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ACME Corporation Adjusted Trial Balance December 31, 2022 Debit Credit Cash 15,000 Cost of goods sold Accounts receivable Trading investments Inventory Land Buildings 515,000
ACME Corporation Adjusted Trial Balance December 31, 2022 Debit Credit Cash 15,000 Cost of goods sold Accounts receivable Trading investments Inventory Land Buildings 515,000 165,000 20,000 350,000 405,000 505,000 Accounts payable Mortgage payable Accumulated depreciation, buildings Line of credit $126,250 65,000 25,000 765,000 Common shares Retained earnings Dividends declared 265,000 52,375 33,000 Sales revenue 985,000 Depreciation expense 12,625 Income tax expense 135,000 General and administrative expense 128,000 Total $2,283,625 $2,283,625 Additional Information. $33,000 Dividends were declared and paid during the year 5,000 Common shares were issued for $100,000. $40,000 of the mortgage is due in 2022 Using the above adjusted trial balance, calculate the following balances. Enter your answer in the following format: $xxx,xxx Do not enter decimals example five thousand is entered as $5,000. 1. Current Liabilities 2. Net Income 3. Property, Plant and Equipment 4. Current Assets 5. Non-Current Liabilities
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