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Unformatted text preview: .............................................................. 2,262 13,572 Less: Dividends.................................................................................... 3,000 Retained earnings, December 31 ........................................................ $10,572 (c) ANDERSON COOPER CO. Balance Sheet December 31, 2014 Assets Current Assets Cash .................................................................... Accounts receivable .......................................... Prepaid rent ........................................................ Total current assets ..................................... Property, plant, and equipment Equipment .......................................................... $18,050 Accumulated depreciation – equipment ......................................................... (4,895) Total assets ....................................................................... Liabilities and Stockholders’ Equity Current liabilities Accounts payable .............................................. Interest payable.................................................. Notes payable..................................................... Total current liabilities ................................. Stockholders’ equity Common stock ................................................... $20,000 Retained earnings .............................................. 10,572* Total liabilities and stockholders’ equity ....................... *Beg. Balance + Net Income – Dividends = Ending Balance $11,310 + $2,262 – $3,000 = $10,572 $19,472 6,920 2,280 28,672 13,155 $41,827 $ 5,472 83 5,700 11,255 30,572 $41,827 PROBLEM 3-2 (a) Dec. 31 Accounts...
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This document was uploaded on 03/26/2014.

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