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Additional information from the accounting records: A building that originally cost $68,000, and which was three-fourths depreciated, was sold for $15,000. The common stock of

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Additional information from the accounting records:

  1. A building that originally cost $68,000, and which was three-fourths depreciated, was sold for $15,000.
  2. The common stock of Byrd Corporation was purchased for $4,000 as a long-term investment.
  3. Property was acquired by issuing a 15%, seven-year, $10,000 note payable to the seller.
  4. New equipment was purchased for $30,000 cash.
  5. On January 1, 2018, bonds were sold at their $30,000 face value.
  6. On January 19, Dux issued a 5% stock dividend (1,000 shares). The market price of the $10 par value common stock was $14 per share at that time.
  7. Cash dividends of $13,000 were paid to shareholders.
  8. On November 12, 1,000 shares of common stock were repurchased as treasury stock at a cost of $10,000.

Required: Prepare the T-accounts for Dux Company. (Do not round your intermediate calculations. Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.)

Required Informetlon The comparative balance sheets for 2018 and 2017 and the statement of Income for 2018 are glven below for Dux Company. Additional Information from Dux's accounting records is provided also. Dux COMPANY Comparative Balance Sheets December 31, 2818 and 2817 (s in 888s) 2818 2817 Assets Cash Accounts receivable $ 52 $ 31 78 41 Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment 186 54 95 162 95 50 85 286 Less: Accumulated depreciation (38) (88) $ 467 468 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable $ 46 82 1e 8e 5e Less: Discount on bonds Shareholders Equity Common stock Paid-in capital-excess of par Retained earnings 286 28 97 (10) 8 $ 467 468 210 24 93 Less: Treasury stock (at cost) DUX COMPANY Income Statement For the Year Ended December 31, 2818 (s in 888s) Revenues Sales revenue Dividend revenue $ 37e 4 $374 Expenses $ 245 38 Cost of goods sold Salaries expense Depreciation expense Bad debt expense Interest expense Loss on sale of building Income tax expense 18 $ 45 350 S 24 Net income Required Informetlon The comparative balance sheets for 2018 and 2017 and the statement of Income for 2018 are glven below for Dux Company. Additional Information from Dux's accounting records is provided also. Dux COMPANY Comparative Balance Sheets December 31, 2818 and 2817 (s in 888s) 2818 2817 Assets Cash Accounts receivable $ 52 $ 31 78 41 Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment 186 54 95 162 95 50 85 286 Less: Accumulated depreciation (38) (88) $ 467 468 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable $ 46 82 1e 8e 5e Less: Discount on bonds Shareholders Equity Common stock Paid-in capital-excess of par Retained earnings 286 28 97 (10) 8 $ 467 468 210 24 93 Less: Treasury stock (at cost) DUX COMPANY Income Statement For the Year Ended December 31, 2818 (s in 888s) Revenues Sales revenue Dividend revenue $ 37e 4 $374 Expenses $ 245 38 Cost of goods sold Salaries expense Depreciation expense Bad debt expense Interest expense Loss on sale of building Income tax expense 18 $ 45 350 S 24 Net income

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