paid Accumulate for cash. 750; Land $40,000, Accounts payable 30), Le -000; Common shares $410,000; and Retained The following transactions and events occurred 1 Issued $50,000 of 5% preferred shares for 1 Sold the equipment at its written down value 1 Acquired new equipment for $150.000 equipment has an estimated useful life of 1 expected residual value, 1 Purchased inventory for $80,000 cm suppliers. 1 Paid rent in advance of $3,200 on a six-mon 1 Made cash sales of $150,000. The related sold was $65,000. 1 Purchased additional land for cash of $20. All remaining accounts receivable were con Various operating expenses totalled $40.000 in cash except for $5,000 for utilities, which January Paid the annual dividend on the preferred cent dividend per common share. Paid the interest on the bank loan. Recorded depreciation for the new equip Recorded rent expense for 2019. Paid cash of $3,800 for income taxes. ng the transactions-based approach (tabular above transactions and events for 2019. Dere balances for all accounts that are included sis. are an income stato : Liabilities and Equity areholders Problem - Part 4 xploration rights were revalued at $5.000.000 any paid $2,000 interest on the bank loan One the company reported a loss of $50.000) Vo, the company reported a net income of $2008) d of Year Two, the company paid a dividend of the preference shareholders and $25.000 to the is a continuation of Problem #13 in Chapter 4 nces as at December 31, 2018 are as follows Cash is receivable $10.000; Merchandise inventory SB., 5,000; Accounts payable $0; Long-term note payable 150; Equipment $55,000; Accumulated depreciation n shares $440,000; and Retained earnings $60,300). transactions and events occurred in 2019. 50,000 of 5% preferred shares for cash. equipment at its written-down value (book value) at has an estimated useful life of 15 years and no new equipment for $150,000 cash. The new residual value. for $80,000 cash from ordinary inventory in advance of $3,200 on a six-month office lease h sales of $150,000. The related cost of goods $65,000 additional land for cash of $20,000. ning accounts receivable were collected. Derating expenses totalled $40,000. All were paid for $5,000 for utilities, which will be paid in anual dividend on the preferred shares, and a 3- nd per common share, Liabilities and Equity ration rights were revalued at $5.000.000. paid $2,000 interest on the bank loan. the company reported a net income of $200.0 the company reported a loss of $50.000 he preference shareholders and $25.000 to the f Year Two, the company paid a dividend of holders. blem - Part 4 a continuation of Problem #13 in Chapter 4 eceivable $10,000; Merchandise inventory $3,000. s as at December 31, 2018 are as follows: Cash 0; Accounts payable $0; Long-term note payable Equipment $55,000; Accumulated depreciation Tares $440,000; and Retained earnings $60.300. ansactions and events occurred in 2019. uipment at its written-down value (book value) 200 of 5% preferred shares for cash ew equipment for $150,000 cash. The new as an estimated useful life of 15 years and to nventory for $80,000 cash from ordinary advance of $3,200 on a six-month office lease. idual value. ales of $150,000. The related $2003 elle in your the common shareholder Comprehensive Problem Part 7 7 Jan for cash Jan. expected residual value, 1 Purchased inventory suppliers Apr. The Baler The company op 5703, the preference shareholders and $25,000 to the The Year W. The company paid dividend 7 minion of Problem #3 in Chapter 4 son2000: Arcounts receivable $10,000; Merchandise inventory S3 The ont balances at December 31, 2018 are follow $22.000; Common shares $440,000; and Retained earnings 560 MW $13,750 Lund $10.000; Accounts payable So; Long-term note payable Prepaid ront $3,750: Equipment $55.000 Accumulated depreciation The following transactions and events occurred in 2019. 1 Sold the equipment at its written down value (hook valve Isted $50.000 of 596 preferred shares for cash 1 Acetired new equipment for $150,000 cash. The ne equipment has an estimated useful life of 15 years and for $80,000 cash from ordna 1 Paid rent in advance of $3,200 on a six-month office lease I Made cash sales of $150,000. The related cost of goo Purchased additional land for cash of $20,000. Dec 30 Various operating expenses totalled $40,000. All were pe Oct. 31 All remaining accounts receivable were collected in cash except for $5,000 for utilities, which will be paid Dec. 31 Paid the annual dividend on the preferred shares, and a cent dividend per common share. Pec. 31 Paid the interest on the bank loan. ec. 31 Recorded depreciation for the new equipment. ec. 31 Recorded rent expense for 2019. c. 31 Paid cash of $3,800 for income taxes. uired the above transactions and events for 2019. Determine the e Using the transactions-based approach (tabular analysis), rec ing balances for all accounts that are included in the tabu analysis. July Aug, sold was $65,000. 