Rationale: $234,000. $250,000 $16,000 allowance for uncollectible accounts = $234,000 $75,000. No change. Interest receivable is recorded in a separate account. $133,000. $168,000 $35,000 = $133,000 $37,000. Given in the problem. $420,000. No adjustments were made to inventory. $640,000. Equipment is at historical cost. $176,000. No change. $52,500. $15,000 + $37,500 = $52,500 $203,000. $174,000 + $29,000 = $203,000

How did they get $29,000 for accumulated depreciation

Hillside had the following selected account balances as of December 31, 20X1. Accounts receivable $250,000 Notes receivable 75,000 Prepaid rent 168,000 Supplies 60,000 Inventory 420,000 Equipment (historical cost) 640,000 Accounts payable 176,000 Salaries payable 15,000 Accumulated depreciation 174,000 The following information was received from Hillside's accountant. Adjusting entries have not yet been made. 1. It is estimated that $16,000 of accounts will not be collectible. A provision for uncollectible accounts has never been made by Hillside. 2. Supplies remaining at the end of the year were $37,000. 3. Equipment is depreciated over 20 years with a $60,000 salvage value. 4. Accrued salaries at 12/31/X1 were $37,500. 5. The note receivable was signed by the customer on November 1, 20X1. It is a 6-month note with an interest rate of 12%, with the principle and interest paid at maturity. 6. Rent was paid on August 1, 20X1, for 24 months and recorded in a prepaid rent account. 7. Hillside does not elect to use the fair value option for any of its financial assets or liabilities. 8. Determine the adjustments necessary for December 31, and indicate the adjusted balances of the selected accounts at December 31, 20X1. 9. For each of the selected accounts, enter the adjusted account balance as a positive, whole number