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Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 2MC: Vorst depreciates Asset A on the double-declining-balance method. How much depreciation expense...
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BLOSSOM PAINTSLID. Adjusted Trial Balance December 31, 2021 Debit Credit Accounts payable $40,419 Accounts receivable $26,200 Accumulated depreciation-equipment 17,982 Accumulated depreciation-building 107,670 Accumulated other comprehensive income (loss)-January 1, 2021 Advertising expense 5,800 Building 314,50 Cash 133,200 Cash dividends-common 11,100 Common shares (13,320 issued) 188,700 Contributed surplus-reacquisition of common shares 5,550 Cost of goods sold 304,880 Depreciation expense 21,460 Dividends payable 740 Equipment 70,300 Gain on sale of equipment 629 Income tax expense Income tax payable Interest expense 3,441 Merchandise inventory 61,760 Office expense 8,140
Transcribed Image Text:BLOSSOM PAINTSLID. Adjusted Trial Balance December 31, 2021 Debit Credit Accounts payable $40,419 Accounts receivable $26,200 Accumulated depreciation-equipment 17,982 Accumulated depreciation-building 107,670 Accumulated other comprehensive income (loss)-January 1, 2021 Advertising expense 5,800 Building 314,50 Cash 133,200 Cash dividends-common 11,100 Common shares (13,320 issued) 188,700 Contributed surplus-reacquisition of common shares 5,550 Cost of goods sold 304,880 Depreciation expense 21,460 Dividends payable 740 Equipment 70,300 Gain on sale of equipment 629 Income tax expense Income tax payable Interest expense 3,441 Merchandise inventory 61,760 Office expense 8,140
Other comprehensive income-holding loss on equity investment (before income tax) 3,996 Retained earnings- January 1, 2021 25,887 Sales 577,200 $964,777 $964,777 BLOSSOM PAINTS LTD. Statement of Comprehensive Income > > > > >
Transcribed Image Text:Other comprehensive income-holding loss on equity investment (before income tax) 3,996 Retained earnings- January 1, 2021 25,887 Sales 577,200 $964,777 $964,777 BLOSSOM PAINTS LTD. Statement of Comprehensive Income > > > > >
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