Homework Answers
| Statement of Cash Flows | ||
| For the Year Ended December 31, 2020 | ||
| Cash Flows from Operating Activities: | ||
| Net income | 103400 | |
| Adjustments to reconcile net income to | ||
| Net cash provided by operating activities | ||
| Depreciation expense | 32000 | |
| Increase in Accounts Receivable | -15200 | |
| Decrease in inventory | 17000 | |
| Decrease in accounts payable | -11000 | |
| 22800 | ||
| Net cash provided by operating activities | 126200 | |
| Cash Flows from Investing Activities: | ||
| Sale of Land | 28500 | |
| Purchase of Equipment | -59600 | |
| Net Cash used by Investing Activities | -31100 | |
| Cash Flows from Financing Activities | ||
| Payment of Cash Dividends | -47000 | |
| Redemption of Bonds Payable | -52400 | |
| Issuance of Common Stock | 44300 | |
| Net Cash Used by Financing Activities | -55100 | |
| Net Increase in Cash | 40000 | |
| Cash at Beginning of Period | 33500 | |
| Cash at End of Period | 73500 |
Add Answer to:
Here are comparative balance sheets for Swifty Corporation Swifty Corporation Comparative Balance Sheets December 31 Assets...
Here are comparative balance sheets for Concord Corporation. Concord Corporation Comparative Balance Sheets December 31 Assets...
Here are comparative balance sheets for Concord Corporation. Concord Corporation Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable $32,600 70,600 186,500 Inventory Land $ 73,500 86,200 170,100 74.000 260,700 (65,600) $598,900 Equipment 100,400 200,700 (33,500) $557,300 Accumulated depreciation equipment Total Liabilities and Stockholders' Equity Accounts payable $ 35,100 150,200 $ 46,900 203.900 Bonds payable Common stock ($1 par) 215,100 198,500 175,800 130,700 Retained earnings Total $598,900 $557,300 Additional information: 1. Net income for 2020 was $102,300. 2....
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2019...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2019 2020 Cash $14,600 $10,300 23,900 Accounts receivable 21,600 Land 20,500 25,900 Buildings 70,200 70,200 Accumulated depreciation-buildings (14,500) (10,800) $112,400 $119,500 Total Accounts payable $12,000 $28,200 74,000 73,300 Common stock Retained earnings 18,000 26,400 $112,400 $119,500 Total Additional information : 1. Net income was $22,900. Dividends declared and paid were $14,500. 2. No noncash investing and financing activities occurred during 2020 3. The land was...
Exercise 12-9 Here are comparative balance sheets for Blossom Company. Blossom Company Comparative Balance Sheets December...
Exercise 12-9 Here are comparative balance sheets for Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2019 2018 Cash $ 73,500 $ 32,900 Accounts receivable 86,200 70,600 Inventory 169,600 187,200 Land 73,300 101,200 Equipment 259,600 200,700 Accumulated depreciation—equipment (66,400 ) (33,900 ) Total $595,800 $558,700 Liabilities and Stockholders’ Equity Accounts payable $ 35,300 $ 46,600 Bonds payable 151,500 203,000 Common stock ($1 par) 217,200 174,700 Retained earnings 191,800 134,400 Total $595,800 $558,700 Additional information: 1. Net income for...
Exercise 12-09 Here are comparative balance sheets for Larkspur, Inc.. Larkspur, Inc. Comparative Balance Sheets December...
Exercise 12-09 Here are comparative balance sheets for Larkspur, Inc.. Larkspur, Inc. Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total $ 72,800 86,400 170,200 72,800 260,000 (66,500) $595,700 $ 33,300 71,300 186,700 101,600 200,000 (33,800) $559,100 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $ 35,000 150,800 215,200 194,700 $595,700 $ 47,200 203,600 173,000 135,300 $559,100 Additional information: 1. Net income for 2020 was...
