accounting cycle

Comprehensive Problem 4 Part 2: Note: You must complete part 1 before part 2. After all of the transactions for the year ended December 31, 2048, had been posted [including the transactions recorded in part (1) and all adjusting entries), the data below were taken from the records of Equinox Products Inc. Unless otherwise stated, assume a December 31 balance after adjusting entries. Income statement data: Advertising expense Cost of goods sold Delivery expense Depreciation expense-office buildings and equipment Depreciation expense-store buildings and equipment Income tax expense Interest expense Interest revenue Miscellaneous administrative expense Miscellaneous Seling expense Office rent expense Office salaries expense Office Supplies expense Sales Sales commissions Sales salaries expense Store supplies expense $150,000 3,700,000 30,000 30,000 100,000 140,500 21,000 30,000 7,500 14,000 50,000 170,000 10,000 5.313,000 185,000 385,000 21,000 Check My Work mor Check My Work uses remaining Previous $194,300 545,000 1,580,000 4,126,000 8,450 500,000 282,850 1,700,000 Retained earnings and balance sheet data: Accounts payable Accounts receivable Accumulated depreciation-office buildings and equipment Accumulated depreciation-store buildings and equipment Allowance for doubtful accounts Bonds payable, 5%, due in 10 years Cash Common stock, $20 par (400,000 shares authorized; 85,000 shares issued, 94,600 outstanding), January 1, 20Y8 Dividends: Cash dividends for common stock Cash dividends for preferred stock Goodwill Income tax payable Interest receivable Inventory (December 31, 20Y8), at lower of cost (FIFQ) or market office buildings and equipment Paid-in capital from sale of treasury stock, January 1, 2048 Pald-in capital in excess of par-common stock, January 1, 20Y8 Paid-in capital in excess of par-preferred stock, January 1, 2048 Preferred 5% stock, $80 par (30,000 shares authorized; 16,000 shares issued), January 1, 2048 Premium on bonds payable Prepaid expenses