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1/1/14 12/31/14 Debits: Cash 80,000 175,000

1/1/14 12/31/14 Debits: Cash 80,000 175,000 Accounts receivable 37,000 75,000 Inventory 60,000 135,000 Land 30,000 67,000 Building 195,000 160,000 Patent 43,000 38,000

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1/1/14 12/31/14 Debits: Cash 80,000 175,000

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  1. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Accounts receivable 37,000 75,000 Inventory 60,000 135,000 Land 30,000 67,000 Building 195,000 160,000 Patent 43,000 38,000 Goodwill 30,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depreciation 75,000 73,000 Accounts payable 35,000 55,000 Operating exp. payable 15,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 257,000 475,000 668,000 OPERATING: INVESTING: FINANCING: Increase in cash 0 0 0

  2. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 75,000 Inventory 60,000 135,000 Land 30,000 67,000 Building 195,000 160,000 Patent 43,000 38,000 Goodwill 30,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 73,000 Accounts payable 35,000 55,000 Operating exp. Pay. 15,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income(1) 31,000 INVESTING: FINANCING: 31,000 31,000 Increase in cash 0 31,000 31,000

  3. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 75,000 Inventory 60,000 135,000 Land 30,000 67,000 Building 195,000 160,000 Patent 43,000 38,000 Goodwill 30,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 55,000 Operating exp. Pay. 15,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation(2) 33,000 INVESTING: FINANCING: 64,000 64,000 Increase in cash 0 64,00064,000

  4. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 75,000 Inventory 60,000 135,000 Land 30,000 67,000 Building 195,000 160,000 Patent 43,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 55,000 Operating exp. Pay. 15,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss(3) 12,000 INVESTING: FINANCING: . 76,000 76,000 Increase in cash 0 76,00076,000

  5. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 75,000 Inventory 60,000 135,000 Land 30,000 67,000 Building 195,000 160,000 Patent 43,000(4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 55,000 Operating exp. Pay. 15,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort.(4) 5,000 INVESTING: FINANCING: 81,000 81,000 Increase in cash 0 81,00081,000

  6. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 75,000 Inventory 60,000 135,000 Land 30,000 67,000 Building 195,000(5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (5) 35,000 (2) 33,000 73,000 Accounts payable 35,000 55,000 Operating exp. Pay. 15,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 INVESTING: Sale of building(5) 65,000 FINANCING: 201,000 201,000 Increase in cash 0 201,000201,000

  7. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000(6) 38,000 75,000 Inventory 60,000 135,000 Land 30,000 67,000 Building 195,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 55,000 Operating exp. Pay. 15,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables(6) 38,000 INVESTING: (5) 65,000 FINANCING: 239,000 239,000 Increase in cash 0 239,000239,000

  8. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 (6) 38,000 75,000 Inventory 60,000(7) 75,000 135,000 Land 30,000 67,000 Building 195,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 55,000 Operating exp. Pay. 15,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables (6) 38,000 Adj. – incr. in inventory(7) 75,000 INVESTING: Sale of building (5) 65,000 FINANCING: . 314,000 314,000 Increase in cash 0 314,000314,000

  9. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 (6) 38,000 75,000 Inventory 60,000 (7) 75,000 135,000 Land 30,000 67,000 Building 195,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000(8) 20,000 55,000 Operating exp. Pay. 15,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables (6) 38,000 Adj. – incr. in inventory (7) 75,000 Adj. – incr. in acc. pay.(8) 20,000 INVESTING: Sale of building (5) 65,000 FINANCING: 334,000 334,000 Increase in cash 0 334,000334,000

  10. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 (6) 38,000 75,000 Inventory 60,000 (7) 75,000 135,000 Land 30,000 67,000 Building 195,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 (8) 20,000 55,000 Operating exp. Pay. 15,000(9) 4,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables (6) 38,000 Adj. – incr. in inventory (7) 75,000 Adj. – incr. in acc. pay. (8) 20,000 Adj. – dec. in oper. ex. pay.(9) 4,000 INVESTING: Sale of building (5) 65,000 FINANCING: 338,000 338,000 Increase in cash 0 338,000338,000

