Homework Answers
1.
Dividend declared = Dividend payable 20X2+Dividend paid-Dividend payable 20X1
Dividend declared = $10,000+30,000-5,000 = $35,000
2.
Notes payable paid during 20X2 = $10,000
3.
Impact of change in inventory on cash = Increase in cash by $5,000
4.
Impact of change in accounts payable on cash = Decrease in cash by $8,000
5.
Net income 20X2 = Retained earnings 20X2+Dividend declared-Retained earnings 20X1
Net income 20X2 = $70,000+35,000-40,000 = $65,000
6.
Investments purchased during 20X2 = Ending balance+Sale of investment-Beginning balance
Investments purchased during 20X2 = $105,000+10,000-110,000 = $5,000
7.
Depreciation expense for 20X2 = Ending balance+Accumulated depreciation of van sold-Beginning balance
Depreciation expense for 20X2 = $50,000+17,000(20,000-3,000) - 20,000 = $47,000
8.
Working capital 20X2 = Current assets - Current liabilities
Working capital 20X2 (Beginning balance) = $(15,000+15,000+25,000) - (18,000+10,000+5,000)
Working capital 20X2 (Beginning balance) = $55,000 - 33,000 = $22,000
9.
Cash received on sale of marketable securities = $5,000+2,000 = $7,000
10.
Treasury stock sold during 20X2 = $0 (Treasury stock for $10,000 were repurchased during 20X2)
Add Answer to:
4 What were the AProblem 18 5 What was the amount of becoming more balance sheets...
Problem 18 The operations of the Great Rae Café, a small food service operation, are becoming...
Problem 18 The operations of the Great Rae Café, a small food service operation, are becoming more complex. Natalie Rae, the owner, has asked for your help in understanding the condensed balance sheets and the additional information provided. The Great Rae Café Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Cash $ 15,000 Accounts Receivable 15,000 Inventory 25,000 Investments (noncurrent) 110,000 Equipment 240,000 Accumulated Depreciation Total Assets $385,000 Current Liabilities: Accounts Payable $ 18,000 S Note Payable Dividends Payable...
as asked for your hela to present you with Regalo Pure comparative Bull the USALK Note:...
as asked for your hela to present you with Regalo Pure comparative Bull the USALK Note: the comparative app Problem 14 the owner of The Foxtail, a small lodging operation, has ask. erstanding the balance sheets for 20X1 and 20X2. She is able to pre aandensed balance sheets as follows: The Foxtail Condensed Balance Sheets December 31, 20X1 and 20X2 20X2 $ 20X1 $ 10,000 26,500 10,000 200,000 (20,000) $ 226,500 12,000 18,500 20,000 325,000 (64,000 $ 311,500 Cash Accounts...
ting activity, (3) a finance ation are becoming the aring her statement ets and some additional...
ting activity, (3) a finance ation are becoming the aring her statement ets and some additional 226 Chapter 4 Required: Identify each activity as (1) an operating activity, (2) an investing act activity (4) a non-cash activity, or (5) none of the above. Problem 25 The operations of North Shore Motel, a small lodging operation complex. Lu Wong, the owner, has asked for your help in preparin cash flows. She is able to present you with condensed balance sheets and...
6. What is the net book value of The Foxtail's fixed assets at the end of...
6. What is the net book value of The Foxtail's fixed assets at the end of 20X27 Mbit the owner of The Foxtail, a small lodging operation, has asked for your help in understanding the balance sheets for 20X1 and 20X2. She is able to present you with the Problem 14 the USALL. No PT AC Ot condensed balance sheets as follows: The Foxtail Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 $ 10,000 26,500 10,000 200,000 (20,000) $...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are as follows: The condensed bala Spartan Inn Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Assets Current Assets: 20X2 Cash $ $ Marketable Securities Accounts Receivable Inventory Total Current Assets Investments Property and Equipment: 30,000 50,000 100,000 20,000 200,000 100,000 40,000 50,000 95,000 25,000 210,000 60,000 500,000 5,000,000 1,000,000 (1,600,000) 4,900,000 $5,200,000 500,000 6,000,000 1,100,000 (2,000,000) 5,600,000 $5,870,000 Land Building Equipment Accumulated Depreciation...
74 Chapter 2 Problem 10 Alpha Café Unclassified Balance Sheets December 31, 20X1 and 20X2 20X2...
74 Chapter 2 Problem 10 Alpha Café Unclassified Balance Sheets December 31, 20X1 and 20X2 20X2 $ 30,000 30,000 26,000 18,000 25,000 555,000 (200,000) $484.000 20X1 $ 15,000 Cash 25,000 Marketable Securities 24,000 Accounts Receivable 20,000 Inventory 10,000 Prepaid Expenses 420,000 Equipment (180,000) Accumulated Depreciation $334,000 Total Assets ch Current Liabilities: Serene Accounts Payable $15,000 blonde Accrued Expenses 10,000 Dividends Payable 12 23,000 Mortgage Payable (current) e s lo 20,000 Mortgage Payable (long-term) 150,000 Common Stock 120,000 Treasury Stock nobstbewo...
i need help answering questions #7 through #11 How much treasury stock w 5. What was...
i
need help answering questions #7 through #11
How much treasury stock w 5. What was the amount of relate solely to ce per share 0. What was the amount of long 7. Assume the increas the sale of common stock during of common stock? 8. What was the networking clip stock was sold du For money raised by selling nt of long-term debt borrowed during 20x2? cretses in common stock and additional paid-in capital relate ring 20x2. What was...
