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make sure to do all parts of the balance sheet! please and thank you! Cullumber Corporation's balance sheet at the end of 2024 included the
make sure to do all parts of the balance sheet! please and thank you!
Cullumber Corporation's balance sheet at the end of 2024 included the following items. The following information is available for 2025. 1. Net income was $53,950. 2. Equipment (cost $21,440 and accumulated depreciation $9,440 ) was sold for $11,440. 3. Depreciation expense was $5,440 on the building and $10,440 on equipment 4. Patent amortization was $2,500. 5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,440. 6. An addition to the building was completed at a cost of $28,440. 7. A long-term investment in stock was purchased for $16,000. 8. Bonds payable of $52,620 were issued. 9. Cash dividends of $30.000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000Step by Step Solution
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