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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $600 were declared at the
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $600 were declared at the end of the year, and 550 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,200 in cash (for a total at the end of the year of 840 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Corrent Year Debit Credit Cash $ 1,550 Accounts receivable 2,250 Interest receivable 220 Prepaid insurance 1,680 Long-term notes receivable 2,980 Equipment 17,000 Accumulated depreciation Accounts payable $ 2,970 2,340 Dividends payable Accrued expenses payable 600 3,860 Income taxes payable Unearned rent revenue Common Stock (840 shares) Additional paid-in capital Retained earnings Sales revenue 2,630 4901 84 3,426 5,270 37,250 Interest revenue 120 Rent revenue 700 Wages expense 19,000 Depreciation expense 1,740 Utilities expense. 410 Insurance expense 750 Dant avnance 0 370 < Prev 2 of 9 Next >
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