SPICER COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total Additional information: 1. 2022 $68,000 50,000 151,450 15,280 145,000 200,000 (60,000) 225,000 (45,000) $749,730 $44,730 300,000 200,000 205,000 $749,730 2021 $45,000 58,000 142,000 21,000 130,000 200,000 (40,000) 155,000 (35,000) $676,000 $36,000 300,000 160,000 180,000 $676,000 Operating expenses include depreciation expense of $42,000 ($20,000 of depreciation expense for buildings and $22,000 for equipment).

SPICER COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total Additional information: 1. 2022 $68,000 50,000 151,450 15,280 145,000 200,000 (60,000) 225,000 (45,000) $749,730 $44,730 300,000 200,000 205,000 $749,730 2021 $45,000 58,000 142,000 21,000 130,000 200,000 (40,000) 155,000 (35,000) $676,000 $36,000 300,000 160,000 180,000 $676,000 Operating expenses include depreciation expense of $42,000 ($20,000 of depreciation expense for buildings and $22,000 for equipment).

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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