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QUESTION 2 Cash Accounts Receivable Inventories Investments Land Equipment Accumulated depreciation- Equipment Accounts payable Accrued expenses Dividends payable Common stock Paid-in capital in excess of
QUESTION 2 Cash Accounts Receivable Inventories Investments Land Equipment Accumulated depreciation- Equipment Accounts payable Accrued expenses Dividends payable Common stock Paid-in capital in excess of par Retained earnings XYZ Company Balance Sheet December 31, 20X2 Dec. 31, 20X2 25,000 30,000 23,000 15,000 60,000 88,000 (8,000) 233,000 16,000 20,000 25,000 120,000 20,000 32,000 233,000 a. The investments were sold for $24,000 cash. b. Equipment and land were acquired for cash. Dec. 31, 20X1 22,000 10,000 19,000 40,000 0 54,000 (5,000) 140,000 18,000 3,000 14,000 80,000 15,000 10,000 140,000 Inc./Dec. 3.000 20,000 4,000 (25,000) 60,000 34,000 3,000 (2,000) 17,000 11,000 40,000 5,000 22,000 100 points
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