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Just need help on B to M on the last screen shot Waddell Company had the following balances in its accounting records as of December
Just need help on B to M on the last screen shot
Waddell Company had the following balances in its accounting records as of December 31, 2018: Liabilities and Equity Assets Cash $ 52,000 43,000 29,000 $124,000 Accounts Payable Common Stock Retained Earnings $ 21,000 89,000 14,000 $124,000 Accounts Receivable Land Totals The following accounting events apply to Waddell Company's 2019 fiscal year: 1 Acquired $48,000 cash from the issue of common stock. Jan Feb.1 Paid $5,700 cash in advance for a one-year lease for office space 1 Paid a $2,800 cash dividend to the stockholders. Mar. April 1 Purchased additional land that cost $29,000 cash. May July1 Received $7,400 cash in advance as a retainer for services to be 1 Made a cash payment on accounts payable of $16,000. performed monthly over the coming year. Sept. 1 Sold land for $22,000 cash that had originally cost $22,000 Oct.1 Purchased $990 of supplies on account. Dec. 31 Earned $66,000 of service revenue on account during the year. 31 Received cash collections from accounts receivable amounting to $66,000. 31 Incurred other operating expenses on account during the year that amounted to $14,000. 31 Recognized accrued salaries expense of $5,000. 31 Had $120 of supplies on hand at the end of the period 31 The land purchased on April 1 had a market value of $30,000 31 Recognized $116 of accrued interest revenueStep by Step Solution
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