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"iew Policies Current Attempt in Progress Alex Company reported the following...
-/8 Question 18 of 50 View Policies Current Attempt in Progress Pancho Company reported net income...
-/8 Question 18 of 50 View Policies Current Attempt in Progress Pancho Company reported net income of $240,000 for 2020. Pancho sold equipment that cost $108,000 and had a book value of $64,800 for $54,800. The comparative balance sheet shows a decrease in accounts receivable of $21,000 for the year, a $14,000 increase in accounts payable, a $3,000 increase in prepaid expenses, and a $19,000 increase in accumulated depreciation. Prepare the operating activities section of the statement of cash flows...
please answer asap, thank you! The following are the financial statements of Nosker Company. NOSKER COMPANY...
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The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $34.150 Accounts receivable $19,250 19,300 32,700 Inventory Equipment Accumulated depreciation-equipment 26,650 59,500 (29,900) $123,100 21,000 77,200 (23,200) $113,550 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,350 $ 16,550 7.2008,200 28.000 32,250 17.950 14,050 41.600 42.500 $123,100 $113,550 Total Retained earnings 41,600 42,500 Total $123,100 $113,550 NOSKER...
Question 3 View Policies Current Attempt in Progress The following information is available for Shamrock, Inc....
Question 3 View Policies Current Attempt in Progress The following information is available for Shamrock, Inc. for the year ended December 31, 2022. Beginning cash balance Accounts payable increase Depreciation expense Accounts receivable decrease Inventory decrease Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable decrease Cash used to purchase land Cash used to redeem bonds Cash received from issuing stock $ 43,200 10,260 73.800 8,640 5,580 102,960 187,200 68,400 7,020 145,800...
Question 6 0.5 View Policies Show Attempt History Current Attempt in Progress Your answer is partially...
Question 6 0.5 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. The current sections of Pronghorn Corp's balance sheets at December 31, 2021 and 2022, are presented here. Pronghorn Corp's net income for 2022 was $304,800. Depreciation expense was $50,400. 2022 2021 Current assets $74,400 $ 106,800 Cash Accounts receivable 102.000 82,800 Inventory 93,600 74,400 Prepaid expenses 20,400 22,800 $290,400 $286,800 Total current assets Current liabilities $ 19,200 $7,200 Accrued expenses payable 105,600 86,400...
6500 61500 View Policies Current Attempt in Progress The following information is available for Novak Corp....
6500 61500 View Policies Current Attempt in Progress The following information is available for Novak Corp. for the year ended December 31 2022 Beginning cash balance $36.000 Accounts payable increase 8.550 Depreciation expense Accounts receivable decrease 7200 Inventory decrease 4,650 Net income 85,800 Cash received for sale of land at book value 156,000 Cash dividends paid 57.000 Income taxes payable decrease 5.850 Cash used to purchase land 121.500 Cash used to redeem bonds 99.000 Cash received from issuing stock 240,000...
Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change...
Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change Increase/Decrease Assets 2022 2021 Cash $165,200 173,600 123,200 $100,800 61,600 $64,400 Increase 112,000 Increase Accounts receivable Inventory -0- 123,200 Increase Prepaid expenses 16,800 11,200 5,600 Increase Land 154,000 196,000 42,000 Decrease Buildings 560,000 560,000 -0- Accumulated depreciation-buildings (58,800) (39,200) 19,600 Increase Equipment 512,400 (78,400) 190,400 (28,000) 322,000 Increase 50,400 Increase Accumulated depreciation-equipment Totals $1,568,000 $1,052,800 Liabilities and Stockholders' Equity Accounts payable $120,400 $112,000 $8,400...
Gutierrez Company reported net income of $196,600 for 2020. Gutierrez also reported depreciation expense of $43,700...
Gutierrez Company reported net income of $196,600 for 2020. Gutierrez also reported depreciation expense of $43,700 and a loss of $4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $11,600 for the year, a $13,600 Increase in accounts payable, and a $3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method. (Show amounts that decrease cash flow with either...
Pharoah Company reported the following information for 2022. Pharoah Company Comparative Balance Sheets December 31 Assets...
Pharoah Company reported the following information for 2022. Pharoah Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $41,300 $25,200 43,400 15,400 Accounts receivable Inventory Prepaid expenses Change Increase/Decrease $16,100 Increase 28,000 Increase 30,800 Increase 1,400 Increase 10,500 Decrease 30,800 -0- 4,200 2,800 Land 38,500 49,000 140,000 140,000 -0- (14,700) (9,800) Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 128,100 47,600 4,900 Increase 80,500 Increase 12,600 Increase (19,600) (7.000) $392,000 $263,200 Totals $30,100 $28,000 0 7,000 Liabilities and Stockholders' Equity Accounts...
The income statement of Whitlock Company is presented here. WHITLOCK COMPANY Income Statement For the Year...
The income statement of Whitlock Company is presented here. WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2020 Sales revenue $7,564,900 Cost of goods sold Beginning inventory $1,836,300 Purchases 4,423,500 Goods available for sale 6,259,800 Ending inventory 1,305,000 Total cost of goods sold 4,954,800 Gross profit 2,610,100 Operating expenses 1,130,200 $1,479,900 Net income Additional information: 1. Accounts receivable increased $192,500 during the year, and inventory decreased $531,300. 2. Prepaid expenses increased $175,100 during the year. 3. Accounts payable...
Exercise 11-45 (Algorithmic) Partial Statement of Cash Flows Service Company had net income during the current...
