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The following is a condensed version of the comparative balance sheets for Nash Corporation for the...
The following is a condensed version of the comparative balance sheets for Buffalo Corporation for the...
The following is a condensed version of the comparative balance sheets for Buffalo Corporation for the last two years at December 31. 2020 2019 Cash $ 371,700 $ 163,800 Accounts receivable 378,000 388,500 Investments 109,200 155,400 Equipment 625,800 504,000 Accumulated Depreciation-Equipment (222,600 ) (186,900 ) Current liabilities 281,400 317,100 Common stock 336,000 336,000 Retained earnings 644,700 371,700 Additional information: Investments were sold at a loss of $21,000; no equipment was sold; cash dividends paid were $63,000; and net income was...
The following is a condensed version of the comparative balance sheets for Coronado Corporation for the...
The following is a condensed version of the comparative balance sheets for Coronado Corporation for the last two years at December 31. 2020 $389,400 2019 $171,600 Cash Accounts receivable 396,000 407,000 Investments 114,400 162,800 655,600 528,000 Equipment Accumulated Depreciation Equipment Current liabilities (233,200) (195,800) 294,800 332,200 352,000 352,000 675,400 389,400 Common stock Retained earnings Additional information: Investments were sold at a loss of $ 22,000; no equipment was sold; cash dividends paid were $66,000, and net income was $352,000. Prepare...
Presented below is a condensed version of the comparative balance sheets for Bramble Corporation for the...
Presented below is a condensed version of the comparative balance sheets for Bramble Corporation for the last two years at December 31. 2017 2016 Cash $178,500 $49,000 Accounts receivable 115,900 76,800 Investments 68,900 98,300 Equipment Accumulated depreciation equipment Current liabilities 350,900 177,300 (95,100) (65,700) 135,300 91,900 142,500 62,500 333,700 173,700 Common stock Retained earnings Additional information: Investments were sold at a gain of $10,300; no investments were purchased; no equipment was sold; cash dividends paid were $43,500; and net income...
Exercise 5-15 The following is a condensed version of the comparative balance sheets for Wildhorse Corporation...
Exercise 5-15 The following is a condensed version of the comparative balance sheets for Wildhorse Corporation for the last two years at December 31. Cash Accounts receivable Investments Equipment Accumulated Depreciation Equipment Current liabilities Common stock Retained earnings 2020 $ 318,600 324,000 93,600 536,400 (190,800 ) 241,200 288,000 552,600 2019 $ 140,400 333,000 133,200 432,000 (160,200) 271,800 288,000 318,600 Additional information: Investments were sold at a loss of $18,000; no equipment was sold; cash dividends paid were $54,000; and net...
The following is a condensed version of the comparative balance sheets for Cheyenne Corporation for the...
The following is a condensed version of the comparative balance sheets for Cheyenne Corporation for the last two years at December 31. 2020 Cash Accounts receivable Investments Equipment Accumulated Depreciation-Equipment Current liabilities Common stock Retained earnings $ 247,800 252,000 72,800 417,200 (148,400) 187,600 224,000 429,800 2019 $ 109,200 259,000 103,600 336,000 (124,600) 211,400 224,000 247,800 Additional information: Investments were sold at a loss of $14,000; no equipment was sold; cash dividends paid were $42,000; and net income was $224,000. (a)...
Exercise 5-15 Presented below is a condensed version of the comparative balance sheets for Splish Corporation...
Exercise 5-15 Presented below is a condensed version of the comparative balance sheets for Splish Corporation for the last two years at December 31. 2017 2016 Cash Accounts receivable Investments Equipment Accumulated Depreciation-Equipment $ 265,500 270,000 78,000 447,000 (159,000 ) 201,000 240,000 460,500 $ 117,000 277,500 111,000 360,000 (133,500 ) 226,500 240,000 265,500 Current liabilities Common stock Retained earnings Additional information: Investments were sold at a loss of $15,000; no equipment was sold; cash dividends paid were $45,000; and net...
Rodriquez Corporation's comparative balance sheets are presented below: RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2020...
Rodriquez Corporation's comparative balance sheets are presented below: RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2020 Cash $16,800 Accounts receivable 25,000 Investments 19,850 Equipment 60,050 Accumulated depreciation-equipment (14,150) Total $107,550 2019 $17,500 22,300 15,850 70,050 (10,500) $115,200 Accounts payable Bonds payable Common stock Retained earnings Total $14,550 10,500 49,800 32,700 $107,550 $11,150 30,100 45,400 28,550 $115,200 Additional information: 1. Net income was $18,550. Dividends declared and paid were $14,400. 2. Equipment which cost $10,000 and had accumulated depreciation of $2,000...
The comparative balance sheets of Pronghorn Corporation at the beginning and end of the year 2020...
