Concord Corporation's balance sheet at December 31, 2024, is presented as follow. During 2025, the following transactions occurred, 1. On January 1, Concord issued 2,760 shares of $40 par, 78 preferred stock for $113,160 2. On January 1, Concord also issued 2,070 shares of the $10 par value common stock for $48,300. 3. Concord performed services for $736,000 on account. 4. On April 1, 2025, Concord collected fees of $82.800 in advance for services to be performed from April 1, 2025, to March 31.2026. 5. Concord collected $634,800 from customers on account. 6. Concord bought $80,730 of supplies on account. 7. Concord paid $74.060 on accounts payable. 8. Concord reacquired 920 shares of its common stock on June 1 for $28 per share. 9. Paid other operating expenses of $432.860. 10. On December 31. 2025, Concord declared the annual cash dividend on preferred stock and a 51.20 per share dividend on the outstanding common stock, all payable on January 15, 2026. 11. Anaccount receivable of 53,910 which originated in 2024 is written off as uncollectible Adfictiment data 1. A count of wupples indicates that $13,570 of supplies remain unused at year end. 2. Reconded reverave trom item 4 above. 3. The allowance for doubtful accounts should have a balance ot 58.050 at year end. 4. Depreciation is recorded on the building on a straight-line basis based on a 30 -year life and a salvage value of $23000. 5. The income tax rate is 30s. (Mint: Prepare the income statement up to income before taves and multiply by 303i to compute the amount.) Prepare journal entries for the transactions listed above and adpustine entries. fredit accsunt titles are automuticully indented when amsunt is entered. De not indent moniably If no entry is mquired, select "No Entry" for the account bitier and enter of for the amounts. Reword joumal enbles in the onder presented in the problem. 7. 8. 9. 10. 11. Adjusting entries 1. 2. 3. 4. 5. Prepare an adusted trial balance at December 31, 2025. CONCORDCORRORATION Adjusted Trial Balance 5 $ Prepare an income statement for the year ending December 31, 2025 $ eTextbook and Media List of Accounts Cipipment in ender of tand duvdinp and Fqulpment: Concord Corporation's balance sheet at December 31, 2024, is presented as follow. During 2025, the following transactions occurred, 1. On January 1, Concord issued 2,760 shares of $40 par, 78 preferred stock for $113,160 2. On January 1, Concord also issued 2,070 shares of the $10 par value common stock for $48,300. 3. Concord performed services for $736,000 on account. 4. On April 1, 2025, Concord collected fees of $82.800 in advance for services to be performed from April 1, 2025, to March 31.2026. 5. Concord collected $634,800 from customers on account. 6. Concord bought $80,730 of supplies on account. 7. Concord paid $74.060 on accounts payable. 8. Concord reacquired 920 shares of its common stock on June 1 for $28 per share. 9. Paid other operating expenses of $432.860. 10. On December 31. 2025, Concord declared the annual cash dividend on preferred stock and a 51.20 per share dividend on the outstanding common stock, all payable on January 15, 2026. 11. Anaccount receivable of 53,910 which originated in 2024 is written off as uncollectible Adfictiment data 1. A count of wupples indicates that $13,570 of supplies remain unused at year end. 2. Reconded reverave trom item 4 above. 3. The allowance for doubtful accounts should have a balance ot 58.050 at year end. 4. Depreciation is recorded on the building on a straight-line basis based on a 30 -year life and a salvage value of $23000. 5. The income tax rate is 30s. (Mint: Prepare the income statement up to income before taves and multiply by 303i to compute the amount.) Prepare journal entries for the transactions listed above and adpustine entries. fredit accsunt titles are automuticully indented when amsunt is entered. De not indent moniably If no entry is mquired, select "No Entry" for the account bitier and enter of for the amounts. Reword joumal enbles in the onder presented in the problem. 7. 8. 9. 10. 11. Adjusting entries 1. 2. 3. 4. 5. Prepare an adusted trial balance at December 31, 2025. CONCORDCORRORATION Adjusted Trial Balance 5 $ Prepare an income statement for the year ending December 31, 2025 $ eTextbook and Media List of Accounts Cipipment in ender of tand duvdinp and Fqulpment