Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Chapter 21, Problem 21E
(Appendix 21.1) Visual Inspection The following changes in account balances were taken from Walson Company’s adjusted
In addition, the following information was obtained from the company’s records:
- Land was sold, at cost, for $1,900.
- Dividends of $4,000 were declared and paid.
- Equipment was purchased for $10,400.
- Common stock was issued for $9,000.
- Beginning cash balance was $17,000.
Required:
Using visual inspection and the direct method, prepare Walson’s 2019 statement of
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Intermediate Accounting: Reporting And Analysis
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