AE5-17 cha 5 wiley

AE5-17 cha 5 wiley - AE5-17 Correct(Preparation of a...

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AE5-17 Correct. (Preparation of a Statement of Cash Flows and a Balance Sheet) Chekov Corporation's balance sheet at the end of 2009 included the following items. Current assets $236,309 Current liabilities $151,309 Land 32,699 Bonds payable 101,309 Building 121,309 Common stock 182,699 Equipment 92,699 Retained earnings 46,699 Accum. depr.- building (30,000) Total $482,016 Accum. depr.- equipment (11,000) Patents 40,000 Total $482,016 The following information is available for 2010. 1. Net income was $57,223. 2. Equipment (cost $20,000 and accumulated depreciation $8,000) was sold for $9,000. 3. Depreciation expense was $5,309 on the building and $9,000 on equipment. 4. Patent amortization was $2,500. 5. Current assets other than cash increased by $25,000. Current liabilities increased by $14,309. 6. An addition to the building was completed at a cost of $28,309. 7. A long-term investment in stock was purchased for $16,000. 8.
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This document was uploaded on 11/30/2011.

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AE5-17 cha 5 wiley - AE5-17 Correct(Preparation of a...

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