Show less Chapter 10 Homework Problems i 3 Saved The following account balances are for the Agee Company as of January 1, 2024, and December

 

 
 

Chapter 10 Homework Problems i 3 Saved The following account balances are for the Agee Company as of January 1, 2024, and December 31, 2024. All amounts are denominated in kroner (Kr). January 1, December 31, 25 25 2024 2024 points Accounts payable (18,000) (32,500) Accounts receivable 51,000 101,000 Accumulated depreciation-buildings (42,000) (47,000) Accumulated depreciation-equipment 0 (7,200) Bonds payable-due 2027 (61,000) (61,000) Buildings 131,000 eBook Cash 57,000 103,500 10,200 Common stock (66,000) (76,000) Depreciation expense 0 37,000 Dividends (10/1/24) 0 54,000 Print Equipment 0 61,000 Gain on sale of building 0 (8,200) Rent expense 0 20,700 Retained earnings (52,000) (52,000) References Sales Salary expense 0 42,000 0 (151,000) Utilities expense 0 5,500 Additional Information Mc Graw Hill Agee issued additional shares of common stock during the year on April 1, 2024. Common stock on January 1, 2024, was sold at the start of operations in 2017. Agee purchased buildings in 2018 and sold one building with a book value of Kr 2,700 on July 1 of the current year. Equipment was acquired on April 1, 2024. Relevant exchange rates for 1 Kr were as follows: 2017 $ 2.75 2018 2.55 January 1, 2024 2.85 April 1, 2024 2.95 July 1, 2024 3.15 October 1, 2024 3.25 December 31, 2024 3.35 Average for 2024 3.05 Required: < Prev 3 of 3 Next > Help Save & Exit Submit Check my work