The account balances for Premera Blue Cross are listed below. All balances are as of December 31, 2023, except where noted otherwise. Accounts Payable Accounts Receivable Wages Payable Prepaid Expenses Dividends Sales Revenue Notes Payable (due 4/30/24) Cost of Goods Sold Loss on Sale of Equipment $5,500 9,600 2,600 1,200 2,000 109,750 1,000 52,800 3,500 9,500 3,000 2,000 Inventory Advertising Expense Insurance Expense Determine Income from Operations as of December 31, 2023: $45,950 $32,000 $41,500 $56,950 $35,500 Rent Expense Equipment Furniture Notes Payable (due 12/31/25) Accumulated Depreciation Cash Common Stock Goodwill Retained Earnings (1/1/23) Marketable Equity Securities Depreciation Expense Unearned Revenue $6,000 82,500 22,000 35,000 10,450 26,000 20,000 50,000 14,150 400 10,450 4,200

The account balances for Premera Blue Cross are listed below. All balances are as of December 31, 2023, except where noted otherwise. Accounts Payable Accounts Receivable Wages Payable Prepaid Expenses Dividends Sales Revenue Notes Payable (due 4/30/24) Cost of Goods Sold Loss on Sale of Equipment $5,500 9,600 2,600 1,200 2,000 109,750 1,000 52,800 3,500 9,500 3,000 2,000 Inventory Advertising Expense Insurance Expense Determine Income from Operations as of December 31, 2023: $45,950 $32,000 $41,500 $56,950 $35,500 Rent Expense Equipment Furniture Notes Payable (due 12/31/25) Accumulated Depreciation Cash Common Stock Goodwill Retained Earnings (1/1/23) Marketable Equity Securities Depreciation Expense Unearned Revenue $6,000 82,500 22,000 35,000 10,450 26,000 20,000 50,000 14,150 400 10,450 4,200

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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