C11-1 (Algo) Financial Reporting of Depreciation, Write-off, Bond Issuance and Common Stock Issuance, Purchase, Reissuance, and Cash Dividends [Chapters 4, 8, 9, 10, and 11) (LO 4-2, 4-5, 8-2, 9-3, 10-3, 11-2, 11-3] Bender Industries, reported the following account balances on January 1. Accounts Receivable Debit $ 5,000 Credit Accumulated Depreciation $ 30,000 Additional Paid-in Capital 92,000 Allowance for Doubtful 2,000 Accounts Bonds Payable 0 Buildings 249,000 Cash 10,500 Common Stock, 10,000 shares of $1 par 10,000 Notes Payable (long-term) Retained Earnings 10,500 120,000 Treasury Stock TOTALS 0 $ $ 264,500 264,500 The company entered into the following transactions during the year. January 15 Issued 6,000 shares of $1 par common stock for $52,000 cash. January 31 Collected $3,000 from customers on account. February 15 Reacquired 3,020 shares of $1 par common stock into treasury for $33,220 cash. March 15 Reissued 2,020 shares of treasury stock for $24,220 cash. August 15 Reissued 600 shares of treasury stock for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. October 1 Issued 100, 10-year, $1,020 bonds, at a quoted bond price of 101. October 3 Wrote off a $1,500 balance due from a customer who went bankrupt. December 29 Recorded $232,000 of service revenue, all of which was collected in cash. December 30 Paid $202,000 cash for this year's wages through December 31. (Ignore payroll taxes and payroll deductions.) December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.) Require... General General Trial Journal Ledger Balance Balance Sheet Debt to Assets Use the dropdowns to select the accounts properly included on the classified balance sheet. However, you will need to enter the amount of Retained earnings. At the end of the year, the adjusted net income was $20,000. BENDER INDUSTRIES Classified Balance Sheet At December 31 Show lessA

C11-1 (Algo) Financial Reporting of Depreciation, Write-off, Bond Issuance and Common Stock Issuance, Purchase, Reissuance, and Cash Dividends [Chapters 4, 8, 9, 10, and 11) (LO 4-2, 4-5, 8-2, 9-3, 10-3, 11-2, 11-3] Bender Industries, reported the following account balances on January 1. Accounts Receivable Debit $ 5,000 Credit Accumulated Depreciation $ 30,000 Additional Paid-in Capital 92,000 Allowance for Doubtful 2,000 Accounts Bonds Payable 0 Buildings 249,000 Cash 10,500 Common Stock, 10,000 shares of $1 par 10,000 Notes Payable (long-term) Retained Earnings 10,500 120,000 Treasury Stock TOTALS 0 $ $ 264,500 264,500 The company entered into the following transactions during the year. January 15 Issued 6,000 shares of $1 par common stock for $52,000 cash. January 31 Collected $3,000 from customers on account. February 15 Reacquired 3,020 shares of $1 par common stock into treasury for $33,220 cash. March 15 Reissued 2,020 shares of treasury stock for $24,220 cash. August 15 Reissued 600 shares of treasury stock for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. October 1 Issued 100, 10-year, $1,020 bonds, at a quoted bond price of 101. October 3 Wrote off a $1,500 balance due from a customer who went bankrupt. December 29 Recorded $232,000 of service revenue, all of which was collected in cash. December 30 Paid $202,000 cash for this year's wages through December 31. (Ignore payroll taxes and payroll deductions.) December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.) Require... General General Trial Journal Ledger Balance Balance Sheet Debt to Assets Use the dropdowns to select the accounts properly included on the classified balance sheet. However, you will need to enter the amount of Retained earnings. At the end of the year, the adjusted net income was $20,000. BENDER INDUSTRIES Classified Balance Sheet At December 31 Show lessA

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter8: Liabilities And Stockholders' Equity

Section: Chapter Questions

Problem 8.1.2MBA

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