Dividends paid cr 25 ob 70 2 75 cb 20

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Unformatted text preview: 10 o/b 110 10 c/b 110 Income Tax Payable DR 80 Cash Paid for tax CR 80 o/b 95 95 c/b 80 Problem 13.18 Proceeds from sale of equipment Proceeds from borrowings Purchase of equipment Workings Sale of equipment Dr Cash Borrowings Increase in borrowings less equipment purchased by issuance of note: 1306020=50 Other equipment Equipment DR o/b c/b Accumulated Depreciation DR CR 40 o/b 20 15 35 c/b Accum. Depreciation for equipment sold 20 $70,000 $50,000 $20,000 70,000 80,000 10,000 Dr Accumulated Depreciation 20,000 (see Taccount below) Cr Equipment Cr Gain on sales CR 160 20 20 120 80 Additional equipment of 20 thousand was purchased during the year....
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This note was uploaded on 03/19/2012 for the course ACT 1511 taught by Professor Leon during the Three '12 term at University of New South Wales.

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