1. 2. 3. 4. 5. Current Attempt in Progress Comparative balance sheets for Waterway Company are as follows. 6. Assets 7. Cash Show Transcribed Text Accounts receivable Inventory Additional information: Land Equipment Accumulated depreciation-equipment Total Waterway Company Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 3 Ć 2025 $78,100 85,500 181,700 83,000 252,000 $34,200 159,000 221,000 2024 (68,300) (44,700) $612,000 $540,400 197,800 $21,600 75,600 190,900 101,000 196,000 $47,100 210,000 162,000 121.300 $612,000 $540,400 Net income for 2025 was $144,000. Cash dividends of $67,500 were declared and paid. Bonds payable with a carrying value of $51,000 were redeemed for $51,000 cash. Common stock was issued at par for $59,000 cash. Depreciation expense was $23,600. Sales revenue for the year was $978,000. Land was sold at cost, and equipment was purchased for cash.
1. 2. 3. 4. 5. Current Attempt in Progress Comparative balance sheets for Waterway Company are as follows. 6. Assets 7. Cash Show Transcribed Text Accounts receivable Inventory Additional information: Land Equipment Accumulated depreciation-equipment Total Waterway Company Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 3 Ć 2025 $78,100 85,500 181,700 83,000 252,000 $34,200 159,000 221,000 2024 (68,300) (44,700) $612,000 $540,400 197,800 $21,600 75,600 190,900 101,000 196,000 $47,100 210,000 162,000 121.300 $612,000 $540,400 Net income for 2025 was $144,000. Cash dividends of $67,500 were declared and paid. Bonds payable with a carrying value of $51,000 were redeemed for $51,000 cash. Common stock was issued at par for $59,000 cash. Depreciation expense was $23,600. Sales revenue for the year was $978,000. Land was sold at cost, and equipment was purchased for cash.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
H1.
Account
Transcribed Image Text:1.
2.
3.
4.
5.
Current Attempt in Progress
Comparative balance sheets for Waterway Company are as follows.
Show Transcribed Text
6.
Assets
Additional information:
7.
Cash
Accounts receivable
Inventory
Land
Equipment
Accumulated depreciation-equipment
Total
Liabilities and Stockholders' Equity
Accounts payable
Bonds payable
Common stock ($1 par)
Retained earnings
Total
Waterway Company
Comparative Balance Sheets
December 31
Show Transcribed Text
J
2025
$78,100
85,500
181,700
83,000
$34,200
159,000
252,000
196,000
(68,300)
(44,700)
$612,000 $540,400
221,000
2024
197,800
$21,600
75,600
190,900
101,000
$47,100
210,000
162,000
121.300
$612,000 $540,400
Net income for 2025 was $144,000.
Cash dividends of $67,500 were declared and paid.
Bonds payable with a carrying value of $51,000 were redeemed for $51,000 cash.
Common stock was issued at par for $59,000 cash.
Depreciation expense was $23,600.
Sales revenue for the year was $978,000.
Land was sold at cost, and equipment was purchased for cash.
Transcribed Image Text:Balance Sheet Accounts
Total
$
Debits
Show Transcribed Text
Balance
12/31/24
Credits
$
Debit
$
$
WATERWAY COMPANY
Worksheet-Statement of Cash Flows
Balance
12/31/24
$
Credit
Debit
$
$
$
Reconciling Items
Balance
12/31/25
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