1 Sept. January Prepare an income statement for the year 2019. Prepare a statement of changes in retained earnings for ear 2019. -epare a balance sheet as at December 31, 2019 paid Accumulate for cash. 750; Land $40,000, Accounts payable 30), Le -000; Common shares $410,000; and Retained The following transactions and events occurred 1 Issued $50,000 of 5% preferred shares for 1 Sold the equipment at its written down value 1 Acquired new equipment for $150.000 equipment has an estimated useful life of 1 expected residual value, 1 Purchased inventory for $80,000 cm suppliers. 1 Paid rent in advance of $3,200 on a six-mon 1 Made cash sales of $150,000. The related sold was $65,000. 1 Purchased additional land for cash of $20. All remaining accounts receivable were con Various operating expenses totalled $40.000 in cash except for $5,000 for utilities, which January Paid the annual dividend on the preferred cent dividend per common share. Paid the interest on the bank loan. Recorded depreciation for the new equip Recorded rent expense for 2019. Paid cash of $3,800 for income taxes. ng the transactions-based approach (tabular above transactions and events for 2019. Dere balances for all accounts that are included sis. are an income stato : Liabilities and Equity areholders Problem - Part 4 xploration rights were revalued at $5.000.000 any paid $2,000 interest on the bank loan One the company reported a loss of $50.000) Vo, the company reported a net income of $2008) d of Year Two, the company paid a dividend of the preference shareholders and $25.000 to the is a continuation of Problem #13 in Chapter 4 nces as at December 31, 2018 are as follows Cash is receivable $10.000; Merchandise inventory SB., 5,000; Accounts payable $0; Long-term note payable 150; Equipment $55,000; Accumulated depreciation n shares $440,000; and Retained earnings $60,300). transactions and events occurred in 2019. 50,000 of 5% preferred shares for cash. equipment at its written-down value (book value) at has an estimated useful life of 15 years and no new equipment for $150,000 cash. The new residual value. for $80,000 cash from ordinary inventory in advance of $3,200 on a six-month office lease h sales of $150,000. The related cost of goods $65,000 additional land for cash of $20,000. ning accounts receivable were collected. Derating expenses totalled $40,000. All were paid for $5,000 for utilities, which will be paid in anual dividend on the preferred shares, and a 3- nd per common share, Liabilities and Equity ration rights were revalued at $5.000.000. paid $2,000 interest on the bank loan. the company reported a net income of $200.0 the company reported a loss of $50.000 he preference shareholders and $25.000 to the f Year Two, the company paid a dividend of holders. blem - Part 4 a continuation of Problem #13 in Chapter 4 eceivable $10,000; Merchandise inventory $3,000. s as at December 31, 2018 are as follows: Cash 0; Accounts payable $0; Long-term note payable Equipment $55,000; Accumulated depreciation Tares $440,000; and Retained earnings $60.300. ansactions and events occurred in 2019. uipment at its written-down value (book value) 200 of 5% preferred shares for cash ew equipment for $150,000 cash. The new as an estimated useful life of 15 years and to nventory for $80,000 cash from ordinary advance of $3,200 on a six-month office lease. idual value. ales of $150,000. The related $2003 elle in your the common shareholder Comprehensive Problem Part 7 7 Jan for cash Jan. expected residual value, 1 Purchased inventory suppliers Apr. The Baler The company op 5703, the preference shareholders and $25,000 to the The Year W. The company paid dividend 7 minion of Problem #3 in Chapter 4 son2000: Arcounts receivable $10,000; Merchandise inventory S3 The ont balances at December 31, 2018 are follow $22.000; Common shares $440,000; and Retained earnings 560 MW $13,750 Lund $10.000; Accounts payable So; Long-term note payable Prepaid ront $3,750: Equipment $55.000 Accumulated depreciation The following transactions and events occurred in 2019. 1 Sold the equipment at its written down value (hook valve Isted $50.000 of 596 preferred shares for cash 1 Acetired new equipment for $150,000 cash. The ne equipment has an estimated useful life of 15 years and for $80,000 cash from ordna 1 Paid rent in advance of $3,200 on a six-month office lease I Made cash sales of $150,000. The related cost of goo Purchased additional land for cash of $20,000. Dec 30 Various operating expenses totalled $40,000. All were pe Oct. 31 All remaining accounts receivable were collected in cash except for $5,000 for utilities, which will be paid Dec. 31 Paid the annual dividend on the preferred shares, and a cent dividend per common share. Pec. 31 Paid the interest on the bank loan. ec. 31 Recorded depreciation for the new equipment. ec. 31 Recorded rent expense for 2019. c. 31 Paid cash of $3,800 for income taxes. uired the above transactions and events for 2019. Determine the e Using the transactions-based approach (tabular analysis), rec ing balances for all accounts that are included in the tabu analysis. July Aug, sold was $65,000. 1 Sept. January Prepare an income statement for the year 2019. Prepare a statement of changes in retained earnings for ear 2019. -epare a balance sheet as at December 31, 2019