Homework Answers
e.$365,000.
The following is the table:
| 20x2 | 20x3 | |
| Retained earnings, Jan 1, previously reported | 100,000 | 205,000 |
| adjustment for cumulative effect on prior years of applying change retrospectively (100,000-70,000) (100,000+105,000-30,000-20,000) | (30,000) | (50,000) |
| retained earnings jan1, as adjusted | 70,000 | 155,000 |
| net income | 85,000 | 210,000 |
| retained earnings dec 31 | 155,000 | 365,000 |
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Question 8 Not yet answered Points out of 2.00 F Flag question Net Income 20X1 Net...
a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and...
a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and paid. c. Scoreteck's only noncash expense was $85,000 of depreciation. d. The company purchased plant assets for $85,000 cash. e. Notes payable of $35,000 were issued for $35,000 cash. plete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required) Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
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Question 26 Not yet answered Marked out of 1.00 P Flag question Richards Corporation had the...
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USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (8) QUESTIONS: On August 1, 20x1, Desert, Inc....
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please show work Question 6 Not yet answered Marked out of 5.00 P Flag question Preparing...
please show work
Question 6 Not yet answered Marked out of 5.00 P Flag question Preparing the Cash Flow from Financing Activities Section Gomez Corp. reported the following items for the year ended December 31, 2020. Item Dec 31, 2020 Purchased an investment in debt securities (long-term) for cash $ 54,000 Sold equipment for cash, previously used in operations 45,000 Paid cash for dividends 18,000 Issued common stock for cash 180,000 Retired a 10-year bond payable by repaying the face...
27. Construction of income statement and balance sheet (L02-1 & (2-3 ) For December 31, 20X1....
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EXHIBIA Sherman, Ins Balance sheet As of December 31, 20X1 and Ox Asses 20X1 Cash Marketable...
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a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and paid. c. Scoreteck's only noncash expense was $85,000 of depreciation. d. The company purchased plant assets for $85,000 cash. e. Notes payable of $35,000 were issued for $35,000 cash. plete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required) Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
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Question 26 Not yet answered Marked out of 1.00 P Flag question Richards Corporation had the following balances at December 31, 2020: $212,000 $1,255,000 Goodwill 6,000 Common stock 5,000 120,000 Prepaid Insurance 35,000 Accounts payable 24,000 50,000 Property, plant, and equipment Interest payable Line of credit, due on demand Customer list Additional paid-in capital Salaries payable Cash and cash equivalents Pension liability Inventory Land held for future expansion 545,000 Retained earnings December 31, 2019 12,000 Accumulated depreciation 410,000 145,000 85,000...
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please show work
Question 6 Not yet answered Marked out of 5.00 P Flag question Preparing the Cash Flow from Financing Activities Section Gomez Corp. reported the following items for the year ended December 31, 2020. Item Dec 31, 2020 Purchased an investment in debt securities (long-term) for cash $ 54,000 Sold equipment for cash, previously used in operations 45,000 Paid cash for dividends 18,000 Issued common stock for cash 180,000 Retired a 10-year bond payable by repaying the face...
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