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Comparative Balance Sheet Shiner Corporation Assets Dec 31, 1996 Dec 31, 1995 Cash $37,000 $49,000 Accounts...
A comparative balance sheet for Flounder Corporation is presented as follows. Assets Cash Accounts receivable Inventory...
A comparative balance sheet for Flounder Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,690 $ 22,000 83,430 67,740 181,430 190,740 72,430 111,740 261,430 201,740 (70,430) (43,740) $600,980 $550,220 $35,430 150,000 214,000 201,550 $600,980 $ 48,740 200,000 164,000 137,480 $550,220 Additional information: 1. 2. Net income for 2020 was $127,860. No gains...
Below is the comparative balance sheet for Sarasota Corporation Dec. 31, 2017 Dec. 31, 2016 $16,500 24,800 43,000 $20,800 18,900 45,100 (1,900 ) 2,600 64,800 49,600 73,700 (22,800 ) 46,400 (15,400) 3...
Below is the comparative balance sheet for Sarasota Corporation Dec. 31, 2017 Dec. 31, 2016 $16,500 24,800 43,000 $20,800 18,900 45,100 (1,900 ) 2,600 64,800 49,600 73,700 (22,800 ) 46,400 (15,400) 38,700 (20,700) -0 Cash Short-term investments Accounts receivable Allowance for doubtful accounts Prepaid expenses Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Delivery equipment Accumulated depreciation-delivery equipment Patents (1,800 ) 4,100 81,600 49,600 124,700 (30,300) 52,800 (19,100 ) 38,700 (22,200 ) 15,000 $377,400 $299,800 $16,000 5,900 4,700 53,100 62,400...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 809,500 $ 869,830 Accounts...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 809,500 $ 869,830 Accounts receivable (net) 736,650 671,890 Inventories 1,117,110 1,028,070 Prepaid expenses 25,900 30,760 Land 278,470 420,940 Buildings 1,287,110 793,310 Accumulated depreciation-buildings (364,280) (339,990) Equipment 453,320 400,700 Accumulated depreciation-equipment (124,660) (140,040) Total assets $4,219,120 $3,735,470 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 801,630 $ 845,930 Bonds payable...
The balance sheet accounts of Rockwall Corporation at the beginning and end of 2016 are: 31-Dec-16...
The balance sheet accounts of Rockwall Corporation at the beginning and end of 2016 are: 31-Dec-16 1-Jan-16 Cash $99,435 $110,700 Accounts Receivable $424,600 $380,900 Inventory $635,740 $576,475 Prepaid Expenses $20,000 $12,000 Investment in subsidiary $200,000 $0 Held to Maturity Debt Securities $16,460 $14,850 Land $100,000 $100,000 Buildings $525,000 $400,000 Equipment $381,000 $290,000 Patents $86,000 $70,000 Trademarksb $25,000 $35,000 Bond Discount and issue costs $1,165 $6,075 Total Debits $2,514,400 $1,996,000 Accounts payable $534,000 $508,000 Income Taxes payable $68,000 $34,500 Salaries and...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Harris Industries Inc. at December 31,...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Harris Industries Inc. at December 31, 2014 and 2043, is as follows: Dec. 31, Dec. 31, 2014 2013 Assets Cash Accounts receivable (net) Inventories Prepaid expenses $443,240 665,280 887,880 $360,920 592,200 1,022,560 31,640 25,200 Land 302,400 302,400 Buildings 1,713,600 (466,200) 1,134,000 (414,540) Accumulated depreciation-buildings Machinery and equipment Accumulated depreciation-machinery and equipment 781,200 (214,200) 106,960 $4,251,800 781,200 (191,520) 112,000 $3,724,420 Patents Total assets $837,480 32,760 Liabilities and Stockholders' Equity Accounts payable...
Below are the income statement and comparative balance sheet of Doone Corporation for year ending Dec...
Below are the income statement and comparative balance sheet of Doone Corporation for year ending Dec 31, 2019 is given below. All amounts in Canadian dollars. Required: Prepare the cashflow statement, clearly including operating, financing and investing activities up to the net change in cash using the Indirect method as of Dec 31, 2019. Doone Corporation Income Statement For the Year ended Dec 31, 2019 Sales Revenue 780,000 Less: Cost of Goods Sold 360,000 Gross Profit 420,000 Less: Selling,...