Listed below are the comparative balance sheets for the current year (20X2) and for the prior...
Listed below are the comparative balance sheets for the current year (20X2) and for the prior year (20x1) of Johnson Corporation. 12/31/20x2 12/31/20X1 Cash Accounts receivable Inventory Prepaid expenses Investments Plant and equipment Accumulated depreciation Total Assets $ 59,000 45,000 29,000 5,000 200,000 535,000 (297,000) $ 576,000 27,000 41,000 10,000 230,000 520,000 (270,000) $ 594,000 Accounts payable Salaries payable Taxes payable Bonds payable Common stock Retained earnings Total Liabilities and Equity $ 19,000 37,000 27,000 10,000 130,000 353,000 $ 576,000...
Listed below are the comparative balance sheets for the current year (20X2) and for the prior...
Listed below are the comparative balance sheets for the current year (20X2) and for the prior year (20x1) of Johnson Corporation. 12/31/20X2 1 2/31/20X1 Cash Accounts receivable Inventory Prepaid expenses Investments Plant and equipment Accumulated depreciation Total Assets $ 59,000 45,000 29,000 5,000 200,000 535,000 (297,000) $ 576,000 $ 36,000 27,000 41,000 10,000 230,000 520,000 (270,000) $ 594,000 7 Accounts payable Salaries payable Taxes payable Bonds payable Common stock Retained earnings Total Liabilities and Equity $ 19,000 37,000 27,000 10,000...
cee the comparative balance sheets of Star Wars Hotel Corp., Inc. for the y 2019. orp.,...
cee the comparative balance sheets of Star Wars Hotel Corp., Inc. for the y 2019. orp., Inc. for the years 2018 and 2019 Star Wars Hotel Corp., Inc. Condensed Balance Sheets December 31, 2018 and 2019 Current assets: 2018 Cash $10,000 Marketable securities 35,000 Accounts receivable 26,500 Inventories 10,000 Prepaid Expenses 15,000 Noncurrent assets: Property, Plant & Equipment 200,000 Accumulated depreciation (20.000) Total Assets $276,500 $12,000 32,000 18,500 20,000 16,000 325,000 (64,000) $359,500 Current liabilities: Accounts payable Mortgage payable (current)...
Problem 18 The operations of the Great Rae Café, a small food service operation, are becoming more complex. Natalie Rae, the owner, has asked for your help in understanding the condensed balance sheets and the additional information provided. The Great Rae Café Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Cash $ 15,000 Accounts Receivable 15,000 Inventory 25,000 Investments (noncurrent) 110,000 Equipment 240,000 Accumulated Depreciation Total Assets $385,000 Current Liabilities: Accounts Payable $ 18,000 S Note Payable Dividends Payable...
as asked for your hela to present you with Regalo Pure comparative Bull the USALK Note: the comparative app Problem 14 the owner of The Foxtail, a small lodging operation, has ask. erstanding the balance sheets for 20X1 and 20X2. She is able to pre aandensed balance sheets as follows: The Foxtail Condensed Balance Sheets December 31, 20X1 and 20X2 20X2 $ 20X1 $ 10,000 26,500 10,000 200,000 (20,000) $ 226,500 12,000 18,500 20,000 325,000 (64,000 $ 311,500 Cash Accounts...
ting activity, (3) a finance ation are becoming the aring her statement ets and some additional 226 Chapter 4 Required: Identify each activity as (1) an operating activity, (2) an investing act activity (4) a non-cash activity, or (5) none of the above. Problem 25 The operations of North Shore Motel, a small lodging operation complex. Lu Wong, the owner, has asked for your help in preparin cash flows. She is able to present you with condensed balance sheets and...
6. What is the net book value of The Foxtail's fixed assets at the end of 20X27 Mbit the owner of The Foxtail, a small lodging operation, has asked for your help in understanding the balance sheets for 20X1 and 20X2. She is able to present you with the Problem 14 the USALL. No PT AC Ot condensed balance sheets as follows: The Foxtail Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 $ 10,000 26,500 10,000 200,000 (20,000) $...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are as follows: The condensed bala Spartan Inn Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Assets Current Assets: 20X2 Cash $ $ Marketable Securities Accounts Receivable Inventory Total Current Assets Investments Property and Equipment: 30,000 50,000 100,000 20,000 200,000 100,000 40,000 50,000 95,000 25,000 210,000 60,000 500,000 5,000,000 1,000,000 (1,600,000) 4,900,000 $5,200,000 500,000 6,000,000 1,100,000 (2,000,000) 5,600,000 $5,870,000 Land Building Equipment Accumulated Depreciation...
