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Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings Cash Common Stock, 10,000 shares of $1 par Notes Payable (long-term)
Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings Cash Common Stock, 10,000 shares of $1 par Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS $ 5,000 $ 30,000 90,000 2,000 247,000 10,000 10,000 10,000 120,000 $262,000 $262,000 The company entered into the following transactions during the year. Jan. 15 Issued 5,000 shares of $1 par common stock for $50,000 cash Jan. 31 Collected $3,000 from customers on account. Feb. 15 Reacquired 3,000 shares of $1 par common stock into treasury for $33,000 cash. Mar. 15 Reissued 2,000 shares of treasury stock for $24,000 cash. Aug. 15 Reissued 600 shares of treasury stock for $4,600 cash Sept. 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. Oct. 1 Issued 100, 10-year, $1,000 bonds, at a quoted bond price of 101. Oct. 3 Wrote off a $2,000 balance due from a customer who went bankrupt Dec. 29 Recorded $230,000 of service revenue, all of which was collected in cash. Dec. 30 Paid $200,000 cash for this year's wages through December 31. Ignore payroll taxes and payroll deductions. Dec. 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and ind taxes.) General Journal General Ledger Debt to Assets Ratio Requirement Trial Balance Balance Sheet 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 AMERICAN LASER, INC Classified Balance Sheet At December 31 Liabilities Noncurrent Liabilities Notes Payable (long-term) Bonds Payable Premium on Bonds Payable 10,000 100,000 1,000
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