Homework Answers
| Net income | $ 4,200 |
| Adjustment to reconcile net income: | |
| Depreciation expense | $ 28,000 |
| Decrease in accounts receivable | $ 2,400 |
| Decrease in inventory | $ 2,400 |
| Decrease in accounts payable | $ (1,400) |
| Decrease in accrued liabilities | $ (5,400) |
| Increase in income tax payable | $ 6,800 |
| Net cash provided by operating activities | $ 37,000 |
| Cash dividends paid | $ (4,000) |
| Cash paid to retire bonds | $ (6,000) |
| Cash received from issuance of common stock | $ 3,000 |
| Net cash used by financing activities | $ (7,000) |
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llies Corporation's comparatve balance sheet appears below Comparative Balance Sheet Ending Beginning Balance Assets Current assets...
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...
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 $ 55,000 $ 48,000 Accounts receivable 34,000 37,500 Inventory 82,000 85,500 Total current assets 171,000 171,000 Property, plant, and equipment 403,000 369,000 Less accumulated depreciation 186,000 147,000 Net property, plant, and equipment 217,000 222,000 Total assets $ 388,000 $ 393,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 33,000 $ 35,500 Accrued liabilities 69,000 75,500 Income taxes payable...
Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance...
Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 19 $ 20 Accounts receivable 26 27 Inventory 56 51 Property, plant, and equipment 686 550 Less accumulated depreciation 430 363 Total assets $ 357 $ 285 Liabilities and stockholders' equity: Accounts payable $ 30 $ 34 Bonds payable 43 40 Common stock 54 50 Retained earnings 230 161 Total liabilities and stockholders' equity $ 357 $ 285...
Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance...
Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 19 $ 20 Accounts receivable 26 27 Inventory 56 51 Property, plant, and equipment 686 550 Less accumulated depreciation 430 363 Total assets $ 357 $ 285 Liabilities and stockholders' equity: Accounts payable $ 30 $ 34 Bonds payable 43 40 Common stock 54 50 Retained earnings 230 161 Total liabilities and stockholders' equity $ 357 $ 285...
Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 42,000 $ 31,000 Accounts receivable 22,000 18,000 Inventory 66,000 70,000 Total current assets 130,000 119,000 Property, plant, and equipment 401,000 377,000 Less accumulated depreciation 207,000 177,000 Net property, plant, and equipment 194,000 200,000 Total assets $ 324,000 $ 319,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 15,000 $ 17,000 Accrued liabilities 45,000 38,000 Income taxes payable...
Alcoser Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets:...
Alcoser Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 75 $ 36 Accounts receivable 48 51 Inventory 68 95 Property, plant, and equipment 614 531 Less accumulated depreciation 238 221 Total assets $ 567 $ 492 Liabilities and stockholders' equity: Accounts payable $ 56 $ 65 Accrued liabilities 32 31 Income taxes payable 27 43 Bonds payable 244 215 Common stock 90 84 Retained earnings 118 54 Total...
2. Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents 33,000...
2.
Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents 33,000 $26,300 Accounts receivable 19,000 22,000 62,000 59,000 Inventory Prepaid expenses 12,400 10,200 126,400 117,500 Total current assets Property, plant, and equipment 398,000 378,000 199,000 170,100 207,900 Less accumulated depreciation 199,000 Net property, plant, and equipment $325,400 $325,400 Total assets Liabilities and stockholders' equity: Current liabilities: $ 16,200 Accounts payable $11,000 Accrued liabilities 54,000 58,000 Income taxes payable 72,000 74,000 Total current liabilities 142,200 143,000...
Sonier Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Beginning Balance Balance Assets:...
Sonier Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Beginning Balance Balance Assets: $ 30 $ 38 Cash and cash equivalents Accounts receivable 81 74 63 60 Inventory Property, plant, and equipment Less accumulated depreciation 488 400 236 200 $434 $364 Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable $ 54 $ 52 154 200 Common stock 37 36 Retained earnings 76 189 $434 $364 Total liabilities and stockholders' equity The net income for the...
Carriveau Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Beginning Balance Balance $...
Carriveau Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Beginning Balance Balance $ 31 73 Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 74 178 456 207 249 $427 $ 34 67 64 165 370 196 174 $339 Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities...
Hocking Corporation's comparative balance sheet appears below: Hocking Corporation Comparative Balance Sheet Ending Balance Beginning Balance...
Hocking Corporation's comparative balance sheet appears below: Hocking Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets Current assets Cash and cash equivalents Accounts recelvable Inventory Prepald expenses Total current assets Property, plant, and equipment Less accumulated depreclation Net property, plant, and equipment Total assets Liabilities and stockholders' equity Current liablities Accounts payable Accrued llabllitles Income taxes payable Total current llabllitles Bonds payable Total llabilitles Stockholders' equity Common stock Retalned earnings Total stockholders' equity Total liablities and stockholders' equity $35,000...
2.
Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents 33,000 $26,300 Accounts receivable 19,000 22,000 62,000 59,000 Inventory Prepaid expenses 12,400 10,200 126,400 117,500 Total current assets Property, plant, and equipment 398,000 378,000 199,000 170,100 207,900 Less accumulated depreciation 199,000 Net property, plant, and equipment $325,400 $325,400 Total assets Liabilities and stockholders' equity: Current liabilities: $ 16,200 Accounts payable $11,000 Accrued liabilities 54,000 58,000 Income taxes payable 72,000 74,000 Total current liabilities 142,200 143,000...
Sonier Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Beginning Balance Balance Assets: $ 30 $ 38 Cash and cash equivalents Accounts receivable 81 74 63 60 Inventory Property, plant, and equipment Less accumulated depreciation 488 400 236 200 $434 $364 Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable $ 54 $ 52 154 200 Common stock 37 36 Retained earnings 76 189 $434 $364 Total liabilities and stockholders' equity The net income for the...
Carriveau Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Beginning Balance Balance $ 31 73 Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 74 178 456 207 249 $427 $ 34 67 64 165 370 196 174 $339 Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities...
Hocking Corporation's comparative balance sheet appears below: Hocking Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets Current assets Cash and cash equivalents Accounts recelvable Inventory Prepald expenses Total current assets Property, plant, and equipment Less accumulated depreclation Net property, plant, and equipment Total assets Liabilities and stockholders' equity Current liablities Accounts payable Accrued llabllitles Income taxes payable Total current llabllitles Bonds payable Total llabilitles Stockholders' equity Common stock Retalned earnings Total stockholders' equity Total liablities and stockholders' equity $35,000...
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