The comparative balance sheets of Pronghorn Corporation at the beginning and end of the year 2020 appear below. Inc./Dec. PRONGHORN CORPORATION BALANCE SHEETS Dec. 31, 2020 Jan 1, 2020 Assets Cash $22,120 $14,770 Accounts receivable 108,120 89,770 Equipment 41,120 23,770 Less: Accumulated Depreciation-Equipment (17,000) (11,000) Total $154,360 $117,310 Liabilities and Stockholders' Equity Accounts payable $22,120 $16,770 Common stock 102,120 81,770 Retained earnings 30,120 18,770 Total $154,360 $117,310 $7,350 Inc. 18,350 Inc. 17,350 Inc. 6,000 Inc. 5,350 Inc. 20,350 Inc. 11,350...
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...
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...
The following is a condensed version of the comparative balance sheets for Coronado Corporation for the last two years at December 31. 2020 $389,400 2019 $171,600 Cash Accounts receivable 396,000 407,000 Investments 114,400 162,800 655,600 528,000 Equipment Accumulated Depreciation Equipment Current liabilities (233,200) (195,800) 294,800 332,200 352,000 352,000 675,400 389,400 Common stock Retained earnings Additional information: Investments were sold at a loss of $ 22,000; no equipment was sold; cash dividends paid were $66,000, and net income was $352,000. Prepare...
Presented below is a condensed version of the comparative balance sheets for Bramble Corporation for the last two years at December 31. 2017 2016 Cash $178,500 $49,000 Accounts receivable 115,900 76,800 Investments 68,900 98,300 Equipment Accumulated depreciation equipment Current liabilities 350,900 177,300 (95,100) (65,700) 135,300 91,900 142,500 62,500 333,700 173,700 Common stock Retained earnings Additional information: Investments were sold at a gain of $10,300; no investments were purchased; no equipment was sold; cash dividends paid were $43,500; and net income...
Exercise 5-15 The following is a condensed version of the comparative balance sheets for Wildhorse Corporation for the last two years at December 31. Cash Accounts receivable Investments Equipment Accumulated Depreciation Equipment Current liabilities Common stock Retained earnings 2020 $ 318,600 324,000 93,600 536,400 (190,800 ) 241,200 288,000 552,600 2019 $ 140,400 333,000 133,200 432,000 (160,200) 271,800 288,000 318,600 Additional information: Investments were sold at a loss of $18,000; no equipment was sold; cash dividends paid were $54,000; and net...
The following is a condensed version of the comparative balance sheets for Cheyenne Corporation for the last two years at December 31. 2020 Cash Accounts receivable Investments Equipment Accumulated Depreciation-Equipment Current liabilities Common stock Retained earnings $ 247,800 252,000 72,800 417,200 (148,400) 187,600 224,000 429,800 2019 $ 109,200 259,000 103,600 336,000 (124,600) 211,400 224,000 247,800 Additional information: Investments were sold at a loss of $14,000; no equipment was sold; cash dividends paid were $42,000; and net income was $224,000. (a)...
Exercise 5-15 Presented below is a condensed version of the comparative balance sheets for Splish Corporation for the last two years at December 31. 2017 2016 Cash Accounts receivable Investments Equipment Accumulated Depreciation-Equipment $ 265,500 270,000 78,000 447,000 (159,000 ) 201,000 240,000 460,500 $ 117,000 277,500 111,000 360,000 (133,500 ) 226,500 240,000 265,500 Current liabilities Common stock Retained earnings Additional information: Investments were sold at a loss of $15,000; no equipment was sold; cash dividends paid were $45,000; and net...
Rodriquez Corporation's comparative balance sheets are presented below: RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2020 Cash $16,800 Accounts receivable 25,000 Investments 19,850 Equipment 60,050 Accumulated depreciation-equipment (14,150) Total $107,550 2019 $17,500 22,300 15,850 70,050 (10,500) $115,200 Accounts payable Bonds payable Common stock Retained earnings Total $14,550 10,500 49,800 32,700 $107,550 $11,150 30,100 45,400 28,550 $115,200 Additional information: 1. Net income was $18,550. Dividends declared and paid were $14,400. 2. Equipment which cost $10,000 and had accumulated depreciation of $2,000...
The comparative balance sheets of Pronghorn Corporation at the beginning and end of the year 2020 appear below. Inc./Dec. PRONGHORN CORPORATION BALANCE SHEETS Dec. 31, 2020 Jan 1, 2020 Assets Cash $22,120 $14,770 Accounts receivable 108,120 89,770 Equipment 41,120 23,770 Less: Accumulated Depreciation-Equipment (17,000) (11,000) Total $154,360 $117,310 Liabilities and Stockholders' Equity Accounts payable $22,120 $16,770 Common stock 102,120 81,770 Retained earnings 30,120 18,770 Total $154,360 $117,310 $7,350 Inc. 18,350 Inc. 17,350 Inc. 6,000 Inc. 5,350 Inc. 20,350 Inc. 11,350...
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...
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...
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