Exercise 12-8 (Part Level Submission) Concord Corporation’s comparative balance sheets are presented below. Concord Corporation Comparative...
Exercise 12-8 (Part Level Submission)
Concord Corporation’s comparative balance sheets are presented below.
|
Concord Corporation |
||||||
|---|---|---|---|---|---|---|
|
2019 |
2018 |
|||||
| Cash |
$ 14,500 |
$ 10,700 |
||||
| Accounts receivable |
20,800 |
23,800 |
||||
| Land |
19,600 |
26,300 |
||||
| Buildings |
70,100 |
70,100 |
||||
| Accumulated depreciation—buildings |
(15,000 |
) |
(10,700 |
) |
||
| Total |
$110,000 |
$120,200 |
||||
| 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 2019. | |
| 3. | The land was sold for cash of $4,600. |
a. Prepare a statement of cash flows for 2019 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000, or in parenthesis e.g. (15,000).)
Homework Answers
| Statement of Cash Flows | ||
| For the Year Ended December 31, 2019 | ||
| Cash Flows from Operating Activities: | ||
| Net income | 22800 | |
| Adjustments to reconcile net income to | ||
| Net cash provided by operating activities | ||
| Depreciation expense | 4300 | |
| Loss on sale of Land (Plant assets) | 2100 | |
| Decrease in Accounts Receivable | 3000 | |
| Decrease in accounts payable | -16500 | |
| -7100 | ||
| Net cash provided by operating activities | 15700 | |
| Cash Flows from Investing Activities: | ||
| Sale of Land | 4600 | |
| Net Cash provided by Investing Activities | 4600 | |
| Cash Flows from Financing Activities | ||
| Payment of Cash Dividends | -18100 | |
| Issuance of Common Stock | 1600 | |
| Net Cash Used by Financing Activities | -16500 | |
| Net Increase in Cash | 3800 | |
| Cash at Beginning of Period | 10700 | |
| Cash at End of Period | 14500 |
Add Answer to:
Exercise 12-8 (Part Level Submission)
Concord Corporation’s comparative balance sheets are presented
below.
Concord Corporation
Comparative...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balanoe Sheets December 31 2020...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balanoe Sheets December 31 2020 2019 Cash $14,500 $10,700 Accounts receivable 20,800 23,800 Land 19,600 26,300 Buildings Accumulated deprediation-buildings 70,100 70,100 (15,000) $110,000 (10,700) $120,200 Total Accounts payable $11,800 $28,300 Common stock Retained eamings 75,000 73,400 23,200 18,500 Total $110,000 $120,200 Additional information: 1. Net income was $22,800. Dividends dedared and paid were $18,100, 2. No noncash investing and finandng 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 $14.500 $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...
Help me fill in the blanks! Prepare a statement of cash flows using the indirect method....
Help me fill in the blanks! Prepare a statement of cash flows
using the indirect method.
ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $10,700 23,800 26,300 70,100 (10,700) $14,500 20,800 19,600 70,100 (15,000) Total $110,000 $120,200 Accounts payable Common stock Retained earnings $11,800 75,000 23,200 $110,000 $28,300 73,400 18,500 $120,200 Total Additional information 1. Net income was $22,800. Dividends declared and paid were $18,100 2. No noncash investing and financing activities...
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
20,800
23,800
Land
19,600
26,300
Buildings
70,100
70,100
Accumulated depreciation—buildings
(15,000
)
(10,700
)
Total
$110,000
$120,200
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...
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...
Exercise 17-08 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December...
Exercise 17-08 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total $14,200 21,500 19,600 70,100 (15,400) $110,000 $11,000 23,500 25,800 70,100 (10,500) $ 119,900 Accounts payable Common stock Retained earnings Total $ 11,900 75,900 22,200 $110,000 $27,700 73,600 18,600 $ 119,900 Additional information: 1. Net income was $22,500. Dividends declared and paid were $18,900. 2. No noncash investing and financing activities occurred during 2020....
Question 1 Rojas Corporation's comparative balance sheets are presented below ROJAS CORPORATION Comparative Balance Sheets December...
Question 1 Rojas Corporation's comparative balance sheets are presented below ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $15,200 $10,600 20,700 20,300 69,900 23,500 26,300 69,900 (14,800) (10,500) Total $111,300 $119,800 Accounts payable Common stock Retained earnings $11,800 75,900 23,600 $28,300 71,600 19,900 111,300 $119,800 Total Additional information: 1. Net income was $23,100. Dividends declared and paid were $19,400 2. No noncash investing and financing activities occurred during 2017 3. The land...
Exercise 12-8 Blue Spruce Corp.'s comparative balance sheets are presented below. Blue Spruce Corp. Comparative Balance...
Exercise 12-8 Blue Spruce Corp.'s comparative balance sheets are presented below. Blue Spruce Corp. Comparative Balance Sheets December 31 2019 2018 15,200 $10,600 Cash 20,700 23,500 Accounts receivable 20,300 26,300 Land 69,900 69,900 Buildings (14,800) (10,500) Accumulated depreciation-buildings $111,300 $119,800 Total Accounts payable $11,800 $28,300 75,900 71,600 Common stock Retained earnings 23,600 19,900 $111,300 $119,800 Total Additional information: 1. Net income was $23,100. Dividends declared and paid were $19,400. 2. No noncash investing and financing activities occurred during 2019. 3....
