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The Numo Company, which was acquired (and renamed} in 2003 by E. R. Numo, sellls gets to multinational rms. In 2010, a venture capital rm

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The Numo Company, which was acquired (and renamed} in 2003 by E. R. Numo, sellls gets to multinational rms. In 2010, a venture capital rm provided additional funding in order to allow the company to expand operations- The following information was taken from the preliminary unadjusted trial balance of Numo Company, a calendar year company, on December 31, 2010: Cash 22,000 Accounts Receivable 60,000 Inventory 33,000 Transportation Equipment 203,000 Accumulated Depreciation Transportation Equipment 63,000 Goodwill 200,000 Accounts Payable 19,000 Deferred Taxes Depreciation 6,000 Common Stock, $2 par 62,000 Paidin Capital in Excess of Far Value 81,000 Retained Earnings, 11' If 10 281,000 Sales 321,000 Salariestompensation Expense 33,000 Cost of Goods Sold 140,000 Supplies Expense 16,000 Depreciation Expense Transportation Equipment 22,000 Municipal Bond Interest 1,000 D 839,000 339 00 However, the bookkeeping staff did not record the following transactions because staff members were unsure about the appropriate accounting treatment

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