apter $04$ Homework

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The adjusted trial balance for Rowdy Profits Corporation reports that its equipment cost $$220,000.$ For the current year, the company has recorded $$26,400$ of depreciation, which brings the total depreciation to date to $$132,000.$

$\backslash$table$[[$Balance Sheet,Income Statement$],[$Assets$,$Revenues$],[$Liabilities$,$Expenses$],[$Stockholders$\text{'}$ Equity,$]]$

Required:

Using the headings shown above, indicate the location and amounts that would be used to report the three items on the company's balance sheet and income statement.

References

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Balance Sheet

Income

Statement

Using the headings shown above, indicate the location and amounts that would be used to report the three items on the company's income statement.