Homework Answers
Solution:
| Rojas Corporation | ||
| Statement of Cash Flows | ||
| For year ended 2017 | ||
| Particulars | Details | Amount |
| Cash Flow from Operating Activities: | ||
| Net Income | $22,800.00 | |
| Adjustments to reconcile net income to net cash provided by operations: | ||
| Depreciation Expense | $4,300.00 | |
| Loss on sale of land | $2,100.00 | |
| Decrease in accounts receivables ($23,800 - $20,800) | $3,000.00 | |
| Decrease in accounts payable ($28,300 - $11,800) | -$16,500.00 | |
| Net Cash provided by operating activities | $15,700.00 | |
| Cash Flow from Investing Activities: | ||
| Sale of land | $4,600.00 | |
| Net Cash Provided by Investing activities | $4,600.00 | |
| Cash Flow from Financing Activities: | ||
| Dividend Paid | -$18,100.00 | |
| Proceed from issue of common stock | $1,600.00 | |
| Net Cash used in financing activities | -$16,500.00 | |
| Net Increase / (Decrease) in Cash | $3,800.00 | |
| Cash balance at beginning of year | $10,700.00 | |
| Cash balance at end of year | $14,500.00 | |
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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 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...
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....
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...
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...
Exercise 17-7 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December...
Exercise 17-7 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 $15,000 21,100 19,700 70.000 (15.300) $10,700 23,900 25,900 70,000 (10,700) $119,800 Total $110.500 Accounts payable Common stock Retained earnings $11,900 75.400 23,200 $110.500 $28,600 72,300 18,900 $119,800 Total Additional information: 1. Net income was $22,900. Dividends declared and paid were $18,600. 2. No noncash investing and financing activities occurred during 2017 3. The land...
RACK 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14.900 Accounts receivable 21.500 Land...
RACK 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14.900 Accounts receivable 21.500 Land Buildings 70,100 Accumulated depreciation buildings (14.800) $111.00 $10,400 70,100 (10,700) 119.100 Accounts payable Commons $12.100 75.000 520,300 73.600 17,200 119.100 5111,400 1. Net income was 22,400. Dividends declared and paid were $15.700 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold for cash of 54.900 Prepare a statement of cash flows for 2020 using the indirect method (Show...
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...
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...
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 Comparative Balance Sheets December 31 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...
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 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...
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....
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...
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...
Exercise 17-7 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 $15,000 21,100 19,700 70.000 (15.300) $10,700 23,900 25,900 70,000 (10,700) $119,800 Total $110.500 Accounts payable Common stock Retained earnings $11,900 75.400 23,200 $110.500 $28,600 72,300 18,900 $119,800 Total Additional information: 1. Net income was $22,900. Dividends declared and paid were $18,600. 2. No noncash investing and financing activities occurred during 2017 3. The land...
RACK 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14.900 Accounts receivable 21.500 Land Buildings 70,100 Accumulated depreciation buildings (14.800) $111.00 $10,400 70,100 (10,700) 119.100 Accounts payable Commons $12.100 75.000 520,300 73.600 17,200 119.100 5111,400 1. Net income was 22,400. Dividends declared and paid were $15.700 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold for cash of 54.900 Prepare a statement of cash flows for 2020 using the indirect method (Show...
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...
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 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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