Prepare a solution to the following questions using excel. Print the solution and an excel formula...
Using the following Balance Sheet and additional information, prepare a Statement of Cash Flows for Charlie Company for 2018 on the following page: (30 points): CHARLIE COMPANY Comparative Balance Sheet Dec 31, 2018 Dec 31, 2017 Assets Cash $ 28,000 Accounts receivable 18,000 Prepaid expenses 7,000 Inventory 25,000 Long-term investments -0- Equipment 60,000 Accumulated depreciation equipment (18.000 Total assets $120,000 1 Liabilities and Stockholders' Equity $13,000 14,000 9,000 15,000 18,000 30,000 (14,000 585,000 Accounts payable Bonds payable Common stock Retained...
PLEASE HELP ME SOLD IT! Assume the year 2009 is FKG Inc.'s first year of operation. FKG Inc. carries the following investments on its books on December 31, 2009, and December 31, 2010. All securities were purchased during 2009 by cash. FKG Inc. has a fiscal year end on December 31. COMPANY COST FAIR VALUE, DEC. 31,2009 FAIR VALUE, DEC. 31,2010 A Company $25,000 $13,000 $20,000 B Company $13,000 $20,000 $20,000 C Company $210,000 $130,000 $50,000 Record the initial purchase...
I need to prepare a statement of cash flows using the indirect method using this information Assets: Dec. 31st, 2020 Dec. 1st, 2019 Cash 680,000 360,000 Investments 110,000 290,000 Accounts receivable 115,000 130,000 Inventory 230,000 195,000 Prepaid advertising 40,000 25,000 Property & Equipment, net 435,000 500,000 Patents, net 180,000 50,000 Total Assets 1,790,000 1,550,000 Liabilities & Stockholders’ Equity Accounts Payable 265,000 284,000 Wages Payable 30,000 21,000 Notes Payable 650,000 350,000 Common Stock & APIC 600,000 600,000 Treasury Stock (250,000) (50,000)...
CH 12 Information: Use the following to complete the CH 12 tab of the excel workbook provided on Blackboard. Browning Underwriting and Recapitalization Professionals (BURP) buys and sells securities in short-term periods. The following transactions relate to BURP activity in December of 2019, which has a fiscal year end of December 31. All of the following securities meet the criteria to be classified as trading securities and no other trading securities were held by BURP prior to December of 2019. ...
Problem 15-12 (AICPA Adapted) Nightmare Company provided the following information on December 31, 2019 regarding the portfolio of equity securities: Aggregate cost 1,700,000Unrealized gains 40,000Unrealized losses 260,000Net realized gains during the current year 300,000The equity investments are measured at fair value through other comprehensive income. On January 1, 2019, the entity reported an unrealized loss of P15,000 to reduce investments to market on a portfolio basis. In the December 31, 2019 statement of changes in equity what amount of unrealized loss should be reported? a. 260,000 b. 220,000 c....
Use the following information on a company's investments in debt securities. The company's accounting year ends December 31. Investment Date of Acquisition Cost Fair Value 12/31/19 Date Sold Selling Price Colt Company bonds 9/20/19 $38,000 $37,000 2/10/20 $42,000 Dana Company bonds 10/2/19 14,000 14,200 1/17/20 13,000 1. If the above debt investments are categorized as trading securities, what amount is reported for gain or loss on securities in 2019 income? 2. If the above debt investments are categorized as trading...
Use the following information on a company's investments in debt securities. The company's accounting year ends December 31. Investment Date of Acquisition Cost Fair Value 12/31/19 Date Sold Selling Price Colt Company bonds 9/20/19 $38,000 $37,000 2/10/20 $42,000 Dana Company bonds 10/2/19 14,000 14,200 1/17/20 13,000 1. If the above debt investments are categorized as trading securities, what amount is reported for gain or loss on securities in 2019 income? 2. If the above debt investments are categorized as trading...
On December 31, 2018, Marsh Company held Xenon Company bonds in
its portfolio of available-for-sale securities. The bonds have a
par value of $14,000, carry a 10% annual interest rate, mature in
2025, and had originally been purchased at par. The market value of
the bonds at December 31, 2018 was $12,000. The December 31, 2018,
balance sheet showed the following:
Marsh Company
Partial Balance Sheet
December 31, 2018
1
Assets
2
Investment in Available-for-Sale Securities
$14,000.00
3
Less: Allowance...
Question 16 A comparative balance sheet for Rocker Company appears below: Dec. 31, 2019 ROCKER COMPANY Comparative Balance Sheet Dec. 31, 2020 Assets Cash $34,000 Accounts receivable 18,000 Inventory 25,000 Prepaid expenses 6,000 Long-term investments Equipment 60,000 Accumulated depreciation-equipment (20,000) Total assets $123,000 Liabilities and Stockholder's Equity Accounts payable $17,000 Bonds payable 36,000 Common stock 40,000 Retained earnings 30,000 Total liabilities and stockholders' equity $123,000 $11,000 13,000 17,000 9,000 17,000 33,000 (15,000) $85,000 $7,000 45,000 23,000 10,000 $85,000 Additional information:...
investments
E9.13 (LO 4) (Debt Investment Entries-FV-OCI) Assume the same information as in E9.12, ex- cept that the bonds are carried at FV-OCI. The fair value of the bonds at December 31 of each year end is as follows: 2019 $320,500 2020 $309,000 Instructions a. Prepare the journal entries to record the interest received and recognition of fair value for 2019. b. Prepare the journal entries to record the recognition of fair value for 2020 and assuming the sale of...