Category: BMGT 310

P5-7 Aero Inc. had the following balance sheet at December 31, 2011. AERO INC. Balance Sheet December 31, 2011 Cash                                          $ 20,000          Accounts payable        $ 30,000 Accounts receivable                      21,200          Bonds payable                41,000 Investments                                   32,000          Common stock              100,000 Plant assets (net)                            81,000          Retained earnings            23,200 Land                                             40,000                                                                                                              $194,200                                            $194,200  During 2012, the following occurred.  1.…

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E5.15.  Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31.                                                                                2012                    2011 Cash                                                                 $157,000              $ 78,000  Accounts receivable                                            180,000               185,000  Investments                                                          52,000                 74,000  Equipment                                                          298,000               240,000  Less: Acc’d dep’n—equip’t                                 -106,000               -89,000 Current liabilities                                                134,000               151,000  Capital stock                                                       160,000               160,000  Retained earnings                                               287,000              …

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