Exercise 11-45 (Algorithmic) Partial Statement of Cash Flows Service Company had net income during the current year of $114,000. The following information was obtained from the balance sheet of Service Company: Accounts receivable $21,300 increase Inventory Accounts payable Interest payable 28,700 increase 14,240 decrease 3,180 increase 12,340 increase 27,800 increase Accumulated depreciation, building Accumulated depreciation, equipment Additional Information: 1. Equipment with accumulated depreciation of $15,000 was sold during the year. 2. Cash dividends of $36,000 were paid during the year....
-/8 Question 18 of 50 View Policies Current Attempt in Progress Pancho Company reported net income of $240,000 for 2020. Pancho sold equipment that cost $108,000 and had a book value of $64,800 for $54,800. The comparative balance sheet shows a decrease in accounts receivable of $21,000 for the year, a $14,000 increase in accounts payable, a $3,000 increase in prepaid expenses, and a $19,000 increase in accumulated depreciation. Prepare the operating activities section of the statement of cash flows...
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The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $34.150 Accounts receivable $19,250 19,300 32,700 Inventory Equipment Accumulated depreciation-equipment 26,650 59,500 (29,900) $123,100 21,000 77,200 (23,200) $113,550 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,350 $ 16,550 7.2008,200 28.000 32,250 17.950 14,050 41.600 42.500 $123,100 $113,550 Total Retained earnings 41,600 42,500 Total $123,100 $113,550 NOSKER...
Question 3 View Policies Current Attempt in Progress The following information is available for Shamrock, Inc. for the year ended December 31, 2022. Beginning cash balance Accounts payable increase Depreciation expense Accounts receivable decrease Inventory decrease Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable decrease Cash used to purchase land Cash used to redeem bonds Cash received from issuing stock $ 43,200 10,260 73.800 8,640 5,580 102,960 187,200 68,400 7,020 145,800...
Question 6 0.5 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. The current sections of Pronghorn Corp's balance sheets at December 31, 2021 and 2022, are presented here. Pronghorn Corp's net income for 2022 was $304,800. Depreciation expense was $50,400. 2022 2021 Current assets $74,400 $ 106,800 Cash Accounts receivable 102.000 82,800 Inventory 93,600 74,400 Prepaid expenses 20,400 22,800 $290,400 $286,800 Total current assets Current liabilities $ 19,200 $7,200 Accrued expenses payable 105,600 86,400...
6500 61500 View Policies Current Attempt in Progress The following information is available for Novak Corp. for the year ended December 31 2022 Beginning cash balance $36.000 Accounts payable increase 8.550 Depreciation expense Accounts receivable decrease 7200 Inventory decrease 4,650 Net income 85,800 Cash received for sale of land at book value 156,000 Cash dividends paid 57.000 Income taxes payable decrease 5.850 Cash used to purchase land 121.500 Cash used to redeem bonds 99.000 Cash received from issuing stock 240,000...
Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change Increase/Decrease Assets 2022 2021 Cash $165,200 173,600 123,200 $100,800 61,600 $64,400 Increase 112,000 Increase Accounts receivable Inventory -0- 123,200 Increase Prepaid expenses 16,800 11,200 5,600 Increase Land 154,000 196,000 42,000 Decrease Buildings 560,000 560,000 -0- Accumulated depreciation-buildings (58,800) (39,200) 19,600 Increase Equipment 512,400 (78,400) 190,400 (28,000) 322,000 Increase 50,400 Increase Accumulated depreciation-equipment Totals $1,568,000 $1,052,800 Liabilities and Stockholders' Equity Accounts payable $120,400 $112,000 $8,400...
Gutierrez Company reported net income of $196,600 for 2020. Gutierrez also reported depreciation expense of $43,700 and a loss of $4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $11,600 for the year, a $13,600 Increase in accounts payable, and a $3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method. (Show amounts that decrease cash flow with either...
Pharoah Company reported the following information for 2022. Pharoah Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $41,300 $25,200 43,400 15,400 Accounts receivable Inventory Prepaid expenses Change Increase/Decrease $16,100 Increase 28,000 Increase 30,800 Increase 1,400 Increase 10,500 Decrease 30,800 -0- 4,200 2,800 Land 38,500 49,000 140,000 140,000 -0- (14,700) (9,800) Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 128,100 47,600 4,900 Increase 80,500 Increase 12,600 Increase (19,600) (7.000) $392,000 $263,200 Totals $30,100 $28,000 0 7,000 Liabilities and Stockholders' Equity Accounts...
The income statement of Whitlock Company is presented here. WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2020 Sales revenue $7,564,900 Cost of goods sold Beginning inventory $1,836,300 Purchases 4,423,500 Goods available for sale 6,259,800 Ending inventory 1,305,000 Total cost of goods sold 4,954,800 Gross profit 2,610,100 Operating expenses 1,130,200 $1,479,900 Net income Additional information: 1. Accounts receivable increased $192,500 during the year, and inventory decreased $531,300. 2. Prepaid expenses increased $175,100 during the year. 3. Accounts payable...
Exercise 11-45 (Algorithmic) Partial Statement of Cash Flows Service Company had net income during the current year of $114,000. The following information was obtained from the balance sheet of Service Company: Accounts receivable $21,300 increase Inventory Accounts payable Interest payable 28,700 increase 14,240 decrease 3,180 increase 12,340 increase 27,800 increase Accumulated depreciation, building Accumulated depreciation, equipment Additional Information: 1. Equipment with accumulated depreciation of $15,000 was sold during the year. 2. Cash dividends of $36,000 were paid during the year....
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