Here are comparative balance sheets for Velo Company. Velo Company Comparative Balance Sheets December 31 Assets...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $14.500 $10,700 Accounts receivable Land 20,800 19,600 70,100 23,800 26,300 70,100 Buildings Accumulated depreciation-buildings (15,000) $110,000 (10,700) $120,200 Total Accounts payable $11.800 $28,300 Common stock 75,000 73.400 Retained earnings 23,200 18,500 Total $110,000 $120.200 Additional information: 1. Net income was $22,800. Dividends declared and paid were $18,100. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold...
Rojas Corporation’s comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020...
Rojas Corporation’s comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $14,700 $11,000 Accounts receivable 21,100 23,800 Land 20,000 25,600 Buildings 70,000 70,000 Accumulated depreciation—buildings (15,400 ) (10,700 ) Total $110,400 $119,700 Accounts payable $12,300 $28,100 Common stock 74,600 73,800 Retained earnings 23,500 17,800 Total $110,400 $119,700 Additional information: 1. Net income was $23,000. Dividends declared and paid were $17,300. 2. No noncash investing and financing activities occurred during 2020. 3. The land...
Rojas Corporation's comparative balance sheets are presented below. 2019 ROJAS CORPORATION Comparative Balance Sheets December 31...
Rojas Corporation's comparative balance sheets are presented below. 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14,600 Accounts receivable 20,800 Land 19,800 Buildings 70,000 Accumulated depreciation-buildings (15,300) Total $109,900 $10,000 23,600 25,600 70,000 (10,900) $118,300 Accounts payable Common stock Retained earnings Total $12,100 74,900 22,900 $109,900 $27,800 71,000 19,500 $118,300 Additional information: 1. Net income was $22,600. Dividends declared and paid were $19,200. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold...
Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Comparative Balance Sheets December...
Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Comparative Balance Sheets December 31 Assets 2019 Cash $91,000 Accounts receivable 89,900 Inventory 121,000 Investments 84,300 Equipment 249,000 Accumulated depreciation equipment (49,200) $586,000 Liabilities and Stockholders' Equity Accounts payable $57,600 Accrued expenses payable 12,500 Bonds payable 102,000 Common stock 250,000 Retained earnings 163,900 $586,000 2018 $47,300 56,300 102,000 87,500 205,000 (39,900) $458,200 $ 48,200 18,600 69,200 191,000 131,200 $458,200 Swifty Corporation Income Statement For the Year Ended December...
Rodriquez Corporation's comparative balance sheets are presented below: RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2020...
Rodriquez Corporation's comparative balance sheets are presented below: RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2020 Cash $16,800 Accounts receivable 25,000 Investments 19,850 Equipment 60,050 Accumulated depreciation-equipment (14,150) Total $107,550 2019 $17,500 22,300 15,850 70,050 (10,500) $115,200 Accounts payable Bonds payable Common stock Retained earnings Total $14,550 10,500 49,800 32,700 $107,550 $11,150 30,100 45,400 28,550 $115,200 Additional information: 1. Net income was $18,550. Dividends declared and paid were $14,400. 2. Equipment which cost $10,000 and had accumulated depreciation of $2,000...
Here are comparative balance sheets for Concord Corporation. Concord Corporation Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable $32,600 70,600 186,500 Inventory Land $ 73,500 86,200 170,100 74.000 260,700 (65,600) $598,900 Equipment 100,400 200,700 (33,500) $557,300 Accumulated depreciation equipment Total Liabilities and Stockholders' Equity Accounts payable $ 35,100 150,200 $ 46,900 203.900 Bonds payable Common stock ($1 par) 215,100 198,500 175,800 130,700 Retained earnings Total $598,900 $557,300 Additional information: 1. Net income for 2020 was $102,300. 2....
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2019 2020 Cash $14,600 $10,300 23,900 Accounts receivable 21,600 Land 20,500 25,900 Buildings 70,200 70,200 Accumulated depreciation-buildings (14,500) (10,800) $112,400 $119,500 Total Accounts payable $12,000 $28,200 74,000 73,300 Common stock Retained earnings 18,000 26,400 $112,400 $119,500 Total Additional information : 1. Net income was $22,900. Dividends declared and paid were $14,500. 2. No noncash investing and financing activities occurred during 2020 3. The land was...
