THIS IS A RESUBMIT. THE PERSON WHO ANSWERED IT PREVIOUSLY DID NOT ANSWER CORRECTLY. The following items are taken from the financial statements of Blue Spruce Company for the year ending December 31, 2022: Accounts payable $ 17,200 Accounts receivable 7,000 Accumulated depreciation—equipment 5,000 Bonds payable 17,000 Cash 22,000 Common stock 26,400 Cost of goods sold 27,600 Depreciation expense 5,700 Dividends
THIS IS A RESUBMIT. THE PERSON WHO ANSWERED IT PREVIOUSLY DID NOT ANSWER CORRECTLY. The following items are taken from the financial statements of Blue Spruce Company for the year ending December 31, 2022: Accounts payable $ 17,200 Accounts receivable 7,000 Accumulated depreciation—equipment 5,000 Bonds payable 17,000 Cash 22,000 Common stock 26,400 Cost of goods sold 27,600 Depreciation expense 5,700 Dividends
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
THIS IS A RESUBMIT. THE PERSON WHO ANSWERED IT PREVIOUSLY DID NOT ANSWER CORRECTLY.
The following items are taken from the financial statements of Blue Spruce Company for the year ending December 31, 2022:
Accounts payable | $ 17,200 | ||
Accounts receivable | 7,000 | ||
5,000 | |||
Bonds payable | 17,000 | ||
Cash | 22,000 | ||
Common stock | 26,400 | ||
Cost of goods sold | 27,600 | ||
Depreciation expense | 5,700 | ||
Dividends | 5,200 | ||
Equipment | 40,000 | ||
Interest expense | 2,000 | ||
Patents | 5,180 | ||
Retained earnings, January 1, 2022 | 5,700 | ||
Salaries and wages expense | 5,300 | ||
Sales revenue | 51,500 | ||
Supplies | 2,820 |
Net income: $10, 900
Total assets: $72,000
Total liabilites and owners' equity: $72,000
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