During the following transactions occurred:
Paid prior year's accounts payable.
Received prior year's accounts receivable.
Purchased Carriages at $ each.
Paid down and will pay the rest later.
Sold Carriages for $ each with down cash and the other will get later.
Wrote off $ of uncollectible accounts receivable.
Paid taxes payable.
Paid cash for wages of $
Paid fourteen months' rent, $Be careful!
Paid $ for advertising for
Sold shares of common stock for $ each on September
Paid utility bill for $
On Dec paid annual payment on note payable of $ principal plus interest.
Paid a $ dividend to shareholders on December
Also, during the year the company paid of the taxes. They will pay the rest next year. The tax rate is The company uses the FIFO inventory system.
At December the company estimates that of the Accounts Receivable will not be collectible.
At Dec the company owed $ in wages which had not yet been paid.
The equipment originally cost $ had a twentyyear life and was expected to be worth $ at the end.