A comparative balance sheet for Talkington Corporation is presented below. December 31 Assets 2017 2016 Cash...
A comparative balance sheet for Talkington Corporation is presented below. December 31 Assets 2017 2016 Cash Accounts receivable $ 68,100 $ 21,600 Inventory 82,800 33,000 Land 170,200 83,800 Equipment 71,400 74,000 Accumulated depreciation–equipment 280,500 212,400 Total (74,000) (42,000) $597,000 $545,000 Liabilities and Stockholders’ Equity Accounts payable $ 34,000 $ 47,000 Bonds payable 150,000 200,000 Common stock ($1 par) 164,000 164,000 Retained earnings 249,000 134,000 Total $597,000 $545,000 Additional information: 1. Net income for 2017 was $155,000; there were no gains...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
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 of $45,500 were declared and paid.
3.
Bonds...
Statement of Cash Flows The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 612,820 $ 661,020 Accounts receivable (net) 557,670 508,640
Statement of Cash FlowsThe comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1AssetsCash$ 612,820$ 661,020Accounts receivable (net)557,670508,640Inventories845,690778,280Prepaid expenses19,61023,290Land210,810318,670Buildings974,380600,560Accumulated depreciation-buildings(275,770)(257,380)Equipment343,180303,350Accumulated depreciation-equipment(94,370)(106,020)Total assets$3,194,020$2,830,410Liabilities and Stockholders' EquityAccounts payable (merchandise creditors)$ 606,860$ 640,400Bonds payable178,8700Common stock, $20 par210,00078,000Excess of paid-in capital over par505,000373,000Retained earnings1,693,2901,739,010Total liabilities and stockholders’ equity$3,194,020$2,830,410The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 20Y2 are as follows:ACCOUNT LandACCOUNT NO.BalanceDateItemDebitCreditDebitCredit20Y2Jan. 1Balance318,670Apr. 20Realized $100,300 cash from sale107,860210,810ACCOUNT BuildingsACCOUNT NO.BalanceDateItemDebitCreditDebitCredit20Y2Jan. 1Balance600,560Apr. 20Acquired for cash373,820974,380ACCOUNT Accumulated Depreciation-BuildingsACCOUNT NO.BalanceDateItemDebitCreditDebitCredit20Y2Jan....
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
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 of $45,500 were declared and paid.
3.
Bonds...
A comparative balance sheet for Flounder Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,690 $ 22,000 83,430 67,740 181,430 190,740 72,430 111,740 261,430 201,740 (70,430) (43,740) $600,980 $550,220 $35,430 150,000 214,000 201,550 $600,980 $ 48,740 200,000 164,000 137,480 $550,220 Additional information: 1. 2. Net income for 2020 was $127,860. No gains...
Below is the comparative balance sheet for Sarasota Corporation Dec. 31, 2017 Dec. 31, 2016 $16,500 24,800 43,000 $20,800 18,900 45,100 (1,900 ) 2,600 64,800 49,600 73,700 (22,800 ) 46,400 (15,400) 38,700 (20,700) -0 Cash Short-term investments Accounts receivable Allowance for doubtful accounts Prepaid expenses Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Delivery equipment Accumulated depreciation-delivery equipment Patents (1,800 ) 4,100 81,600 49,600 124,700 (30,300) 52,800 (19,100 ) 38,700 (22,200 ) 15,000 $377,400 $299,800 $16,000 5,900 4,700 53,100 62,400...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Harris Industries Inc. at December 31, 2014 and 2043, is as follows: Dec. 31, Dec. 31, 2014 2013 Assets Cash Accounts receivable (net) Inventories Prepaid expenses $443,240 665,280 887,880 $360,920 592,200 1,022,560 31,640 25,200 Land 302,400 302,400 Buildings 1,713,600 (466,200) 1,134,000 (414,540) Accumulated depreciation-buildings Machinery and equipment Accumulated depreciation-machinery and equipment 781,200 (214,200) 106,960 $4,251,800 781,200 (191,520) 112,000 $3,724,420 Patents Total assets $837,480 32,760 Liabilities and Stockholders' Equity Accounts payable...
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 of $45,500 were declared and paid.
3.
Bonds...
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 of $45,500 were declared and paid.
3.
Bonds...
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