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use problem 11 not the first top paragraph

11. Comprehensi This problem is a contin The account balances as at December 31, 2018 a $13,750; Land $40.000; Accounts payable $0; Lon Prepaid rent $3,150; Equipment $55,000; Accum $602.900; Accounts receivable $10,000; Merchandi $200.000: Common shares $440,000; and Retained The following transactions and events occu 1 Issued $50,000 of 5% preferred share 1 Sold the equipment at its written down 1 Acquired new equipment for $150,0 equipment has an estimated useful life 1 Purchased inventory for $80,000 Jan. Jan. for cash Jan. expected residual value. Apr. suppliers. July 1 Paid rent in advance of $3,200 on a si- Aug. 1 Made cash sales of $150,000. There Sept. 1 Purchased additional land for cash a Oct. 31 All remaining accounts receivable we sold was $65,000. Dec. 30 Various operating expenses totalled $ in cash except for $5,000 for utilities, January Dec. 31 Paid the annual dividend on the prefe cent dividend per common share. Dec. 31 Paid the interest on the bank loan. Dec. 31 Recorded depreciation for the new Dec. 31 Recorded rent expense for 2019. Dec. 31 Paid cash of $3,800 for income taxe equired 3) Using the transactions-based approach (ta the above transactions and events for 201 11. Comprehensi This problem is a contin The account balances as at December 31, 2018 a $13,750; Land $40.000; Accounts payable $0; Lon Prepaid rent $3,150; Equipment $55,000; Accum $602.900; Accounts receivable $10,000; Merchandi $200.000: Common shares $440,000; and Retained The following transactions and events occu 1 Issued $50,000 of 5% preferred share 1 Sold the equipment at its written down 1 Acquired new equipment for $150,0 equipment has an estimated useful life 1 Purchased inventory for $80,000 Jan. Jan. for cash Jan. expected residual value. Apr. suppliers. July 1 Paid rent in advance of $3,200 on a si- Aug. 1 Made cash sales of $150,000. There Sept. 1 Purchased additional land for cash a Oct. 31 All remaining accounts receivable we sold was $65,000. Dec. 30 Various operating expenses totalled $ in cash except for $5,000 for utilities, January Dec. 31 Paid the annual dividend on the prefe cent dividend per common share. Dec. 31 Paid the interest on the bank loan. Dec. 31 Recorded depreciation for the new Dec. 31 Recorded rent expense for 2019. Dec. 31 Paid cash of $3,800 for income taxe equired 3) Using the transactions-based approach (ta the above transactions and events for 201