Waterway Corporation's post-closing trial balance at December 31, 2020, is shown as follows. WATERWAY CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2020 Accounts payable Accounts receivable Accumulated depreciation-buildings Additional paid-in capital in excess of par-common From treasury stock Allowance for doubtful accounts Bonds payable Buildings Cash Common stock ($1 par) Dividends payable (preferred stock-cash) Inventory Land Preferred stock ($50 par) Prepaid expenses Retained earnings Treasury stock (common at cost) Totals Dr. $483,000 1,328,000 208,000 582,000 390,000 44,000 169,000 $3,204,000 Cr. $215,200 181,000 1,235,000 163,000 27,000 322,000 192,000 3,800 550,000 315,000 $3,204,000 At December 31, 2020, Waterway had the following number of common and preferred shares.

Waterway Corporation's post-closing trial balance at December 31, 2020, is shown as follows. WATERWAY CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2020 Accounts payable Accounts receivable Accumulated depreciation-buildings Additional paid-in capital in excess of par-common From treasury stock Allowance for doubtful accounts Bonds payable Buildings Cash Common stock ($1 par) Dividends payable (preferred stock-cash) Inventory Land Preferred stock ($50 par) Prepaid expenses Retained earnings Treasury stock (common at cost) Totals Dr. $483,000 1,328,000 208,000 582,000 390,000 44,000 169,000 $3,204,000 Cr. $215,200 181,000 1,235,000 163,000 27,000 322,000 192,000 3,800 550,000 315,000 $3,204,000 At December 31, 2020, Waterway had the following number of common and preferred shares.

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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