H.W ch4q7 Acc418
H.W ch4q7 Acc418
H.W ch4q7 Acc418
Buildings &
875,000 250,000 net income
Equipment
Cost of
250,000 155,000 RE statement
Goods Sold
Depreciation Retained
65,000 12,000
Expense Earnings
S&A Dividends
280,000 50,000
Expense Declared
Dividends
80,000 25,000 NI
Declared
Accumulate
d $565,000 $36,000 RE Ending
Depreciation
Accounts
77,000 27,000 B/S
Payable
Bonds
400,000 100,000 Total Assets
Payable
Common
625,000 250,000 Cash
Stock
Retained
280,000 120,000 AR
Earnings
Sales 800,000 310,000 Inventory
Land
Total $2,840,000 $2,840,000 $843,000 $843,000 Build &
Equip
Acc Dep
elimating
goodwill
enrty
RE 120,000 L+OE
Income in Accounts
93,000
sub Payable
Bonds
25,000
dividend Payable
Common
invesment 438,000 Stock
goodwill=520,000 -
RE Ending
(370,000+30,000+10,000)=110,000
Total L+OE
inventory 30,000
Buildings &
Equipment
10,000
goodwilll 110,000
invesment 150,000
cogs 30,000
income 30,000
dep exp 2,000
800,000 310,000 1,110,000
-250,000 -155,000 30,000 -435,000
-65,000 -12,000 -77,000
-280,000 -50,000
-330,000
93,000 93,000 30,000 30,000
298,000 93,000
298,000
E statement
$122,000 $46,000
$168,000
140,000 60,000
$200,000
190,000 120,000 30,000 340,000
588,000 588,000
0
250,000 125,000 375,000
875,000 250,000
10,000 1,135,000
($565,000) ($36,000) ($601,000)
110,000 110,000