Question details

ACC 291 Week 5 Individual Assignment (E13-8 & E14-3)
$ 15.00

Cash                                                                        $ 73,000      $ 22,000

         Accounts receivable                                                  85,000          76,000

         Inventories                                                               170,000       189,000

         Land                                                                           75,000       100,000

         Equipment                                                                260,000       200,000

        Accumulated depreciation                                        (66,000)       (32,000)

            Total                                                                     $597,000     $555,000

 

Liabilities and Stockholders’ Equity

       Accounts payable                                                       $ 39,000      $ 47,000

       Bonds payable                                                             150,000       200,000

       Common stock ($1 par)                                               216,000       174,000

       Retained earnings                                                        192,000       134,000

           Total                                                                       $597,000   $555,

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