a. net income of 15,000 was earned in 20X6 b. depreciation charged on office equ

Question

a. net income of 15,000 was earned in 20X6 b. depreciation charged on office equipment was 600 c.office equipment that originally cost 700 and had been depreciated 500 was sold to an employee for its book value d. store equipment that cost 4500 was purchased during 20X6 e. fully depreciated store equipment that cost 600 was discardeed and its cost and accumulated depreciation were removed from the accounts. f. cash dicidends totaling 10,000 were declared and paid during the year. g. a 5% stock dividend was declared and distributed during the year at a time when the company's stock was selling at $8 per share.

Explanation / Answer

Net income = 15000 depreciation = (600) office equipment = 200 store equipment = (4500) discarded equipment = (600) cash decidends = (10000)

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