Financial_Statement_Problem_1

Financial_Statement_Problem_1 - INTANGIBLES $1,082,223...

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Financial Statement Problem #1 Thurber, Inc. As of 12/31/2004 Prepare an income statement, statement of retained earnings and balance sheet. ACCOUNTS PAYABLE $1,255,298 ACCOUNTS RECEIVABLE $2,506,044 ACCUMULATED DEPRECIATION $8,311,941 BONDS PAYABLE $4,807,405 BUILDINGS $8,897,199 CASH $121,302 COMMON STOCK $1,076,606 DEPRECIATION EXPENSE $2,988,801 DIVIDENDS $200,000 EQUIPMENT $2,637,350 INCOME TAX EXPENSE $343,202
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Unformatted text preview: INTANGIBLES $1,082,223 INTEREST EXPENSE $979,078 LAND $6,021,526 LOSS ON DISPOSAL OF EQUIPMENT $835,761 MAINTENANCE EXPENSE $2,841,625 NOTES PAYABLE (LONG TERM) $455,591 PREPAYMENTS $17,040 RENT EXPENSE $1,650,048 RETAINED EARNINGS (BEGINNING BALANCE) $4,339,443 SALARIES & EMPLOYEE BENEFITS EXPENSE $9,406,154 SALARIES PAYABLE $699,906 SERVICE REVENUE $19,629,040 SUPPLIES $269,269 TAXES PAYABLE $221,392...
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