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1 Balance Sheets December 31, 2019 December 31, 2020- Assets Cash $600 $1,100 Accounts Receivable 1,200...
1 Balance Sheets December 31, 2019 December 31, 2020- Assets Cash $600 $1,100 Accounts Receivable 1,200...
1 Balance Sheets December 31, 2019 December 31, 2020- Assets Cash $600 $1,100 Accounts Receivable 1,200 3,000 Inventory 800 1,000 Accounts Payable- 800 1,600 Retained Earnings 4,400 5,300 Income Statement- Fiscal year 2020- $13,000 Sales Revenues Cost of Goods Sold 6,800 Net Income $1,400 Required 1. Determine the cash collected from customers for the sales during 2020. 2. Determine the cash paid to purchase inventory during 2020. 3. Determined the cash paid as dividend during 2020 4. Indicate how the...
RACK 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14.900 Accounts receivable 21.500 Land...
RACK 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14.900 Accounts receivable 21.500 Land Buildings 70,100 Accumulated depreciation buildings (14.800) $111.00 $10,400 70,100 (10,700) 119.100 Accounts payable Commons $12.100 75.000 520,300 73.600 17,200 119.100 5111,400 1. Net income was 22,400. Dividends declared and paid were $15.700 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold for cash of 54.900 Prepare a statement of cash flows for 2020 using the indirect method (Show...
2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 62,800 Accounts receivable,...
2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 62,800 Accounts receivable, net 27.000 Inventory 56,600 Prepaid expenses 3,500 Total current assets 149,900 Furniture 70,500 Accum. depreciation-Furniture (10,900) Total assets $209,500 Liabilities and Equity Accounts payable $ 9,900 Wages payable 5,900 Income taxes payable 1.000 Total current liabilities 16,800 Notes payable (long-term) 20,700 Total liabilities 37,500 Equity Common stock, $5 par value 150,000 Retained earnings 22.000 Total liabilities and equity $209,500 $ 15,700 33.300 62,500 2,900...
Oakley Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $84,200 $47,000 Accounts receivable 91,200...
Oakley
Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$84,200
$47,000
Accounts receivable
91,200
56,800
Inventory
124,600
102,200
Investments
83,200
85,000
Equipment
256,000
204,000
Accumulated
depreciation—equipment
(50,000
)
(40,000
)
$589,200
$455,000
Liabilities and
Stockholders’ Equity
Accounts payable
$58,400
$48,700
Accrued expenses payable
12,300
18,600
Bonds payable
101,000
71,000
Common stock
249,000
201,000
Retained earnings
168,500
115,700
$589,200
$455,000
Oakley
Company
Income Statement
For the Year Ended December 31, 2020
Sales revenue
$293,400
Gain on disposal of plant...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Momber's Flooring Company 2011 2012 800 Cash 500 Accounts receivable 1,400 1,200 Inventory 3,900 4,400 Net...
Momber's Flooring Company 2011 2012 800 Cash 500 Accounts receivable 1,400 1,200 Inventory 3,900 4,400 Net fixed assets 8,200 8,200 Land 1,000 2,000 Total Assets 15,000 16,600 600 500 Notes payable 1,000 Accounts payable 3,000 2,000 Accruals 900 Long-term debt 3,600 5,400 Common Stock 2,500 2,200 Retained earnings 4,400 5,500 Total Liabilities and Equity 15,000 16,600 Given the Balance Sheets for Momber's Flooring Company above for the years ending December 31, 2011 and 2012, find Net Cash Flow from Financing...
Sheridan Company Comparative Balance Sheets December 31 Assets 2019 Cash $93,000 Accounts receivable 89,800 Inventory 120,000...
Sheridan Company Comparative Balance Sheets December 31 Assets 2019 Cash $93,000 Accounts receivable 89,800 Inventory 120,000 Investments 84,600 Equipment 249,000 Accumulated depreciation-equipment (49,600) $586,800 Liabilities and Stockholders' Equity Accounts payable $58,000 Accrued expenses payable 11,800 Bonds payable 103,000 Common stock 251,000 Retained earnings 163,000 $586,800 2018 $47,500 57,900 101,000 86,900 205,000 (40,100) $458,200 $ 48,800 17,800 69,700 193,000 128,900 $458,200 Sheridan Company Income Statement For the Year Ended December 31, 2019 Sales revenue Gain on disposal of equipment $299,000 8,270...
Cash 500 800 Accounts receivable 1,400 1,200 Inventory 3,900 4,400 4 Net fixed assets 8,200 8,200...
Cash 500 800 Accounts receivable 1,400 1,200 Inventory 3,900 4,400 4 Net fixed assets 8,200 8,200 Land 1,000 Total Assets 2,000 16,600 15,000 Notes payable 1,000 600 Accounts payable 3.000 2,000 Accruals 500 900 Long-term debt 3,600 5.400 Common Stock 2,500 2.200 Retained earnings 4,400 Total Liabilities and 5,500 Equity 15,000 16,600 Given the Balance Sheets for Momber's Flooring Company above for the years ending December 31, 2011 and 2012 Cash Flow from Financing Activities for 2012 assuming the following...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Vero Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable 2020 $63,000 85,000 170,000 75,000...
