The following items are taken from the financial statements of Blue Spruce Company for the year ending December 31, 2022: Accounts payable $ 17,200 Accounts receivable 7,000 Accumulated depreciation—equipment 5,000 Bonds payable 17,000 Cash 22,000 Common stock 26,400 Cost of goods sold 27,600 Depreciation expense 5,700 Dividends 5,200 Equipment 40,000 Interest expense 2,000 Patents 5,180 Retained earnings, January 1, 2022 5,700 Salaries and wages expense 5,300 Sales revenue 51,500 Supplies 2,820 Net income: $10, 900 Total assets: $72,000 Total liabilites and owners' equity: $72,000
The following items are taken from the financial statements of Blue Spruce Company for the year ending December 31, 2022: Accounts payable $ 17,200 Accounts receivable 7,000 Accumulated depreciation—equipment 5,000 Bonds payable 17,000 Cash 22,000 Common stock 26,400 Cost of goods sold 27,600 Depreciation expense 5,700 Dividends 5,200 Equipment 40,000 Interest expense 2,000 Patents 5,180 Retained earnings, January 1, 2022 5,700 Salaries and wages expense 5,300 Sales revenue 51,500 Supplies 2,820 Net income: $10, 900 Total assets: $72,000 Total liabilites and owners' equity: $72,000
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter24: Analysis Of Financial Statements
Section: Chapter Questions
Problem 6CE
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Question
The following items are taken from the financial statements of Blue Spruce Company for the year ending December 31, 2022:
Accounts payable | $ 17,200 | ||
7,000 | |||
Accumulated |
5,000 | ||
Bonds payable | 17,000 | ||
Cash | 22,000 | ||
Common stock | 26,400 | ||
Cost of goods sold | 27,600 | ||
Depreciation expense | 5,700 | ||
Dividends | 5,200 | ||
Equipment | 40,000 | ||
Interest expense | 2,000 | ||
Patents | 5,180 | ||
5,700 | |||
Salaries and wages expense | 5,300 | ||
Sales revenue | 51,500 | ||
Supplies | 2,820 |
Net income: $10, 900
Total assets: $72,000
Total liabilites and owners' equity: $72,000
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