Exercise 17-08 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December...
Exercise 17-08 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $15,100 Accounts receivable 21,500 Land 20,500 Buildings 70,100 Accumulated depreciation-buildings (15,000) Total $112,200 2019 $10,300 23,800 26,400 70,100 (10,300) $120,300 Accounts payable Common stock Retained earnings Total $12,500 75,800 23,900 $112,200 $28,400 73,100 18,800 $120,300 Additional information: 1. Net income was $22,200. Dividends declared and paid were $17,100. 2. No noncash investing and financing activities occurred during 2020. 3. The land...
Exercise 13-7 (Part Level Submission) Rojas Corporation's comparative balance sheets are presented belovw ROJAS CORPORATION Comparative...
Exercise 13-7 (Part Level Submission) Rojas Corporation's comparative balance sheets are presented belovw ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $14,200 $10,500 21,700 20,200 69,800 (15,200) 23,500 26,500 69,800 (11,000) Total $110,700 $119,300 Accounts payable Common stock Retained earnings $11,800 75,200 23,700 $110,700 $28,600 71,200 19,500 $119,300 Total Additional information 1. Net income was $22,200. Dividends declared and paid were $18,000 2. No noncash investing and financing activities occurred during 2017...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balanoe Sheets December 31 2020 2019 Cash $14,500 $10,700 Accounts receivable 20,800 23,800 Land 19,600 26,300 Buildings Accumulated deprediation-buildings 70,100 70,100 (15,000) $110,000 (10,700) $120,200 Total Accounts payable $11,800 $28,300 Common stock Retained eamings 75,000 73,400 23,200 18,500 Total $110,000 $120,200 Additional information: 1. Net income was $22,800. Dividends dedared and paid were $18,100, 2. No noncash investing and finandng 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 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...
Help me fill in the blanks! Prepare a statement of cash flows
using the indirect method.
ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $10,700 23,800 26,300 70,100 (10,700) $14,500 20,800 19,600 70,100 (15,000) Total $110,000 $120,200 Accounts payable Common stock Retained earnings $11,800 75,000 23,200 $110,000 $28,300 73,400 18,500 $120,200 Total Additional information 1. Net income was $22,800. Dividends declared and paid were $18,100 2. No noncash investing and financing activities...
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
20,800
23,800
Land
19,600
26,300
Buildings
70,100
70,100
Accumulated depreciation—buildings
(15,000
)
(10,700
)
Total
$110,000
$120,200
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...
Exercise 17-08 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total $14,200 21,500 19,600 70,100 (15,400) $110,000 $11,000 23,500 25,800 70,100 (10,500) $ 119,900 Accounts payable Common stock Retained earnings Total $ 11,900 75,900 22,200 $110,000 $27,700 73,600 18,600 $ 119,900 Additional information: 1. Net income was $22,500. Dividends declared and paid were $18,900. 2. No noncash investing and financing activities occurred during 2020....
Question 1 Rojas Corporation's comparative balance sheets are presented below ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $15,200 $10,600 20,700 20,300 69,900 23,500 26,300 69,900 (14,800) (10,500) Total $111,300 $119,800 Accounts payable Common stock Retained earnings $11,800 75,900 23,600 $28,300 71,600 19,900 111,300 $119,800 Total Additional information: 1. Net income was $23,100. Dividends declared and paid were $19,400 2. No noncash investing and financing activities occurred during 2017 3. The land...
Exercise 12-8 Blue Spruce Corp.'s comparative balance sheets are presented below. Blue Spruce Corp. Comparative Balance Sheets December 31 2019 2018 15,200 $10,600 Cash 20,700 23,500 Accounts receivable 20,300 26,300 Land 69,900 69,900 Buildings (14,800) (10,500) Accumulated depreciation-buildings $111,300 $119,800 Total Accounts payable $11,800 $28,300 75,900 71,600 Common stock Retained earnings 23,600 19,900 $111,300 $119,800 Total Additional information: 1. Net income was $23,100. Dividends declared and paid were $19,400. 2. No noncash investing and financing activities occurred during 2019. 3....
Exercise 17-08 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $15,100 Accounts receivable 21,500 Land 20,500 Buildings 70,100 Accumulated depreciation-buildings (15,000) Total $112,200 2019 $10,300 23,800 26,400 70,100 (10,300) $120,300 Accounts payable Common stock Retained earnings Total $12,500 75,800 23,900 $112,200 $28,400 73,100 18,800 $120,300 Additional information: 1. Net income was $22,200. Dividends declared and paid were $17,100. 2. No noncash investing and financing activities occurred during 2020. 3. The land...
Exercise 13-7 (Part Level Submission) Rojas Corporation's comparative balance sheets are presented belovw ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $14,200 $10,500 21,700 20,200 69,800 (15,200) 23,500 26,500 69,800 (11,000) Total $110,700 $119,300 Accounts payable Common stock Retained earnings $11,800 75,200 23,700 $110,700 $28,600 71,200 19,500 $119,300 Total Additional information 1. Net income was $22,200. Dividends declared and paid were $18,000 2. No noncash investing and financing activities occurred during 2017...
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