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Question 2 of 2 -14 Cash ORIOLE CORPORATION Balance Sheet December 31, 2021 $26,400 Accounts payable 46,600 Common stock ($10 par) (1.500) Retained earnings $23.200 76,000 Accounts receivable Allowance for doubtful accounts Supplies Land 139,600 4,400 42.500 142.300 Buildings Accumulated depreciation-buildings (21,900 $238.800 $238,800 During 2022. the following transactions occurred. 1. 2. On January 1, 2022. Oriole issued 1,200 shares of $40 par, 8% preferred stock for $49.200. On January 1, 2022. Oriole also issued 1,000 shares of the $10 par value common stock for $20,600. Oriole performed services for $341,000 on account. On April 1, 2022, Oriole collected fees of $38,400 in advance for services to be performed from April 1, 2022, to March 31. 3. 4. 2023 5. Oriole collected $250,000 from customers on account Oriole bought $35,000 of supplies on account. 6. 7. Oriole paid $29.700 on accounts payable. 7. 8. 9. Oriole paid $29,700 on accounts payable Oriole reacquired 400 shares of its common stock on June 1, 2022. for $29 pershare. Paid other operating expenses of $182,400, On December 31, 2022. Oriole declared the annual preferred stock dividend and a $1.20 per share dividend on the outstanding common stock, all payable on January 15, 2023, An account receivable of $1,800 which originated in 2021 is written off as uncollectible. 10. . 11. Adjustment data: 1. 2 2 3. A count of supplies indicates that $6,500 of supplies remain unused at year-end, Recorded revenue from item 4 above, The allowance for doubtful accounts should have a balance of $3,700 at year end. ws Depreciation is recorded on the building on a straight-line basis based on a 30-year life and a salvage value of $10,900, The income tax rate is 30%. (Hint: Prepare the income statement up to income before income taxes and multiply by 30% to compute the amount.) 4. 5. al Prore jour other sted above. It is mindent when computer to Hoido entry murdele Nehrfor the account indeOfor the amounts Record journal entre the order or the problem No Account Titles and Explanation Debit Credit 2 5 Toba Media

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