74 Chapter 2 Problem 10 Alpha Café Unclassified Balance Sheets December 31, 20X1 and 20X2 20X2 $ 30,000 30,000 26,000 18,000 25,000 555,000 (200,000) $484.000 20X1 $ 15,000 Cash 25,000 Marketable Securities 24,000 Accounts Receivable 20,000 Inventory 10,000 Prepaid Expenses 420,000 Equipment (180,000) Accumulated Depreciation $334,000 Total Assets ch Current Liabilities: Serene Accounts Payable $15,000 blonde Accrued Expenses 10,000 Dividends Payable 12 23,000 Mortgage Payable (current) e s lo 20,000 Mortgage Payable (long-term) 150,000 Common Stock 120,000 Treasury Stock nobstbewo...
i
need help answering questions #7 through #11
How much treasury stock w 5. What was the amount of relate solely to ce per share 0. What was the amount of long 7. Assume the increas the sale of common stock during of common stock? 8. What was the networking clip stock was sold du For money raised by selling nt of long-term debt borrowed during 20x2? cretses in common stock and additional paid-in capital relate ring 20x2. What was...
Listed below are the comparative balance sheets for the current year (20X2) and for the prior year (20x1) of Johnson Corporation. 12/31/20x2 12/31/20X1 Cash Accounts receivable Inventory Prepaid expenses Investments Plant and equipment Accumulated depreciation Total Assets $ 59,000 45,000 29,000 5,000 200,000 535,000 (297,000) $ 576,000 27,000 41,000 10,000 230,000 520,000 (270,000) $ 594,000 Accounts payable Salaries payable Taxes payable Bonds payable Common stock Retained earnings Total Liabilities and Equity $ 19,000 37,000 27,000 10,000 130,000 353,000 $ 576,000...
Listed below are the comparative balance sheets for the current year (20X2) and for the prior year (20x1) of Johnson Corporation. 12/31/20X2 1 2/31/20X1 Cash Accounts receivable Inventory Prepaid expenses Investments Plant and equipment Accumulated depreciation Total Assets $ 59,000 45,000 29,000 5,000 200,000 535,000 (297,000) $ 576,000 $ 36,000 27,000 41,000 10,000 230,000 520,000 (270,000) $ 594,000 7 Accounts payable Salaries payable Taxes payable Bonds payable Common stock Retained earnings Total Liabilities and Equity $ 19,000 37,000 27,000 10,000...
cee the comparative balance sheets of Star Wars Hotel Corp., Inc. for the y 2019. orp., Inc. for the years 2018 and 2019 Star Wars Hotel Corp., Inc. Condensed Balance Sheets December 31, 2018 and 2019 Current assets: 2018 Cash $10,000 Marketable securities 35,000 Accounts receivable 26,500 Inventories 10,000 Prepaid Expenses 15,000 Noncurrent assets: Property, Plant & Equipment 200,000 Accumulated depreciation (20.000) Total Assets $276,500 $12,000 32,000 18,500 20,000 16,000 325,000 (64,000) $359,500 Current liabilities: Accounts payable Mortgage payable (current)...
Most questions answered within 3 hours.
-
You have a yeast cell culture with a concentration of 5x10^4
cells/ml. If you dilute this...
asked 1 minute from now -
In which direction the Reaction goes? Show detailed process.
SeO3 + 2ClO2. + 2H3O <---> Se...
asked 11 minutes ago -
Unexposed silver halides are removed from photographic film when
they react with sodium thiosulfate
(Na2S2O3, called...
asked 12 minutes ago -
A 0.3054 gram sample of the mineral chalcopyrite (CuFeS2)
yielded 0.6525 gram BaSO4 precipitate. What is...
asked 12 minutes ago -
An short-seller in Tesla is worried the latest management
earnings forecast is too aggressive and the...
asked 58 minutes ago -
Question 3 (1 point)
Fill in the blank. Speed Car Rental company found that the tire...
asked 58 minutes ago -
1. A copper wire is 26.61 cm long and weighs 1.265 g. The
density of copper...
asked 36 minutes ago -
Remember that a concept sketch consists of a sketch (or
series of sketches), labels, and complete...
asked 38 minutes ago -
on a newly discovered planet, the period of a pendulum with a
length of 2 m...
asked 40 minutes ago -
Why [M(CN)6] is not organometallic even it has metal
to carbon bond too
asked 47 minutes ago -
mstar electric has a bond issue outstanding that has a 20 year
life, a $1,000 par...
asked 54 minutes ago -
This is a Business Writing Question:
Common Types of Faulty Sentence Logic:
A. Mixed constructions
B....
asked 55 minutes ago