da T Cash Accounts Receivable Inventories Investments Land Equipment Accumulated depreciation- Equipment Accounts payable Accrued expenses Dividends payable Common stock Paid-in capital in excess of par Retained earnings December 31, 20X2 Dec. 31, 20X2 25,000 30,000 23,000 15,000 60,000 88,000 (8,000) 233,000 16,000 20,000 25,000 120,000 20,000 32,000 233,000 Dec. 31, 20X1 a. The investments were sold for $24,000 cash. b. Equipment and land were acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. 22,000 10,000 19,000 40,000 0 54,000 (5,000) 140,000 18,000 3,000 14,000 80,000 15,000 10,000 140,000 Inc./Dec. 3,000 20,000 4,000 (25,000) 60,000 34,000 3,000 (2,000) 17,000 11,000 40,000 5,000 22,000 e. There was a $50,000 credit to Retained Earnings for net income. f. There was a $28,000 debit to Retained Earnings for cash dividends declared.

December 31,202 Dec. 31,20x2 Dec. 31,201 Inc. Doe. a. The investments were sold for $2,4,000 cash. b. Equipment and land were acquired for cash. Q. There were no disposals of equipment during the yeaf. d. The common stock was issued for cash. e. There was a $50,000 credit to Retained Earnings for net income. 1. There was a 528,000 debit to Retained Earnings for cash dividends deciared December 31,202 Cash Accounts Recolvabie inventories investrients Land Equipment Aceumulated degreciation - Equipment 25,000 30,000 23,000 15.000 60.000 es,000 Accounts parabie Acerued expenses Dividends paysbie Common stoek 10.009 20.000 25,000 120.000 Paldetn capatal in excess of par Retained earninge 22,000 10,000 19,000 40,000 18.000 3.000 14,000 00.000 20,000 32000 15.000 10,000 140.000 3,000 20.000 4.000 (25,000) 60,000 34.000 3,000 (2.000) 17,000 11,000 40.000 5000 22.000 a. The investments were sold for $24,000 cash. b. Equipment and land were acquired for cash c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $50,000 credit to Rotained Eamings for net income 1. There was a $28,000 debit to Retained Earnings for cash dividends declared