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Question 20 (5 points) The following information is provided for ACME Corporation: ACME Corporation Adjusted Trial Balance December 31, 2022 Debit Credit Cash Cost
Question 20 (5 points) The following information is provided for ACME Corporation: ACME Corporation Adjusted Trial Balance December 31, 2022 Debit Credit Cash Cost of goods sold Accounts receivable Trading investments Inventory Land Buildings 10,000 510,000 160,000 15,000 345,000 400,000 500,000 Accumulated depreciation, buildings $125,000 Accounts payable Line of credit Mortgage payable 60,000 20,000 760,000 Common shares Retained earnings Dividends declared 260,000 33,500 33,000 Sales revenue 980,000 Depreciation expense 12,500 Income tax expense 130,000 General and administrative expense 123,000 Total $2,238,500 $2,238,500 Additional Information $33,000 Dividends were declared and paid during the year 5,000 Common shares were issued for $100,000. $35,000 of the mortgage is due in 2022 Using the above adjusted trial balance, calculate the following balances. Enter your answer in the following format: $xxx,xxx Do not enter decimals. For example five thousand is entered as $5,000.
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