Loan from bank 28, Cash 452, Wages payable 5, Inventory 106, Accumulated depreciation 225, PP&E (Gross)...
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Loan from bank 28, Cash 452, Wages payable 5, Inventory 106, Accumulated depreciation 225, PP&E (Gross) 610, Retained earnings 490, Interest payable 8, Accounts receivable 210, Rent payable 7, Dividend payable 15, Paid in capital 500, Accounts payable (?) During 2023 the following transactions occurred: 1. Depreciation expense was $100. 2. 3. 4. 5. 6. 7. 8. 9. Purchases were $800, and the ending balance of Accounts payable in 2023 was $50. The dividend payable was paid in full. No new dividend was declared. An insurance policy for 2023, in the amount of $60, was purchased and paid in full. Credit sales (of goods that cost $900) were $1,350, and collections from customers were $1,410. Triathlon issued 100 shares of common stock for $400. The CEO of Triathlon gave two tickets to the 2024 Olympics Triathlon Competition to a "friend." They received, to their personal account, $2,500 in cash. The employees of Triathlon earned $80 during the year. Cash payments to the employees were $77. A machine that cost $100 and that had an accumulated depreciation of $40 was sold for its net book value, $60, cash. Loan from bank 28, Cash 452, Wages payable 5, Inventory 106, Accumulated depreciation 225, PP&E (Gross) 610, Retained earnings 490, Interest payable 8, Accounts receivable 210, Rent payable 7, Dividend payable 15, Paid in capital 500, Accounts payable (?) During 2023 the following transactions occurred: 1. Depreciation expense was $100. 2. 3. 4. 5. 6. 7. 8. 9. Purchases were $800, and the ending balance of Accounts payable in 2023 was $50. The dividend payable was paid in full. No new dividend was declared. An insurance policy for 2023, in the amount of $60, was purchased and paid in full. Credit sales (of goods that cost $900) were $1,350, and collections from customers were $1,410. Triathlon issued 100 shares of common stock for $400. The CEO of Triathlon gave two tickets to the 2024 Olympics Triathlon Competition to a "friend." They received, to their personal account, $2,500 in cash. The employees of Triathlon earned $80 during the year. Cash payments to the employees were $77. A machine that cost $100 and that had an accumulated depreciation of $40 was sold for its net book value, $60, cash.
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Related Book For
Interpreting and Analyzing Financial Statements
ISBN: 978-0132746243
6th edition
Authors: Karen P. Schoenebeck, Mark P. Holtzman
Posted Date:
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