Question

The A Corporation had the following balance sheets for 2015 and 2016,
2015
2016
Cash
$
48.000
$
77.000
60,000
100,000
Accounts Receivable
Inventory
Prepaid Expenses
Equipment
Accumulated Depreciation
Patent
9,000
66,000
112,000
8.000
240,000
(41,000)
40,000
473,000
312,000
(66,000)
30,000
Total Assets
$
$
522.000
105.000
63.000
85,000
68,000
70,000
-
Accounts Payable
Expense payable
Long-term Notes Payable
Ordinary Share
Share Premium
Preference Share
Retained Emmings
Total Liabilities and Stockholders' equity
100,000
25,000
200.000
35,000
200,000
44,000
$
473.000
S
522.000
The retained earnings account was affected by net income of $29,000 and cash dividend of $20,000. No equipment was sold during
the period and share was issued for cash.

Answer 1

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