- + fit to page Page view A Read alou Modison Corporation Balance Sheets June 30, 2019 and 2018 2019 2018 59,490 $1,400 8.550 9,000 6.100 310 4.320 180 8.000 Assets: Cash Accounts receivable (net) Inventory Prepaid expenses Land Building Accumulated depreciation, building Equipment Accumulated depreciation equipment Patents (net) Total Asset Libilities and Stockholders' Equity Accounts payable Salary payable Dividends payable Mortgage payable Common stock Retained earnings Total liabilities and owners' equity 10.000 30,000 (10.000) 12,000 (7.100) 30,000 (9,000) 16.000 (8.500) 4.500 $55,900 4000 $63,350 $ 6,1205 290 3,000 8,000 29.000 16,940 563.350 4,850 400 1.500 10.000 23.500 15.650 $55.900 Additional information a) Net Income was $13.290 b) Amortization of patents were $500 c) Depreciation expense, equipment was $1.500. d) A smal parcel of land was purchased during the year for $2.000 e Equipment with a cost of 54,000 and accumulated depreciation of $2.900 was sold for a loss of $300 Depreciation expense, buildings were $1,000 El Mortgage principal of $2.000 wesrepaid during the year Dividends of $12.000 were declared, dv dends paid were $10.500 Common stock was sued for cash proceeds of $5.500. Reguited: - + fit to page Page view A Read alou Modison Corporation Balance Sheets June 30, 2019 and 2018 2019 2018 59,490 $1,400 8.550 9,000 6.100 310 4.320 180 8.000 Assets: Cash Accounts receivable (net) Inventory Prepaid expenses Land Building Accumulated depreciation, building Equipment Accumulated depreciation equipment Patents (net) Total Asset Libilities and Stockholders' Equity Accounts payable Salary payable Dividends payable Mortgage payable Common stock Retained earnings Total liabilities and owners' equity 10.000 30,000 (10.000) 12,000 (7.100) 30,000 (9,000) 16.000 (8.500) 4.500 $55,900 4000 $63,350 $ 6,1205 290 3,000 8,000 29.000 16,940 563.350 4,850 400 1.500 10.000 23.500 15.650 $55.900 Additional information a) Net Income was $13.290 b) Amortization of patents were $500 c) Depreciation expense, equipment was $1.500. d) A smal parcel of land was purchased during the year for $2.000 e Equipment with a cost of 54,000 and accumulated depreciation of $2.900 was sold for a loss of $300 Depreciation expense, buildings were $1,000 El Mortgage principal of $2.000 wesrepaid during the year Dividends of $12.000 were declared, dv dends paid were $10.500 Common stock was sued for cash proceeds of $5.500. Reguited
