D Computer Services Company.xls File Edit View Insert Format Tools Data Window Help B COMPUTER SERVICES COMPANY Comparative Balance Sheets December 31 Change in Account Balance Increase/Decrease 2010 2009 $ 35.000 20,000 15.000 3.000 $ 33.000 30,000 10,000 1.000 $ 22.000 Increase 10.000 Decrease 5.000 Increase 4,000 Increase 6 Assets Current assess Cash Accounts receivable 101 Merchandise inventory 11 Prepaid expenses 12 Property, plant, and equipment 113 Land 14 Building 15 Accumulated depreciation building 16 Equipment 117 Accumulated depreciation-equipment 1181 119 20 Liabilities and Stockholders' Equity 21 Current liabilities 22 Accounts payable 21 Income tax payahic 24 Long-term liabilities 25 Bonds payable 26 Stockholders Common stock X Retained earnings Total liabilities and stockholders' equity 130,000 1010 (11.0001 27.000 000) $398,000 20.000 10,000 (5.000) 10,000 (1.000) $128.000 110,000 Increase 120,000 Increase 6.000 Increase 17,000 Increase 2.000 Increase Total S 28,000 6.000 $ 12,00 8.000 S 16,000 Increase 2.000 Decrease 130,000 200,000 110,000 Increase 70,000 164.DCO $398.000 50,000 18.000 $138.000 20.000) Increase 116.000 Increase 20 Sheet 1 Sheet 2 Computer Services Company.xls File Edit View Insert Format Tools Help Data B Window A D S507.000 1 COMPUTER SERVICES COMPANY 2 Income Statement For the Year Ended December 31, 2010 4 5 Reventes 16 Cost of goods sold $150.000 17 Operating expenses (excluding depreciation) 111,000 8 Depreciation expense 9,000 Loss on sale of equipment 3,000 10 Interest expense 42.000 11 Income before income tax 12 Income tax expense 131 Net income 315.000 192,000 47.000 $145,000 Sheet 1 Sheet 2 Additional information for 2010: 1. The company declared and paid a $29,000 cash dividend. 2. Issued $110.000 of long-term bonds in direct exchange for land. 3. A building costing $120,000 was purchased for cash. Equipment costing $25,000 was also purchased for cash. 4. The company sold equipment with a book value of $7,000 (cost $8,000, less accumulated depreciation $1,000) for $4,000 cash. 5. Issued common stock for $20,0%)0) cash. 6. Depreciation expense was comprised of $6,0XX0 for building and $3.000 for equipment. D Computer Services Company.xls File Edit View Insert Format Tools Data Window Help B COMPUTER SERVICES COMPANY Comparative Balance Sheets December 31 Change in Account Balance Increase/Decrease 2010 2009 $ 35.000 20,000 15.000 3.000 $ 33.000 30,000 10,000 1.000 $ 22.000 Increase 10.000 Decrease 5.000 Increase 4,000 Increase 6 Assets Current assess Cash Accounts receivable 101 Merchandise inventory 11 Prepaid expenses 12 Property, plant, and equipment 113 Land 14 Building 15 Accumulated depreciation building 16 Equipment 117 Accumulated depreciation-equipment 1181 119 20 Liabilities and Stockholders' Equity 21 Current liabilities 22 Accounts payable 21 Income tax payahic 24 Long-term liabilities 25 Bonds payable 26 Stockholders Common stock X Retained earnings Total liabilities and stockholders' equity 130,000 1010 (11.0001 27.000 000) $398,000 20.000 10,000 (5.000) 10,000 (1.000) $128.000 110,000 Increase 120,000 Increase 6.000 Increase 17,000 Increase 2.000 Increase Total S 28,000 6.000 $ 12,00 8.000 S 16,000 Increase 2.000 Decrease 130,000 200,000 110,000 Increase 70,000 164.DCO $398.000 50,000 18.000 $138.000 20.000) Increase 116.000 Increase 20 Sheet 1 Sheet 2 Computer Services Company.xls File Edit View Insert Format Tools Help Data B Window A D S507.000 1 COMPUTER SERVICES COMPANY 2 Income Statement For the Year Ended December 31, 2010 4 5 Reventes 16 Cost of goods sold $150.000 17 Operating expenses (excluding depreciation) 111,000 8 Depreciation expense 9,000 Loss on sale of equipment 3,000 10 Interest expense 42.000 11 Income before income tax 12 Income tax expense 131 Net income 315.000 192,000 47.000 $145,000 Sheet 1 Sheet 2 Additional information for 2010: 1. The company declared and paid a $29,000 cash dividend. 2. Issued $110.000 of long-term bonds in direct exchange for land. 3. A building costing $120,000 was purchased for cash. Equipment costing $25,000 was also purchased for cash. 4. The company sold equipment with a book value of $7,000 (cost $8,000, less accumulated depreciation $1,000) for $4,000 cash. 5. Issued common stock for $20,0%)0) cash. 6. Depreciation expense was comprised of $6,0XX0 for building and $3.000 for equipment