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Unformatted text preview: 1. Show the combination T-account. a. Common Stock has a credit balance of $350,000, and Preferred Stock has a credit balance of $280,0000. The combination of the two accounts is called Total Contributed Capital. b. Investment – Treasury Securities has a debit balance of $400,000. Allowance – Treasury Securities has a credit balance of $62,600. The combination of the two accounts is called Investment - Trading Securities (Net). c. Machinery has a debit balance of $145,800. Accumulated Depreciation has a credit balance of $52,800. Find the book value. d. Bond Payable has a credit balance of $2,000,000. Unamortized Bond Discount has a debit balance of $134,600. Find the carrying value. Textbook: E2-3, E2-6, E2-7, E3-12, P3-4A, BYP3-4 Ungraded Problems P2-2A, P2-6A, P2-8B, P3-8A, P3-5B...
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This note was uploaded on 04/05/2009 for the course ORIE 350 taught by Professor Callister during the Summer '08 term at Cornell.
- Summer '08