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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $625 were declared at the
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $625 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,100 in cash (for a total at the end of the year of 850 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance. End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-term notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable THEAND Income taxes payable Unearned rent revenue Common Stock (850 shares) Additional paid-in capital Retained earnings neta Sales revenue Sales Rent revenue Interest revenue Wages expense Depreciation expense Utilities expense Insurance expense Debit $1,525 2,250 110 1,650 3,050 15,790 20,000 1,900 400 795 Credit $3,100 2,500 625 3,970 1,740 525 85 3,670 1,500 39,650 825 110 Rent expense Income tax expense Total Prepare a classified balance sheet for the end of the current year. 9,100 1,730 $58,300 $58,300
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