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can you please show all calculations? -75 Sandhill Corporatior's trial balance at December 31, 2022, is presented below. All 2022 transactions have been recorded except
can you please show all calculations?
-75 Sandhill Corporatior's trial balance at December 31, 2022, is presented below. All 2022 transactions have been recorded except f the items described below. Debit Credit Cash $ 30,600 Accounts Receivable 61,200 Inventory 27.240 Land 78,000 114,000 48,000 $ 540 36,000 17,280 Buildings Equipment Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Interest Payable Dividends Payable Unearned Rent Revenue Bonds Payable (10%) Preferred Stock (5 20 par) Paid-in Capital in Excess of Par-Preferred Stock Common Stock ( 10 par) 23,160 -0- -0- 9,600 60,000 -0- -0- 36.000 36,000 Common Stock is 10 par Pald-in Capital in Excess of Par-Common Stock Retained Earnings Treasury Stock 7.200 90,060 -0- Cash Dividends -0. Sales Revenge 634,000 Rent Revenue -0 Bad Debt Expense -0. Interest Expense -0. Cost of Goods Sold 480.000 Depreciation Expense Other Operating Expenses Salaries and Wages Expense Total -0- 46,800 78,000 $ 963.840 $953.840 Unrecorded transactions and adjustments 1 2 On January 1, 2022. Sandhill issued 1.200 shares of $ 20 par, 6 preferred stock for $26.400 On January 1, 2022. Sandhill also issued 1.200 shares of common stock for $27.600 Sandhill reacquired 360 shares of its common stock on July 1 2022 for $49 per share On December 31, 2022. Sandhill declared the annual cash dividend on the preferred stock and a $150 per share dividend on ADS con 3 46,800 ther Operating Expenses Salaries and Wages Expense Total 78,000 $963,840 $963.840 Unrecorded transactions and adjustments: 2 4. 1. On January 1, 2022, Sandhill issued 1.200 shares of $ 20 par, 6% preferred stock for $ 26,400. On January 1, 2022, Sandhill also issued 1.200 shares of common stock for $ 27,600. 3. Sandhill reacquired 360 shares of its common stock on July 1, 2022, for $ 49 per share. On December 31, 2022, Sandhill declared the annual cash dividend on the preferred stock and a $ 1.50 per share dividend on the outstanding common stock, all payable on January 15, 2023. 5. Sandhill estimates that uncollectible accounts receivable at year-end are $ 6,120. The building is being depreciated using the straight-line method over 30 years. The salvage value is $ 6,000. The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $4,800. The unearned rent was collected on October 1, 2022. It was receipt of 4 months' rent in advance (October 1, 2022 through January 31, 2023) The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2022. has not been paid or recorded 6. 7. 8. 9. Ignore income taxes.) Step by Step Solution
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