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Given the following account information for Blossom Corporation. Equipment 61,000 Interest Expense 2,500 Interest Payable 610 Retained Earnings ? Dividends 49,110 Land 140,000 Accounts Receivable

Given the following account information for Blossom Corporation.

Equipment 61,000
Interest Expense 2,500
Interest Payable 610
Retained Earnings ?
Dividends 49,110
Land 140,000
Accounts Receivable 100,000
Bonds Payable 77,000
Notes Payable (due in 6 months) 29,000
Common Stock 70,000
Accumulated Depreciation - Equipment 10,000
Prepaid Advertising 5,200
Service Revenue 340,000
Buildings 80,000
Supplies 2,000
Income Taxes Payable 3,000
Utilities Expense 1,200
Advertising Expense 1,600
Salaries and Wages Expense 52,000
Salaries and Wages Payable 900
Accumulated Depr. - Building 15,500
Cash 43,000
Depreciation Expense 8,400

Prepare a balance sheet in report form for the company as of December 31, 2020. All accounts have normal balances. (List Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.)

image text in transcribed

Leong Corporation Balance Sheet Assets - $ Liabilities & Stockholders' Equity $ 4 $

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