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These items are taken from the financial statements of Ivanhoe Corporation for the year ended December 31, 2021: Retained earnings, January 1 $ 212,000 Cash
These items are taken from the financial statements of Ivanhoe Corporation for the year ended December 31, 2021: Retained earnings, January 1 $ 212,000 Cash 15,900 Salaries payable 3,000 Utilities expense 2,000 59,000 Equipment Accounts payable 19,000 Buildings 63,500 Common shares 33,700 5,000 Dividends declared Service revenue 213,400 Prepaid insurance 1,500 Prepaid insurance 1,500 Repairs and maintenance expense 2,800 Land 166,000 Depreciation expense 6,200 Accounts receivable 14,200 Insurance expense 1,700 Salaries expense 121,800 Accumulated depreciation-equipment 16,600 Income tax expense 6,000 Supplies 200 Operating expense 39.400 Supplies expense 1,000 Bank loan payable, due 2024 13,500 Bank loan payable, due 2024 13,500 Trading investments 21,000 Accumulated depreciation-buildings 17,000 Interest expense 1,500 Interest revenue 500 Additional information: 1. Ivanhoe started the year with $ 28,000 of common shares and issued $5,700 more during the year. 2. Ivanhoe must pay $1,500 of the bank loan payable next year in 2022
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