Vero Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable 2020 $63,000 85,000 170,000 75,000 270,000 2019 $ 22,000 76,000 189,000 100,000 200,000 Inventory Land Equipment Accumulated depreciation-equipment Total $597,000 $555,000 Liabilities and Stockholders' Equity Accounts payable $ 39,000 $ 47,000 Bonds payable Common stock ($1 par) 150,000 216,000 192.000 200,000 174,000 134.000 Retained earnings Total $597,000 $555,000 Additional information: 1. Net income for 2020 was $93.000. 2. Cash dividends of $35,000 were declared and paid. 3. Bonds payable...
1 Balance Sheets December 31, 2019 December 31, 2020- Assets Cash $600 $1,100 Accounts Receivable 1,200 3,000 Inventory 800 1,000 Accounts Payable- 800 1,600 Retained Earnings 4,400 5,300 Income Statement- Fiscal year 2020- $13,000 Sales Revenues Cost of Goods Sold 6,800 Net Income $1,400 Required 1. Determine the cash collected from customers for the sales during 2020. 2. Determine the cash paid to purchase inventory during 2020. 3. Determined the cash paid as dividend during 2020 4. Indicate how the...
RACK 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14.900 Accounts receivable 21.500 Land Buildings 70,100 Accumulated depreciation buildings (14.800) $111.00 $10,400 70,100 (10,700) 119.100 Accounts payable Commons $12.100 75.000 520,300 73.600 17,200 119.100 5111,400 1. Net income was 22,400. Dividends declared and paid were $15.700 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold for cash of 54.900 Prepare a statement of cash flows for 2020 using the indirect method (Show...
2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 62,800 Accounts receivable, net 27.000 Inventory 56,600 Prepaid expenses 3,500 Total current assets 149,900 Furniture 70,500 Accum. depreciation-Furniture (10,900) Total assets $209,500 Liabilities and Equity Accounts payable $ 9,900 Wages payable 5,900 Income taxes payable 1.000 Total current liabilities 16,800 Notes payable (long-term) 20,700 Total liabilities 37,500 Equity Common stock, $5 par value 150,000 Retained earnings 22.000 Total liabilities and equity $209,500 $ 15,700 33.300 62,500 2,900...
Oakley
Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$84,200
$47,000
Accounts receivable
91,200
56,800
Inventory
124,600
102,200
Investments
83,200
85,000
Equipment
256,000
204,000
Accumulated
depreciation—equipment
(50,000
)
(40,000
)
$589,200
$455,000
Liabilities and
Stockholders’ Equity
Accounts payable
$58,400
$48,700
Accrued expenses payable
12,300
18,600
Bonds payable
101,000
71,000
Common stock
249,000
201,000
Retained earnings
168,500
115,700
$589,200
$455,000
Oakley
Company
Income Statement
For the Year Ended December 31, 2020
Sales revenue
$293,400
Gain on disposal of plant...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Momber's Flooring Company 2011 2012 800 Cash 500 Accounts receivable 1,400 1,200 Inventory 3,900 4,400 Net fixed assets 8,200 8,200 Land 1,000 2,000 Total Assets 15,000 16,600 600 500 Notes payable 1,000 Accounts payable 3,000 2,000 Accruals 900 Long-term debt 3,600 5,400 Common Stock 2,500 2,200 Retained earnings 4,400 5,500 Total Liabilities and Equity 15,000 16,600 Given the Balance Sheets for Momber's Flooring Company above for the years ending December 31, 2011 and 2012, find Net Cash Flow from Financing...
Sheridan Company Comparative Balance Sheets December 31 Assets 2019 Cash $93,000 Accounts receivable 89,800 Inventory 120,000 Investments 84,600 Equipment 249,000 Accumulated depreciation-equipment (49,600) $586,800 Liabilities and Stockholders' Equity Accounts payable $58,000 Accrued expenses payable 11,800 Bonds payable 103,000 Common stock 251,000 Retained earnings 163,000 $586,800 2018 $47,500 57,900 101,000 86,900 205,000 (40,100) $458,200 $ 48,800 17,800 69,700 193,000 128,900 $458,200 Sheridan Company Income Statement For the Year Ended December 31, 2019 Sales revenue Gain on disposal of equipment $299,000 8,270...
Cash 500 800 Accounts receivable 1,400 1,200 Inventory 3,900 4,400 4 Net fixed assets 8,200 8,200 Land 1,000 Total Assets 2,000 16,600 15,000 Notes payable 1,000 600 Accounts payable 3.000 2,000 Accruals 500 900 Long-term debt 3,600 5.400 Common Stock 2,500 2.200 Retained earnings 4,400 Total Liabilities and 5,500 Equity 15,000 16,600 Given the Balance Sheets for Momber's Flooring Company above for the years ending December 31, 2011 and 2012 Cash Flow from Financing Activities for 2012 assuming the following...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Vero Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable 2020 $63,000 85,000 170,000 75,000 270,000 2019 $ 22,000 76,000 189,000 100,000 200,000 Inventory Land Equipment Accumulated depreciation-equipment Total $597,000 $555,000 Liabilities and Stockholders' Equity Accounts payable $ 39,000 $ 47,000 Bonds payable Common stock ($1 par) 150,000 216,000 192.000 200,000 174,000 134.000 Retained earnings Total $597,000 $555,000 Additional information: 1. Net income for 2020 was $93.000. 2. Cash dividends of $35,000 were declared and paid. 3. Bonds payable...
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