Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 $ in e08s) 2018 2817 Assets Cash Accounts receivable $.75$69 Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment 45 31 60 268 40 28 30 380 Buildings and equipment Less: Accumulated depreciation (43) (80) $ 474 $ 445 Liabilities Accounts payable salaries payable Interest payable Income tax payable Notes payable Bonds payable s 63 84 30 9 65 Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 218 24 49 283 28 64 Less: Treasury stock (at cost) $ 474 445 DUX COMPANY Income Statenent For the Year Ended December 31, 2018 (s in eees) Revenues Sales revenue Dividend revenue 290 3 $ 293 Expenses Cost of goods sold Salaries expense Depreciation expens Bad debt expense Interest expense Loss on sale of building Income tax expense s170 43 $ 44 279 s 14 Net income Additional information from the accounting records: a. A building that originally cost $56,000, and which was three-fourths depreciated, was sold for $5,000. b. The common stock of Byrd Corporation was purchased for $3,000 as a long-term investment C. Property was acquired by issuing a 12%, seven-year, $30,000 note payable to the seller. d. New equipment was purchased for $24,000 cash. e. On January 1, 2018, bonds were sold at their $25,000 face value. f. On January 19, Dux issued a 5% stock dividend (1,000 shares). The market price of the $10 par value common stock was $14 per share at that time. g. Cash dividends of $14,000 were paid to shareholders h. On November 12, 500 sheres of common stock were repurchased as treasury stock at a cost of $4,000. Required: Prepare the T-accounts for Dux Company. (Do not round your intermediate calculations. Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign Required: Prepare the T-accounts for Dux Company.(Do not round your intermediate calculations. Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) Beg Ba Operating Activities: rom customers 287 32 o suppliers of goods rom dividends received B To employees 5 [For interest 17 For income taxes Investing Activities: Sale of bulding of LT investment ase of equipment Financing Activities Sale of bonds payable 13 Payment of cash dvidends Purchase of treasury stock End Bal 119 End Ba End Ba
