Increase and
Decrease
Assets
Cash 71, 500
A/R(net) 9,000
Inventories (8,000)
Land (45,000)
Building 60,000
Accumulated Depreciation-building 7,000
Total Assets 80,500
Liabilities
Accts payable (merch creditors) (3,200)
Accrued expenses payable (operating expenses) 2,200
Income taxes payable (500)
Dividends payable 4,000
Bonds Payable (50,000)
Total Liabilites (47,500)
Stockholders' Equity
Common stock 8,000
Pain-in capital in excess of par 40,000
Retained earnings 80,000
Total Stockhorders; equity 128,000
Total liabilities &equity 80,500
Net Income is $108,000
Decrease
Assets
Cash 71, 500
A/R(net) 9,000
Inventories (8,000)
Land (45,000)
Building 60,000
Accumulated Depreciation-building 7,000
Total Assets 80,500
Liabilities
Accts payable (merch creditors) (3,200)
Accrued expenses payable (operating expenses) 2,200
Income taxes payable (500)
Dividends payable 4,000
Bonds Payable (50,000)
Total Liabilites (47,500)
Stockholders' Equity
Common stock 8,000
Pain-in capital in excess of par 40,000
Retained earnings 80,000
Total Stockhorders; equity 128,000
Total liabilities &equity 80,500
Net Income is $108,000