ACC 560 help A Guide to career/uophelp.com ACC 560 help A Guide to career/uophelp.com | Page 65

Sept. 2
283,000 Cost of equipment constructed
Nov. 10
49,000 Cost of equipment sold
234,000
53,000
Accumulated Depreciation—Equipment
Date
Credit
Debit
Balance
Jan.
1
71,000 Balance
Nov. 10
30,000 Accumulated depreciation on equipment sold
41,000
Dec. 31
28,000 Depreciation for year
69,000
Retained Earnings
Date
Credit
Debit
Balance
Jan.
1
105,000 Balance
Aug. 23
91,000 Dividends (cash)
Dec. 31
77,000 Net income
168,000
Instructions
14,000