Exercise 12-09 Here are comparative balance sheets for Larkspur, Inc.. Larkspur, Inc. Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total $ 72,800 86,400 170,200 72,800 260,000 (66,500) $595,700 $ 33,300 71,300 186,700 101,600 200,000 (33,800) $559,100 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $ 35,000 150,800 215,200 194,700 $595,700 $ 47,200 203,600 173,000 135,300 $559,100 Additional information: 1. Net income for 2020 was...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $14.500 $10,700 Accounts receivable Land 20,800 19,600 70,100 23,800 26,300 70,100 Buildings Accumulated depreciation-buildings (15,000) $110,000 (10,700) $120,200 Total Accounts payable $11.800 $28,300 Common stock 75,000 73.400 Retained earnings 23,200 18,500 Total $110,000 $120.200 Additional information: 1. Net income was $22,800. Dividends declared and paid were $18,100. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold...
Rojas Corporation's comparative balance sheets are presented below. 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14,600 Accounts receivable 20,800 Land 19,800 Buildings 70,000 Accumulated depreciation-buildings (15,300) Total $109,900 $10,000 23,600 25,600 70,000 (10,900) $118,300 Accounts payable Common stock Retained earnings Total $12,100 74,900 22,900 $109,900 $27,800 71,000 19,500 $118,300 Additional information: 1. Net income was $22,600. Dividends declared and paid were $19,200. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold...
Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Comparative Balance Sheets December 31 Assets 2019 Cash $91,000 Accounts receivable 89,900 Inventory 121,000 Investments 84,300 Equipment 249,000 Accumulated depreciation equipment (49,200) $586,000 Liabilities and Stockholders' Equity Accounts payable $57,600 Accrued expenses payable 12,500 Bonds payable 102,000 Common stock 250,000 Retained earnings 163,900 $586,000 2018 $47,300 56,300 102,000 87,500 205,000 (39,900) $458,200 $ 48,200 18,600 69,200 191,000 131,200 $458,200 Swifty Corporation Income Statement For the Year Ended December...
Rodriquez Corporation's comparative balance sheets are presented below: RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2020 Cash $16,800 Accounts receivable 25,000 Investments 19,850 Equipment 60,050 Accumulated depreciation-equipment (14,150) Total $107,550 2019 $17,500 22,300 15,850 70,050 (10,500) $115,200 Accounts payable Bonds payable Common stock Retained earnings Total $14,550 10,500 49,800 32,700 $107,550 $11,150 30,100 45,400 28,550 $115,200 Additional information: 1. Net income was $18,550. Dividends declared and paid were $14,400. 2. Equipment which cost $10,000 and had accumulated depreciation of $2,000...
Most questions answered within 3 hours.
-
You capture data by having 8 people fill in 30 small dots on a
piece of...
asked 2 hours ago -
What are the z-values such that 70% of the area lies in the
middle of the...
asked 4 hours ago -
You borrow $29,500 to purchase a brand new car. The interest
rate is 6%, and the...
asked 4 hours ago -
The amount of time it takes an asteroid, whose average distance
from the Sun is 4.70...
asked 4 hours ago -
A 0.289 kg mass slides on a frictionless floor with a speed of
1.34 m/s. The...
asked 4 hours ago -
15.A box contains five red balls, three green balls, and two
yellow balls. Suppose you select...
asked 7 hours ago -
Assume you are given the following for Stackelberg industries:
Return on Assets (ROA) = 8%
Debt...
asked 5 hours ago -
an engineer proposes to use mmWave in 5G network to
increase data rate.
What are the...
asked 5 hours ago -
Explain the idea behind using SEMIJOIN in distributed
query processing.
asked 5 hours ago -
why
is context important in selecting and applying guidelines and
principles for interface design?
illustrate your...
asked 5 hours ago -
In a certain board game, a player rolls two fair six-sided dice
until the player rolls...
asked 7 hours ago -
You are going to deposit $3,200 in an account that pays .58
percent interest compounded quarterly....
asked 5 hours ago