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Problem 21-167 12 The Murdock Corporation reported the following balance sheet data for 2018 and 2017:...
The Murdock Corporation reported the following balance sheet data for 2018 and 2017: 2018 2017...
The Murdock Corporation reported the following balance sheet data for 2018 and 2017: 2018 2017 Cash $ 97,355 $ 33,755 Available-for-sale debt securities (not cash equivalents) 24,500 103,000 Accounts receivable 98,000 84,450 Inventory 183,000 161,200 Prepaid insurance 3,120 3,800 Land, buildings, and equipment 1,286,000 1,143,000 Accumulated depreciation (628,000 ) (590,000 ) Total assets $ 1,063,975 $ 939,205 Accounts payable $ 92,540 $ 166,670 Salaries payable 27,200 33,500 Notes payable (current) 41,200 93,000 Bonds payable 218,000 0 Common stock 300,000...
1. the comparative balance sheets for 2018 and 2017 and the statement of income for 2018...
1.
the comparative balance sheets for 2018 and 2017 and the
statement of income for 2018 are given below for Wright Company.
Additional information from Wright's accounting records is provided
also.
WRIGHT COMPANY
Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018
2017
Assets
Cash
$
109
$
70
Accounts receivable
110
115
Short-term investment
52
24
Inventory
115
110
Land
82
100
Buildings and equipment
615
480
Less: Accumulated depreciation
(163
)
(115
)
$
920...
The balance sheet for Plasma Screens Corporation, along with additional information, are provided below. 2017 $...
The balance sheet for Plasma Screens Corporation, along with additional information, are provided below. 2017 $ PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2018 Assets: Current assets: Cash $ 114,250 Accounts receivable 79,200 Inventory 98,000 Prepaid rent 4,600 Long-term assets: Land 495,000 Equipment 802,000 Accumulated depreciation (431,000) 128,400 93,500 82,700 2,300 495,000 685,000 (274,000) Total assets $1,162,050 $1,212,900 Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity...
BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from...
BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Collections from customers $ 373, eee Interest on note receivable 4,400 Dividends received from 2,800 investments Purchase of inventory (190,000) Payment of operating expenses (63, 000) Payment of interest'on note payable (8,400) Net cash flows from operating activities $118, see Cash flows from investing activities: Collection of note receivable 120, eae Purchase of equipment (194,000) Net cash flows from investing activities (74,...
i Data Table 2018 2017 Current Assets: Cash $ 86,800 $ 64,200 87,000 17,000 69,000 82,000...
i Data Table 2018 2017 Current Assets: Cash $ 86,800 $ 64,200 87,000 17,000 69,000 82,000 Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable Income Tax Payable 58,000 14,700 55,600 16,500 i Data Table Transaction Data for 2018: Issuance of common stock for cash Depreciation expense Purchase of equipment with cash Acquisition of land by issuing long-term notes payable Book value of building sold $ 46,000 Payment of notes payable 17,000 Payment of cash dividends 69,000 Issuance of notes payable...
Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given...
Comparative balance sheets for 2018 and 2017 and a statement of
income for 2018 are given below for Metagrobolize Industries.
Additional information from the accounting records of Metagrobolize
also is provided.
METAGROBOLIZE INDUSTRIES
Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018
2017
Assets
Cash
$
560
$
370
Accounts receivable
710
370
Inventory
860
440
Land
700
670
Building
900
900
Less: Accumulated depreciation
(200
)
(160
)
Equipment
3,400
3,230
Less: Accumulated depreciation
(343
)...
The following are summary cash transactions that occurred during the year for Hiliard Healthcare Co. (HHC):...
The following are summary cash transactions that occurred during the year for Hiliard Healthcare Co. (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for : Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders $820,000 28,000 260,000 56,000 360,00 t nces 34,000 200,000 520, eee 46, Bee Prepare the cash flows from investing and financing activities sections of HHC's statement of cash flows....
Spreadsheet for Statement of Cash Flows Year Ended December 31, 2018 Transaction Analysis Balance Balance 12/31/2017 Pa...
Spreadsheet for Statement of Cash Flows Year Ended December 31, 2018 Transaction Analysis Balance Balance 12/31/2017 Panel A Balance Sheet: DEBIT CREDIT 12/31/2018 Cash Accounts Receivable 15,300 4,330 14,600 (500) 33,730 19,800 5,330 16,300 (700) Plant Assets 1,700 Accumulated Depreciation 40,730 Total Assets Accounts Payable 6,700 5,400 Common Stock, no par 5,300 28,130 22,830 4,200 33,730 5,500 Retained Earnings 7,200 40,730 Total Liabilities and Stockholders' Equity Panel B_Statement of Cash Flows: 200 Cash Flows from Operating Activities: Net Income Adjustments...
On January 1, 2018, Moore, a fast-food company, had a balance in its Cash account of...
