XYZ Company's accounting records reported the following account balances as of December 31, 2024: Supplies Common stock Sales revenue Building ****.. Accounts payable Trademark Accumulated depreciation Insurance expense Cash Salaries payable Land .... **** .... Dividends Rental revenue Advertising expense Accounts receivable Retained earnings Salaries expense Inventory Patent Interest revenue Equipment .... ... .. Notes payable Cost of goods sold ... $18,000 $73,000 $92,000 $56,000 $11,000 $34,000 $59,000 $21,000 ? $44,000 $17,000 $76,000 $22,000 ? $30,000 (at Jan. 1, 2024) $41,000 $26,000 $37,000 $51,000 $29,000 $84,000 $49,000 Additional information: 1) The total current assets at December 31, 2024 were equal to $134,000. 2) The total P-P-E at December 31, 2024 was equal to $107,000. Calculate the balance in the building account at December 31, 2024.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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XYZ Company's accounting records reported the following
account balances as of December 31, 2024:
Supplies
Common stock
Sales revenue
Building
Accounts payable
Trademark
Accumulated depreciation
Insurance expense
.....
Cash
Salaries payable
Land
.....
Dividends
Rental revenue
..
Advertising expense
Accounts receivable
Retained earnings
Salaries expense
Inventory
Patent
Interest revenue
Equipment
...
...
Notes payable
***
Cost of goods sold:
$18,000
$73,000
$92,000
?
$56,000
$11,000
$34,000
$59,000
$21,000
?
$44,000
$17,000
$76,000
$22,000
$30,000 (at Jan. 1, 2024)
$41,000
$26,000
$37,000
$51,000
$29,000
$84,000
$49,000
Additional information:
1) The total current assets at December 31, 2024 were
equal to $134,000.
2) The total P-P-E at December 31, 2024 was equal to
$107,000.
Calculate the balance in the building account at
December 31, 2024.
Transcribed Image Text:XYZ Company's accounting records reported the following account balances as of December 31, 2024: Supplies Common stock Sales revenue Building Accounts payable Trademark Accumulated depreciation Insurance expense ..... Cash Salaries payable Land ..... Dividends Rental revenue .. Advertising expense Accounts receivable Retained earnings Salaries expense Inventory Patent Interest revenue Equipment ... ... Notes payable *** Cost of goods sold: $18,000 $73,000 $92,000 ? $56,000 $11,000 $34,000 $59,000 $21,000 ? $44,000 $17,000 $76,000 $22,000 $30,000 (at Jan. 1, 2024) $41,000 $26,000 $37,000 $51,000 $29,000 $84,000 $49,000 Additional information: 1) The total current assets at December 31, 2024 were equal to $134,000. 2) The total P-P-E at December 31, 2024 was equal to $107,000. Calculate the balance in the building account at December 31, 2024.
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