  11. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 (6) 38,000 75,000 Inventory 60,000 (7) 75,000 135,000 Land 30,000 67,000 Building 195,000(10) 85,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 (8) 20,000 55,000 Operating exp. Pay. 15,000 (9) 4,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables (6) 38,000 Adj. – incr. in inventory (7) 75,000 Adj. – incr. in acc. pay. (8) 20,000 Adj. – dec. in oper. ex. pay. (9) 4,000 INVESTING: Sale of building (5) 65,000 Purchase of building(10) 85,000 FINANCING: 423,000 423,000 Increase in cash 0 423,000423,000

  12. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 (6) 38,000 75,000 Inventory 60,000 (7) 75,000 135,000 Land 30,000(11) 37,000 67,000 Building 195,000 (10) 85,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 (8) 20,000 55,000 Operating exp. Pay. 15,000 (9) 4,000 11,000 Dividends payable 0 6,000 Common stock 100,000 200,000 Add. paid-in capital 0 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables (6) 38,000 Adj. – incr. in inventory (7) 75,000 Adj. – incr. in acc. pay. (8) 20,000 Adj. – dec. in oper. ex. pay. (9) 4,000 INVESTING: Sale of building (5) 65,000 Purchase of building (10) 85,000 Purchase of land(11) 37,000 FINANCING: 460,000 460,000 Increase in cash 0 460,000460,000

  13. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 (6) 38,000 75,000 Inventory 60,000 (7) 75,000 135,000 Land 30,000 (11) 37,000 67,000 Building 195,000 (10) 85,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 (8) 20,000 55,000 Operating exp. Pay. 15,000 (9) 4,000 11,000 Dividends payable 0 6,000 Common stock 100,000(12) 100,000 200,000 Add. paid-in capital 0(12) 66,000 66,000 Retained earnings 250,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables (6) 38,000 Adj. – incr. in inventory (7) 75,000 Adj. – incr. in acc. pay. (8) 20,000 Adj. – dec. in oper. ex. pay. (9) 4,000 INVESTING: Sale of building (5) 65,000 Purchase of building (10) 85,000 Purchase of land (11) 37,000 FINANCING: Issuance of com. stock (12) 166,000 626,000 626,000 Increase in cash 0 626,000626,000

  14. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 (6) 38,000 75,000 Inventory 60,000 (7) 75,000 135,000 Land 30,000 (11) 37,000 67,000 Building 195,000 (10) 85,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 (8) 20,000 55,000 Operating exp. Pay. 15,000 (9) 4,000 11,000 Dividends payable 0(13) 6,000 6,000 Common stock 100,000 (12) 100,000 200,000 Add. paid-in capital 0 (12) 66,000 66,000 Retained earnings 250,000(13) 24,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables (6) 38,000 Adj. – incr. in inventory (7) 75,000 Adj. – incr. in acc. pay. (8) 20,000 Adj. – dec. in oper. ex. pay. (9) 4,000 INVESTING: Sale of building (5) 65,000 Purchase of building (10) 85,000 Purchase of land (11) 37,000 FINANCING: Issuance of com. stock (12) 166,000 Payment of cash div.(13)18,000 650,000 650,000 Increase in cash 0 650,000650,000

  15. 1/1/1412/31/14 Debits: Cash 80,000 175,000 Acc receivable 37,000 (6) 38,000 75,000 Inventory 60,000 (7) 75,000 135,000 Land 30,000 (11) 37,000 67,000 Building 195,000 (10) 85,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 (8) 20,000 55,000 Operating exp. Pay. 15,000 (9) 4,000 11,000 Dividends payable 0 (13) 6,000 6,000 Common stock 100,000 (12) 100,000 200,000 Add. paid-in capital 0 (12) 66,000 66,000 Retained earnings 250,000 (13) 24,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables (6) 38,000 Adj. – incr. in inventory (7) 75,000 Adj. – incr. in acc. pay. (8) 20,000 Adj. – dec. in oper. ex. pay. (9) 4,000 INVESTING: Sale of building (5) 65,000 Purchase of building (10) 85,000 Purchase of land (11) 37,000 FINANCING: Issuance of com. stock (12) 166,000 Payment of cash div. (13) 18,000 650,000650,000 Increase in cash 0 650,000650,000

