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December 31, 2020 Debit Credit Cash $30,000 Accounts receivable 180,000 Supplies 35,000 Inventory 365,000 Land 420,000 Buildings 520,000 Accumulated depreciation, buildings $130,000 Accounts payable 80,000
December 31, 2020 Debit Credit Cash $30,000 Accounts receivable 180,000 Supplies 35,000 Inventory 365,000 Land 420,000 Buildings 520,000 Accumulated depreciation, buildings $130,000 Accounts payable 80,000 Line of credit 40,000 Mortgage payable 780,000 Common shares 280,000 Retained earnings 109,000 Dividends declared 33,000 Sales revenue 1,000,000 Cost of goods sold 530,000 Depreciation expense 13,000 Income tax expense 150,000 General and administrative expense 143,000 Total $2,419,000 $2,419,000 Additional Information $33,000 Dividends were declared and paid during the year $100,000 Common shares were issued $35,000 of the mortgage is due in 2021 Using the above adjusted trial balance, calculate the following balances. Enter your answer in the following format: $xxx,xxx Do not enter decimals. For example five thousand is entered as $5,000. 1. Non-Current Liabilities 2. Current Liabilities 3. Net Income 1. Non-Current Liabilities 2. Current Liabilities 3. Net Income 4. Current Assets 5. Property, plant and Equipment Blank # 1 AJ Blank # 2 A/ Blank # 3 Blank #4 A/ Blank # 5 A/
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