Analysis of Comparative Balance Sheets
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** Please see the attached file for the complete problem description **
Exercise 17-2
An analysis of comparative balance sheets, the current year's income statement, and the general ledger accounts of Solomon Corp. uncovered the following
items. Assume all items involve cash unless there is information to the contrary.
(a) Payment of interest on notes payable
(b) Exchange of land for patent
© Sale of building at book value
(d) Payment of dividends
e) depreciation
(f) Receipt of dividends on investment in stock
(g) Receipt of interest on notes receivable
(h) Issuance of capital stock
(i) Amortization of patent
(j) Issuance of bonds for land
(k) Purchase of land
(l) conversion of bonds into common stock
(m) loss on sale of land
(n) Retirement of bonds
(please see the attached file)
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Solution Summary
This solution provides a sample analysis of the given balance sheet in the given accounting question.
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