Question
RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $16,600 $17,500 Accounts receivable 24,900 22,000 Investments 20,250 16,050 Equipment 60,150 69,750 Accumulated depreciationequipment (14,150
RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 |
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|
|
|
|
|
|
| 2020 |
|
| 2019 |
|
Cash |
| $16,600 |
|
| $17,500 |
|
Accounts receivable |
| 24,900 |
|
| 22,000 |
|
Investments |
| 20,250 |
|
| 16,050 |
|
Equipment |
| 60,150 |
|
| 69,750 |
|
Accumulated depreciationequipment |
| (14,150 | ) |
| (10,300 | ) |
Total |
| $107,750 |
|
| $115,000 |
|
|
|
|
|
|
|
|
Accounts payable |
| $14,550 |
|
| $11,150 |
|
Bonds payable |
| 11,000 |
|
| 30,100 |
|
Common stock |
| 49,700 |
|
| 45,100 |
|
Retained earnings |
| 32,500 |
|
| 28,650 |
|
Total |
| $107,750 |
|
| $115,000 |
|
Additional information:
1. |
| Net income was $18,250. Dividends declared and paid were $14,400. |
2. |
| Equipment which cost $9,600 and had accumulated depreciation of $1,800 was sold for $3,800. |
3. |
| No noncash investing and financing activities occurred during 2020. |
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