Problem 2.09%) Data relating to the balances of various accounts affected by adjusting or closing...
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Accounting
Problem 2.09%) Data relating to the balances of various accounts affected by adjusting or closing entries appear below. (The entries which caused the changes in the balances are not given) You are asked to supply the missing journal entries which would logically account for the changes in the account balances 1. Accumulated depreciation -equipment at 1/1/10 was 230,000. At 12/31/10 the balance of the account was 270,000. During 20i0, one piece of equipment was sold. The equipment had an original cost of 40,000 and was 3/4 depreciated when sold. You are to prepare the missing adjusting entry 2. Allowance for doubtful accounts on 1/1/10 was 50,000. The balance in the all account on 12/31/10 after making the annual adjusting entry was 65,000 and during 2010 bad debts written off amounted to 30,000. You are to provide the missing adjusting entry 3. Retained earnings at 1/1/10 was 150,000 and at 12/31/10 it was 210,000. During 2010, cash dividends of 50,000 were paid and a share dividend of 40,000 was issued. Both ing dividends were properly charged to retained earnings. You are to provide the missing clos
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