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] National Companies, reported the following account balances on January 1. The company entered into the following transoctions during the year. Tanuary is tssued 20,060 aharen of $1 par comen atock for $10,000 cash. January 31 colincted $3,000 trom cuatomers on accoont. rebruary 15 mencquired 3,300 aharen of 91 par comnon stock into treanury for $16,300 cast, Mareh is teinsued 2, 300 obares of treacury stock for 127,300 casb. Aaqust is peianued 600 sharne of treasury stock for 54,600 cath. peptneber is beclared (but did bot yet payil a $1 easb dividend on each outatanding ahare of coenon atock. October 1 Ionued 100, 10-year, 11, 160 tonds, at a quoted bond pilee of 101 . october 3 Yrote off a $1,500 balance due trom a customer who went bankrupt. December 29 Fecorded 1260 , 000 of service revehise, a11 of which was collected in caab. December 10 Paid 1230, 000 caek for this year's wages through Desenber 31. (Igoorn payroll tanen and payral1 deductians-1 Decemaber 31 Caleulated 510,000 of depreciatiog for the year to be recorded. (Ignore acerial adjoatnents tor Intorest and imenen tares, 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. Debt to Assets Ratio > Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio. (Round your answer to 2 decimal places.) 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, 113] National Companies, reported the following account balances on January 1. The company entered into the following transactions during the year. January 15 Issued 20,000 shares of $1 par conmon ntock for $80,000 cash. January 31 collected $3,000 from eustomers on account. Pobruary 15 Reacquired 3,300 ohareo of $1 par comson stock into treanury for $36,300 cash. March is heissued 2,300 sharen of treasury stoek for 527,300 cash. Augast is Reinsued 600 ohares of treasury litock for $4,600 cash. september 15 Declared (but did not yet pay) a 51 cash dividend on each outitanding share of comeon stock. oetober 1 Insued 100, 10-year, 51,160 bonds, at a quoted bond price of 101 . october 3 Wrote oft a $1,500 balance due from a custoner who vent bankrupt. Decenber 29 Recorded $260,000 of nervice revenue, a11 of which was collected in cash. Decenber 30 Paid 5230,000 eash for thil year's wagen through becenber 31. (Ignore payro11 taxes and payroll deduction.) Decenber 31 caleulated 510,000 of depreciation for the year to be recorded. (Ignore acorual adjuntmenta tor intereat 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
