Exercise 23-15 Presented below are data taken from the records of Blue Company December 31,...
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Accounting
Exercise 23-15 Presented below are data taken from the records of Blue Company December 31, 2017 December 31, 2016 Cash Current assets other than cash Long-term investments Plant assets $15,200 85,100 10,100 331,700 $442,100 $7,900 59,700 53,400 216,900 $337,900 Accumulated depreciation Current liabilities Bonds payable Common stock Retained earnings $40,400 22,100 $19,800 40,100 74,300 251,700 56,200 $442,100 251,700 23,700 $337,900 Additional information: 1. Held-to-maturity securities carried at a cost of $43,300 on December 31, 2016, were sold in 2017 for $34,400. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2 Plant assets that cost $50,000 and were 80% depreciated were sold during 2017 for $7,900. The loss was incorrectly charged directly to Retained Earnings 3. Net income as reported on the income statement for the year was $57,300 4. Dividends paid amounted to $13,800 5. Depreciation charged for the year was $19,400
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