  16. 1/1/1412/31/14 Debits: Cash 80,000 (X) 95,000175,000 Acc receivable 37,000 (6) 38,000 75,000 Inventory 60,000 (7) 75,000 135,000 Land 30,000 (11) 37,000 67,000 Building 195,000 (10) 85,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 (8) 20,000 55,000 Operating exp. Pay. 15,000 (9) 4,000 11,000 Dividends payable 0 (13) 6,000 6,000 Common stock 100,000 (12) 100,000 200,000 Add. paid-in capital 0 (12) 66,000 66,000 Retained earnings 250,000 (13) 24,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables (6) 38,000 Adj. – incr. in inventory (7) 75,000 Adj. – incr. in acc. pay. (8) 20,000 Adj. – dec. in oper. ex. pay. (9) 4,000 INVESTING: Sale of building (5) 65,000 Purchase of building (10) 85,000 Purchase of land (11) 37,000 FINANCING: Issuance of com. stock (12) 166,000 Payment of cash div. (13) 18,000 745,000 650,000 Increase in cash (X)95,000 745,000745,000

  17. 1/1/1412/31/14 Debits: Cash 80,000 (X) 95,000 175,000 Acc receivable 37,000 (6) 38,000 75,000 Inventory 60,000 (7) 75,000 135,000 Land 30,000 (11) 37,000 67,000 Building 195,000 (10) 85,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 (8) 20,000 55,000 Operating exp. Pay. 15,000 (9) 4,000 11,000 Dividends payable 0 (13) 6,000 6,000 Common stock 100,000 (12) 100,000 200,000 Add. paid-in capital 0 (12) 66,000 66,000 Retained earnings 250,000 (13) 24,000 (1) 31,000 257,000 475,000 668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables (6) 38,000 Adj. – incr. in inventory (7) 75,000 Adj. – incr. in acc. pay. (8) 20,000 Adj. – dec. in oper. ex. pay. (9) 4,000 INVESTING: Sale of building (5) 65,000 Purchase of building (10) 85,000 Purchase of land (11) 37,000 FINANCING: Issuance of com. stock (12) 166,000 Payment of cash div. (13) 18,000 745,000 650,000 Increase in cash (X) 95,000 745,000745,000

  18. 1/1/1412/31/14 Debits: Cash 80,000 (X) 95,000 175,000 Acc receivable 37,000 (6) 38,000 75,000 Inventory 60,000 (7) 75,000 135,000 Land 30,000 (11) 37,000 67,000 Building 195,000 (10) 85,000 (5) 120,000 160,000 Patent 43,000 (4) 5,000 38,000 Goodwill 30,000 (3) 12,000 18,000 475,000 668,000 Credits: Allow. for bad debts 0 0 Accum. depr. 75,000 (2) 33,000 73,000 Accounts payable 35,000 (8) 20,000 55,000 Operating exp. Pay. 15,000 (9) 4,000 11,000 Dividends payable 0 (13) 6,000 6,000 Common stock 100,000 (12) 100,000 200,000 Add. paid-in capital 0 (12) 66,000 66,000 Retained earnings 250,000 (13) 24,000 (1) 31,000 257,000 475,000668,000 OPERATING: Net income (1) 31,000 Adj. – depreciation (2) 33,000 Adj. – GW impair. loss (3) 12,000 Adj. – patent amort. (4) 5,000 Adj. – loss on sale of bldg. (5) 20,000 Adj. – incr. in receivables (6) 38,000 Adj. – incr. in inventory (7) 75,000 Adj. – incr. in acc. pay. (8) 20,000 Adj. – dec. in oper. ex. pay. (9) 4,000 INVESTING: Sale of building (5) 65,000 Purchase of building (10) 85,000 Purchase of land (11) 37,000 FINANCING: Issuance of com. stock (12) 166,000 Payment of cash div. (13) 18,000 745,000 650,000 Increase in cash (X) 95,000 745,000745,000

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