hapters 12 and 13 Question 15 of 15 2022 2021 Assets Cash $43,500 $33,500 Accounts...
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hapters 12 and 13 Question 15 of 15 2022 2021 Assets Cash $43,500 $33,500 Accounts receivable (net) 73.750 62.500 Prepaid insurance 28.750 19,500 Land 20.500 51.250 Equipment 72.500 62.500 Accumulated depreciation (23.750) (15.500) Total assets $215.250 $213.750 Liabilities and Stockholder's Equity Accounts payable $14.750 $8.500 Bonds payable 29,500 21.500 Common stock 147,500 117.500 Retained earnings 23.500 66,250 Total liabilities and stockholders' equity $215.250 $213.750 Additional information: 1. Net loss for 2022 is $26,250. 2. Cash dividends of $16,500 were declared and paid in 2022. 3. Land was sold for cash at a loss of $6,500. This was the only land transaction during the year. 4. Equipment with a cost of $20,000 and accumulated depreciation of $12,500 was sold for $7,500 cash. 5. $24.500 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $30,000. Adjustments to reconcile net income to $ >
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