ABC Company's accounting records reported the following account balances as of December 31, 2028: Inventory ................... $59,000 Trademark ................... $16,000 Interest revenue ............ $21,000 Accounts receivable ......... $44,000 Cost of goods sold .......... $30,000 Utilities expense ........... $29,000 Salaries payable ............ $14,000 Accumulated depreciation .... $37,000 Land ........................ ? Dividends ................... $ 9,000 Notes payable ............... $48,000 Common stock ................ ? Rental revenue .............. $35,000 Supplies .................... $23,000 Income tax expense .......... $18,000 Retained earnings ........... $57,000 (at Jan. 1, 2028) Sales revenue ............... $99,000 Equipment ................... $74,000 Copyright ................... $38,000 Accounts payable ............ $41,000 Salaries expense ............ $27,000 Cash ........................ $19,000 Additional information: The total equity at December 31, 2028 was $196,000. Calculate the balance in the land account at December 31, 2028. Please don't provide answer in image format thank you
ABC Company's accounting records reported the following
account balances as of December 31, 2028:
Inventory ................... $59,000
Trademark ................... $16,000
Interest revenue ............ $21,000
Accounts receivable ......... $44,000
Cost of goods sold .......... $30,000
Utilities expense ........... $29,000
Salaries payable ............ $14,000
Accumulated
Land ........................ ?
Dividends ................... $ 9,000
Notes payable ............... $48,000
Common stock ................ ?
Rental revenue .............. $35,000
Supplies .................... $23,000
Income tax expense .......... $18,000
Retained earnings ........... $57,000 (at Jan. 1, 2028)
Sales revenue ............... $99,000
Equipment ................... $74,000
Copyright ................... $38,000
Accounts payable ............ $41,000
Salaries expense ............ $27,000
Cash ........................ $19,000
Additional information:
The total equity at December 31, 2028 was $196,000.
Calculate the balance in the land account at
December 31, 2028.
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