On January 1, 2018, Moore, a fast-food company, had a balance in its Cash account of $47,400. During the 2018 accounting period, the company had (1) net cash inflow from operating activities of $29,600, (2) net cash outflow for investing activities of $37,000, and (3) net cash outflow from financing activities of $18,500. Required a. Prepare a statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) 29,600 MOORE COMPANY Statement of Cash Flows For...
X Data Table November 30, 2018 2017 16,500 $ Current assets: Cash and cash equivalents Accounts...
X Data Table November 30, 2018 2017 16,500 $ Current assets: Cash and cash equivalents Accounts receivable Inventories Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income tax payable 14,100 63,900 13,600 17,000 21,900 60,500 2,800 55,300 $ 57,800 $ 57,000 9,000 37,000 10,100 Х More Info Acquisition of land by issuing note payable Amortization expense Payment of cash dividend Cash purchase of equipment Issuance of long-term note payable to borrow cash Proceeds from sale of long- $ 118,000 term...
1.
the comparative balance sheets for 2018 and 2017 and the
statement of income for 2018 are given below for Wright Company.
Additional information from Wright's accounting records is provided
also.
WRIGHT COMPANY
Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018
2017
Assets
Cash
$
109
$
70
Accounts receivable
110
115
Short-term investment
52
24
Inventory
115
110
Land
82
100
Buildings and equipment
615
480
Less: Accumulated depreciation
(163
)
(115
)
$
920...
The balance sheet for Plasma Screens Corporation, along with additional information, are provided below. 2017 $ PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2018 Assets: Current assets: Cash $ 114,250 Accounts receivable 79,200 Inventory 98,000 Prepaid rent 4,600 Long-term assets: Land 495,000 Equipment 802,000 Accumulated depreciation (431,000) 128,400 93,500 82,700 2,300 495,000 685,000 (274,000) Total assets $1,162,050 $1,212,900 Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity...
BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Collections from customers $ 373, eee Interest on note receivable 4,400 Dividends received from 2,800 investments Purchase of inventory (190,000) Payment of operating expenses (63, 000) Payment of interest'on note payable (8,400) Net cash flows from operating activities $118, see Cash flows from investing activities: Collection of note receivable 120, eae Purchase of equipment (194,000) Net cash flows from investing activities (74,...
i Data Table 2018 2017 Current Assets: Cash $ 86,800 $ 64,200 87,000 17,000 69,000 82,000 Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable Income Tax Payable 58,000 14,700 55,600 16,500 i Data Table Transaction Data for 2018: Issuance of common stock for cash Depreciation expense Purchase of equipment with cash Acquisition of land by issuing long-term notes payable Book value of building sold $ 46,000 Payment of notes payable 17,000 Payment of cash dividends 69,000 Issuance of notes payable...
Comparative balance sheets for 2018 and 2017 and a statement of
income for 2018 are given below for Metagrobolize Industries.
Additional information from the accounting records of Metagrobolize
also is provided.
METAGROBOLIZE INDUSTRIES
Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018
2017
Assets
Cash
$
560
$
370
Accounts receivable
710
370
Inventory
860
440
Land
700
670
Building
900
900
Less: Accumulated depreciation
(200
)
(160
)
Equipment
3,400
3,230
Less: Accumulated depreciation
(343
)...
The following are summary cash transactions that occurred during the year for Hiliard Healthcare Co. (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for : Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders $820,000 28,000 260,000 56,000 360,00 t nces 34,000 200,000 520, eee 46, Bee Prepare the cash flows from investing and financing activities sections of HHC's statement of cash flows....
Spreadsheet for Statement of Cash Flows Year Ended December 31, 2018 Transaction Analysis Balance Balance 12/31/2017 Panel A Balance Sheet: DEBIT CREDIT 12/31/2018 Cash Accounts Receivable 15,300 4,330 14,600 (500) 33,730 19,800 5,330 16,300 (700) Plant Assets 1,700 Accumulated Depreciation 40,730 Total Assets Accounts Payable 6,700 5,400 Common Stock, no par 5,300 28,130 22,830 4,200 33,730 5,500 Retained Earnings 7,200 40,730 Total Liabilities and Stockholders' Equity Panel B_Statement of Cash Flows: 200 Cash Flows from Operating Activities: Net Income Adjustments...
On January 1, 2018, Moore, a fast-food company, had a balance in its Cash account of $47,400. During the 2018 accounting period, the company had (1) net cash inflow from operating activities of $29,600, (2) net cash outflow for investing activities of $37,000, and (3) net cash outflow from financing activities of $18,500. Required a. Prepare a statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) 29,600 MOORE COMPANY Statement of Cash Flows For...
X Data Table November 30, 2018 2017 16,500 $ Current assets: Cash and cash equivalents Accounts receivable Inventories Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income tax payable 14,100 63,900 13,600 17,000 21,900 60,500 2,800 55,300 $ 57,800 $ 57,000 9,000 37,000 10,100 Х More Info Acquisition of land by issuing note payable Amortization expense Payment of cash dividend Cash purchase of equipment Issuance of long-term note payable to borrow cash Proceeds from sale of long- $ 118,000 term...
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