Transcribed Image Text:Doyle Company issued $440,000 of 10-year, 6 percent bonds on January 1, 2018. The bonds were issued at face value.
Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in
land. The land was leased for an annual $53,000 of cash revenue, which was collected on December 31 of each year,
beginning December 31, 2018.
eBook
Ask
Required
a. Organize the transaction data in accounting equation for 2018 and 2019. (Enter any decreases to account balances with a minus
sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.)
Print
DOYLE COMPANY
Effect of Events on the Accounting Equation
2018 and 2019
Stockholders'
Assets
= Liabilities +
Equity
Accounts Titles for
Event
Retained Earnings
Bonds
Payable
Retained
Cash
Land
Earnings
2018
1/1
=|
1/1
12/31
12/31
Bal.
2019
Beg. bal.
12/31
12/31
End. bal.
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