Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following balances were taken from the books of Marigold Corp. on December 31,2025. begin{tabular}{|c|c|c|c|} hline Cosh & 52.150 & Accumulated depreciation- buildings & 29,150
The following balances were taken from the books of Marigold Corp. on December 31,2025. \begin{tabular}{|c|c|c|c|} \hline Cosh & 52.150 & Accumulated depreciation- buildings & 29,150 \\ \hline Sales revenue & 1.381,150 & Notes recelvable & 156,150 \\ \hline Accounts receivable & 151,150 & Sellingexpenses & 195.150 \\ \hline Prepald insurance & 21,150 & Accounts payable & 171,150 \\ \hline Sales returns and allowances & 151,150 & Bonds payable: & 101,150 \\ \hline Allowance for doubtful accounts: & 8,150 & Administrative and general expenses & 98.150 \\ \hline Sales discounts & 46,150 & Accrued liabilities & 33,150 \\ \hline Lind & 101,150 & Interestexperse & 61.150 \\ \hline Equipment & 201,150 & Notes payable & 101,150 \\ \hline Buildings & 141.150 & Loss fromearthquake damage: & 151,150 \\ \hline Cost of goods sold & 622150 & Commanstock & 501.150 \\ \hline & & Retained earnings & 22,150 \\ \hline \end{tabular} Rovenue Sules Pevenue 5 1,381,150 Leis y s 151.150 \begin{tabular}{|l|} \hline Sale Returns and Allowances \\ \hline Saies Docounta \\ \hline \end{tabular} 46150= \begin{tabular}{|c|c|} \hline Nerisuln & \\ \hline \multicolumn{2}{|l|}{ Costot Coodisold: } \\ \hline Crossprobt & 7 \\ \hline Operatine Erpenses. & 9 \\ \hline Stlinge Expenses & \\ \hline Adinchitrative andC & exnye \\ \hline \end{tabular} \begin{tabular}{|r|} \hline 105,000 \\ \hline 1,183,850 \\ \hline 022150 \\ \hline 1561700 \\ \hline \end{tabular} The following balances were taken from the books of Marigold Corp. on December 31,2025. \begin{tabular}{|c|c|c|c|} \hline Cosh & 52.150 & Accumulated depreciation- buildings & 29,150 \\ \hline Sales revenue & 1.381,150 & Notes recelvable & 156,150 \\ \hline Accounts receivable & 151,150 & Sellingexpenses & 195.150 \\ \hline Prepald insurance & 21,150 & Accounts payable & 171,150 \\ \hline Sales returns and allowances & 151,150 & Bonds payable: & 101,150 \\ \hline Allowance for doubtful accounts: & 8,150 & Administrative and general expenses & 98.150 \\ \hline Sales discounts & 46,150 & Accrued liabilities & 33,150 \\ \hline Lind & 101,150 & Interestexperse & 61.150 \\ \hline Equipment & 201,150 & Notes payable & 101,150 \\ \hline Buildings & 141.150 & Loss fromearthquake damage: & 151,150 \\ \hline Cost of goods sold & 622150 & Commanstock & 501.150 \\ \hline & & Retained earnings & 22,150 \\ \hline \end{tabular} Rovenue Sules Pevenue 5 1,381,150 Leis y s 151.150 \begin{tabular}{|l|} \hline Sale Returns and Allowances \\ \hline Saies Docounta \\ \hline \end{tabular} 46150= \begin{tabular}{|c|c|} \hline Nerisuln & \\ \hline \multicolumn{2}{|l|}{ Costot Coodisold: } \\ \hline Crossprobt & 7 \\ \hline Operatine Erpenses. & 9 \\ \hline Stlinge Expenses & \\ \hline Adinchitrative andC & exnye \\ \hline \end{tabular} \begin{tabular}{|r|} \hline 105,000 \\ \hline 1,183,850 \\ \hline 022150 \\ \hline 1561700 \\ \hline \end{tabular}
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started