
Given Information: Selected
Assets |
2016 ($) |
2017 ($) |
(Increase/Decrease) ($) |
34,000 |
24,000 |
10,000 |
|
Property, plant, and equipment |
277,000 |
247,000 |
30,000 |
(178,000) |
(167,000) |
(11,000) |
Liabilities and stockholders’ equity
Bonds payable |
$49,000 |
$46,000 |
$3,000 |
Dividends payable |
8,000 |
5,000 |
3,000 |
Common stock, $1 par |
22,000 |
19,000 |
3,000 |
Additional paid-in capital |
9,000 |
3,000 |
6,000 |
104,000 |
91,000 |
13,000 |
Selected income statement information for the year ended December 31, 2017
Sales revenue |
$155,000 |
Depreciation |
33,000 |
Gain on sale of equipment |
14,500 |
Net income |
31,000 |
To categorize: To categorize the following items (operating, investing, or financing) and compute the amount to be reported in the statement of
(a) Property, plant, and equipment purchased
(b) Sale of equipment
(c) Cash dividend
(d) Bonds payable redeemed

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Chapter 23 Solutions
Study Guide Intermediate Accounting, Volume 1: Chapters 1 - 14
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