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Waddell Company had the following balances in its accounting records as of December 31, 2018: Liabilities and Equity Assets Cash $ 49,000 52,000 33,000 $134,000
Waddell Company had the following balances in its accounting records as of December 31, 2018: Liabilities and Equity Assets Cash $ 49,000 52,000 33,000 $134,000 Accounts Payable Common Stock Retained Earnings $ 28,000 92,000 14,000 $134,000 Accounts Receivable Land Totals The following accounting events apply to Waddell Company's 2019 fiscal year: an Feb 1 Acquired $46,000 cash from the issue of common stock. 1 Paid $5,700 cash in advance for a one-year lease for office space. Mar Paid a $2,500 cash dividend to the stockholders April 1 Purchased additional land that cost $33,000 cash May July1 Received $7,200 cash in advance as a retainer for services to be 1 Made a cash payment on accounts payable of $16,000. performed monthly over the coming year. Sept. Sold land for $20,000 cash that had originally cost $20,000. 1 Purchased $1,110 of supplies on account. 31 Received cash collections from accounts receivable amounting to 31 Incurred other operating expenses on account during the year that Oct Dec. 31 Earned $70,000 of service revenue on account during the year $59,000 amounted to $12,000. 31 Recognized accrued salaries expense of $4,900. 31 Had $190 of supplies on hand at the end of the period 31 The land purchased on April 1 had a market value of $36,000. 31 Recognized $124 of accrued interest revenue
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