Acc302 Intermediate Accounting: P22-6 The following partially completed worksheet (Perrin Company)

Acc302 Intermediate Accounting 
P22-6 Partially Completed Worksheet (Spreadsheet) 
The following partially completed worksheet has been prepared for the 2010 statement of cash flows of the Perrin Company: 
Balances Change Worksheet Entries 
Account Titles 12/31/09 12/31/10 Increase (Decrease) Debit Credit 
Debits 
Cash 800 1,540 
Noncash Accounts: 
Accounts receivable 1,500 2,180 
Inventory 3,100 6,055 
Investments in stock - 2,800 
Land 6,000 9,200 
Buildings 20,000 20,000 
Office equipment 4,000 6,100 
Delivery equipment 3,000 5,900 
Treasury stock - 2,000 
Totals $38,400 $55,775 ? 
Credits 
Accumulated depreciation 7,000 8,500 
Accounts payable 3,300 3,695 
Wages payable 600 500 
Bonds payable - 5,000 
Premium on bonds payable - 240 
Common stock, $10 par 6,000 8,200 
Additional paid-in capital 9,000 13,640 
Retained earnings ? ? 3,500 
Totals $38,400 $55,775 ? 

Other relevant information: 
(a) Beginning retained earnings 12,500 
Plus: Net income 8,000 
20,500 
Less: Stock dividends 840 
Cash dividends 3,660 4,500 
Ending retained earnings $16,000 
(b) Accumulated depreciation is a contra account for all the depreciable assets. Depreciation on these assets totaled $2,200 for the year. 
(c) On January 1, 2010 the company issued 10% bonds with a face value of $5,000 at 106. Interest was paid semiannually on June 30 and December 31. The bonds mature on January 1, 2012. Straight-line amortization is used for bond discount or premium. Bond interest expense was $440. 
(d) Land was purchased for $3,200 during the year. 
(e) Two hundred shares of common stock were issued for delivery equipment valued at $2,900 and office equipment valued at $3,100. 
(f) Twenty shares of stock were issued as a stock dividend. The market price per share was $42. 
(g) Office equipment with a cost of $1,000 and a book value of $300 was sold for $50. 
(h) Fifty shares of its own common stock were reacquired by the company as treasury stock. The company purchased the shares for $40 per share. 
(i) One hundred shares of Doe Company stock were purchased for $28 per share at year-end. 

Required 
Complete the worksheet (spreadsheet).
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