Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as...
Selected data for Kris Corporation’s comparative balance sheets
for Year 1 and Year 2 are as follows:
| Year 1 | Year 2 | |||||||
| Assets | ||||||||
| Cash | $ | 100,000 | $ | (50,000 | ) | |||
| Accounts receivable (net) | 50,000 | 100,000 | ||||||
| Inventory | 100,000 | 250,000 | ||||||
| Equipment (net) | 300,000 | 350,000 | ||||||
| Total assets | $ | 550,000 | $ | 650,000 | ||||
| Liabilities and Equity | ||||||||
| Accounts payable | $ | 150,000 | 100,000 | |||||
| Income taxes payable | 80,000 | 30,000 | ||||||
| Bonds payable | 100,000 | 80,000 | ||||||
| Common stock | 100,000 | 200,000 | ||||||
| Retained earnings | 120,000 | 240,000 | ||||||
| Total liabilities and Equity | $ | 550,000 | $ | 650,000 | ||||
The change in the balance of the common stock account would be recorded on the statement of cash flows as:
A) an increase of $100,000 under financing activities.
B) an increase of $100,000 under investing activities.
C) an increase of $100,000 under operating activities.
D) an increase of $300,000 under financing activities.
Homework Answers
Balance of common stock in year 1 = $100000
Balance of common stock in year 2 = $200000
Change in balance of common stock = $100000 ($200000-$100000)
Change in balance of common stock will be reported as an Increase of $100000 under financing activities
Add Answer to:
Selected data for Kris Corporation’s comparative balance sheets
for Year 1 and Year 2 are as...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 Assets Cash $ 100,000 $ (50,000 ) Accounts receivable (net) 50,000 100,000 Inventory 100,000 250,000 Equipment (net) 300,000 350,000 Total assets $ 550,000 $ 650,000 Liabilities and Equity Accounts payable $ 150,000 100,000 Income taxes payable 80,000 30,000 Bonds payable 100,000 80,000 Common stock 100,000 200,000 Retained earnings 120,000 240,000 Total liabilities and Equity $ 550,000 $ 650,000 The...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 Assets Cash $ 100,000 $ (50,000) Accounts receivable (net) 50,000 100,000 Inventory 100,000 250,000 Equipment (net) 300,000 350,000 Total assets $ 550,000 $ 650,000 Liabilities and Equity Accounts payable $ 150,000 100,000 Income taxes payable 80,000 30,000 Bonds payable 100,000 80,000 Common stock 100,000 200,000 Retained earnings 120,000 240,000 Total liabilities and Equity $ 550,000 $ 650,000 The change...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 Assets Cash $ 100,000 $ (50,000) Accounts receivable (net) 50,000 100,000 Inventory 100,000 250,000 Equipment (net) 300,000 350,000 Total assets $ 550,000 $ 650,000 Liabilities and Equity Accounts payable $ 150,000 100,000 Income taxes payable 80,000 30,000 Bonds payable 100,000 80,000 Common stock 100,000 200,000 Retained earnings 120,000 240,000 Total liabilities and Equity $ 550,000 $ 650,000 The change...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 Assets Cash $ 100,000 $ (50,000) Accounts receivable (net) 50,000 100,000 Inventory 100,000 250,000 Equipment (net) 300,000 350,000 Total assets $ 550,000 $ 650,000 Liabilities and Equity Accounts payable $ 150,000 100,000 Income taxes payable 80,000 30,000 Bonds payable 100,000 80,000 Common stock 100,000 200,000 Retained earnings 120,000 240,000 Total liabilities and Equity $ 550,000 $ 650,000 The change...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 Assets Cash $ 100,000 $ (50,000) Accounts receivable (net) 50,000 100,000 Inventory 100,000 250,000 Equipment (net) 300,000 350,000 Total assets $ 550,000 $ 650,000 Liabilities and Equity Accounts payable $ 150,000 100,000 Income taxes payable 80,000 30,000 Bonds payable 100,000 80,000 Common stock 100,000 200,000 Retained earnings 120,000 240,000 Total liabilities and Equity $ 550,000 $ 650,000 1. The...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as...
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 Assets Cash $ 100,000 $ (50,000 ) Accounts receivable (net) 50,000 100,000 Inventory 100,000 250,000 Equipment (net) 300,000 350,000 Total assets $ 550,000 $ 650,000 Liabilities and Equity Accounts payable $ 150,000 100,000 Income taxes payable 80,000 30,000 Bonds payable 100,000 80,000 Common stock 100,000 200,000 Retained earnings 120,000 240,000 Total liabilities and Equity $ 550,000 $ 650,000 Using...
Statement of Cash Flows Demonstration Problem The following comparative balance sheets are for Dells Corporation as...
Statement of Cash Flows Demonstration Problem The following comparative balance sheets are for Dells Corporation as of June 30, 2010, and June 30, 2017. Also provided is the statement of income and retained earnings for the year ended June 30, 2018, with additional data. Dells Company Comparative Balance Sheet June 30, 2018 and 2017 Assets 2018 2017 Increase/Decrease) Current Assets: Cash $30,000M $80,000 - L (550,000) — K Accounts Receivable, net 160,000 100,000 60,000 Merchandise Inventory 100,000 30,000 Prepaid Rent...
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...
Kapow, Inc. Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 $ 200,000 550,000 50,000...
Kapow, Inc. Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 $ 200,000 550,000 50,000 $800,000 $100,000 500,000 50,000 $650,000 Assets Total Current Assets Property, Plant, and Equipment, Net Other Assets Total Assets Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity $150,000 350,000 500,000 $100,000 250,000 350,000 300,000 $800,000 300,000 $650,000 Perform a vertical analysis of Kapow's balance sheet for each year. (Round to one decimal plac
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 58,000 $ 51,000 Accounts receivable 37,000 40,800 Inventory 85,000 88,800 Total current assets 180,000 180,600 Property, plant, and equipment 412,000 375,000 Less accumulated depreciation 192,000 150,000 Net property, plant, and equipment 220,000 225,000 Total assets $ 400,000 $ 405,600 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 36,000 $ 38,800 Accrued liabilities 72,000 78,800 Income taxes payable...
Statement of Cash Flows Demonstration Problem The following comparative balance sheets are for Dells Corporation as of June 30, 2010, and June 30, 2017. Also provided is the statement of income and retained earnings for the year ended June 30, 2018, with additional data. Dells Company Comparative Balance Sheet June 30, 2018 and 2017 Assets 2018 2017 Increase/Decrease) Current Assets: Cash $30,000M $80,000 - L (550,000) — K Accounts Receivable, net 160,000 100,000 60,000 Merchandise Inventory 100,000 30,000 Prepaid Rent...
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...
Kapow, Inc. Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 $ 200,000 550,000 50,000 $800,000 $100,000 500,000 50,000 $650,000 Assets Total Current Assets Property, Plant, and Equipment, Net Other Assets Total Assets Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity $150,000 350,000 500,000 $100,000 250,000 350,000 300,000 $800,000 300,000 $650,000 Perform a vertical analysis of Kapow's balance sheet for each year. (Round to one decimal plac
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