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  • The Account Balances Taken From The General Ledger For Edwards

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    The document provides account balances from the general ledger of Edwards, Inc. as of December 31. It includes assets such as cash, accounts receivable, inventory, and property. It also includes liabilities like accounts payable, mortgage payable, and dividends payable. Equity accounts include common stock, preferred stock, retained earnings, and other equity accounts. Additional information is provided on authorized and issued preferred and common stock.

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    The document provides account balances from the general ledger of Edwards, Inc. as of December 31. It includes assets such as cash, accounts receivable, inventory, and property. It also includes liabilities like accounts payable, mortgage payable, and dividends payable. Equity accounts include common stock, preferred stock, retained earnings, and other equity accounts. Additional information is provided on authorized and issued preferred and common stock.

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    © All Rights Reserved
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    3 views1 page

    The Account Balances Taken From The General Ledger For Edwards

    Uploaded by

    trilocksp Singh
    The document provides account balances from the general ledger of Edwards, Inc. as of December 31. It includes assets such as cash, accounts receivable, inventory, and property. It also includes liabilities like accounts payable, mortgage payable, and dividends payable. Equity accounts include common stock, preferred stock, retained earnings, and other equity accounts. Additional information is provided on authorized and issued preferred and common stock.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    The account balances taken from the general ledger for

    Edwards
    The account balances taken from the general ledger for Edwards, Inc., are as follows: Accounts
    Payable .................... $ 345,046Accounts Receivable .................. 497,036Accumulated
    Depreciation—Building ........... 190,945Accumulated Depreciation—Equipment ..........
    104,650Allowance for Doubtful Accounts ............. 17,260Building ........................ 367,000Cash
    .............................. 63,545Common Stock, $ 15 stated value .................... 550,800Dividends
    Payable ........................................... 25,092Equipment ........................................................
    223,075Income Tax Payable .................................................... 63,036Land
    ............................................................................ 76,500Merchandise
    Inventory............................................................... 1,048,080Mortgage Payable (due in 7
    years)............................................. 149,000Notes Receivable
    ...................................................................... 38,560Paid- in Capital in Excess of Par Value
    .................................... 6,120Paid- in Capital in Excess of Stated Value .........
    132,160Patents....................................................................................... 25,000Preferred 8
    Percent Stock, $ 100 par value.......... 232,000Preferred 8 Percent Stock Subscribed (735
    shares) ..... 73,500Prepaid Insurance .....................................................................
    2,938Retained Earnings..................................................................... 326,500Retained Earnings
    Appropriated for Inventory Losses ... 25,700Retained Earnings Appropriated for Property
    Expansion... 49,000Stock Dividend Distributable (3,395 shares)....... 50,925Additional
    information is as follows: a. Preferred 8 percent stock: 3,000 shares authorized, 2,320 shares
    issued b. Common stock: 40,000 shares authorized, 36,720 shares issued Required Prepare a
    classified balance sheet dated December 31.View Solution: The account balances taken from
    the general ledger for Edwards
    SOLUTION-- http://solutiondone.online/downloads/the-account-balances-taken-from-the-
    general-ledger-for-edwards/

    Unlock answers here solutiondone.online

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