These items are taken from the financial statements of Pina Colada Corp. at December 31, 2025. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2025) Accumulated depreciation-buildings Accounts payable Income taxes payable Bank loan payable (due July 1, 2027) Accumulated depreciation-equipment Interest payable Service revenue $120,600 14,400 5,340 13,500 93,900 69,800 660 228 6,000 2,960 70,700 45,600 52,000 9,580 1,250 106,700 21,340 4,100 16,118

These items are taken from the financial statements of Pina Colada Corp. at December 31, 2025. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2025) Accumulated depreciation-buildings Accounts payable Income taxes payable Bank loan payable (due July 1, 2027) Accumulated depreciation-equipment Interest payable Service revenue $120,600 14,400 5,340 13,500 93,900 69,800 660 228 6,000 2,960 70,700 45,600 52,000 9,580 1,250 106,700 21,340 4,100 16,118

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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