GRADING: Worth 15 points. Partially completed problems wil

GRADING: Worth 15 points. Partially completed problems will not be accepted. If you complete all items requested you will earn at least half the points. The remaining points are dependent on accuracy of your answers! Cheating: Anyone who is discovered copying or allowing someone else to copy their answer will forfeit ALL extra credit points (and the opportunity to earn extra credit) for the entire semester. Konkweiser Inc. prepares quarterly financial statements. The balance sheet at 12/31/15 is presented below. Balance Sheet 12/31/2015 Cash $ 24300 Accounts payable $ 12370 Accounts receivable 22400 Common stock 90000 Allowance for doubtful accounts (1200) Retained earnings 53130 Equipment 20000 Accumulated depreciation – equipment (15000) Land 20000 Building 100000 Accumulated depreciation – building (15000) $ 155500 $155500

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