Homework Answers
| Statement of Cash Flows | ||||
| For the Year Ended December 31, 2017 | ||||
| Cash Flows from Operating Activities: | ||||
| Net income | 41107 | |||
| Adjustments to reconcile net income to | ||||
| Net cash provided by operating activities | ||||
| Depreciation expense | 46662 | |||
| Loss on Sale of Equipment | 2222 | |||
| Decrease in Accounts receivable | 8888 | |||
| Increase in inventory | -10499 | |||
| Decrease in Prepaid expenses | 6355 | |||
| Increase in accounts payable | 9699 | |||
| 63327 | ||||
| Net cash provided by operating activities | 104434 | |||
| Cash Flows from Investing Activities: | ||||
| Purchase of Equipment | -102212 | |||
| Sale of Land | 27775 | |||
| Sale of Equipment | 8888 | |||
| Net Cash Provided by Investing Activities | -65549 | |||
| Cash Flows from Financing Activities | ||||
| Payment of Cash Dividends | -13332 | |||
| Net Cash Used by Financing Activities | -13332 | |||
| Net Increase in Cash | 25553 | |||
| Cash at Beginning of Period | 49995 | |||
| Cash at End of Period | 75548 | |||
| Noncash Investing and Financing Activities | ||||
| Issuance of Common Stock for Land | 44440 | |||
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The comparative balance sheets for Tamarisk, Inc. as of December 31 are presented below Tamarisk, Inc....
Problem 13-11A The comparative balance sheets for Rothlisberger Company as of December 31 are presented below...
Problem 13-11A The comparative balance sheets for Rothlisberger Company as of December 31 are presented below ROTHLISBERGER COMPANY Balance Sheets Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 2015 $71,690 44,270 150,990 14,560 105,510 200,920 2014 $45,860 62,310 142,270 21,110 129,300 200,920 (60,830) (40,910) 154,690 228,300 44,610 35,810) Total $710,800 $679,740 Liabilities and Stockholders' Equit Accounts payable Bonds payable Common stock, $1 par Retained earnings $39,760 299,490 160,380 203,520 180,110 $47,410 259,960 199,910 $710,800$679.740...
The comparative balance sheets for Spicer Company as of December 31 are presented below Spicer Company...
The comparative balance sheets for Spicer Company as of December 31 are presented below Spicer Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total 2017 2016 $ 45,000 58,000 142,000 21,000 130,000 200,000 (40,000 ) 155,000 68,000 50,000 151,450 15,280 145,000 200,000 (60,000) 225,000 (45,000) (35,000) $749,730 $676,000 Liabilities and Stockholders Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total $ 36,000 300,000 160,000 180,000...
The comparative balance sheets for Spicer Company as of December 31 are presented below. Spicer Company...
The comparative balance sheets for Spicer Company as of December
31 are presented below. Spicer Company Comparative Balance Sheets
December 31 Assets 2022 2021 Cash $ 68,000 $ 45,000 Accounts
receivable 50,000 58,000 Inventory 151,450 142,000 Prepaid expenses
15,280 21,000 Land 145,000 130,000 Buildings 200,000 200,000
Accumulated depreciation—buildings (60,000 ) (40,000 ) Equipment
225,000 155,000 Accumulated depreciation—equipment (45,000 )
(35,000 ) Total $749,730 $676,000 Liabilities and Stockholders’
Equity Accounts payable $ 44,730 $ 36,000 Bonds payable 300,000
300,000 Common stock,...
Question 7 The comparative balance sheets for Rothlisberger Company as of December 31 are presented below....
Question 7 The comparative balance sheets for Rothlisberger Company as of December 31 are presented below. ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $59,300 $45,900 Accounts receivable 44,000 64,800 Inventory 150,200 143,400 Prepaid expenses 14,300 24,900 Land 104,300 135,300 Buildings 198,400 198,400 Accumulated depreciation-buildings (62,500) (34,000) Equipment 232,400 158,000 Accumulated depreciation-equipment (42,900) (37,900) Total $697,500 $698,800 Liabilities and Stockholders' Equity Accounts payable $46,100 $40,000 Bonds payable 260,000 294,000 Common stock, $1 par 192,600 158,600 CALCULATOR PULLS...
A The comparative balance sheets for Rothlisberger Company as of December 31 P17-11A The are presented...
A The comparative balance sheets for Rothlisberger Company as of December 31 P17-11A The are presented below. $180,250 Prepare a statement of cash flows-indirect method. (LO) ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $ 81,000 Accounts receivable 41,000 Inventory 151,450 Prepaid expenses 15,280 Land 105,000 Buildings 200,000 Accumulated depreciation-buildings (60,000) Equipment 221,000 Accumulated depreciation--equipment (45,000) Total $709,730 2016 $ 45,000 62,000 142,000 21,000 130,000 200,000 (40,000) 155,000 (35,000) $680,000 Liabilities and Stockholders' Equity Accounts payable Bonds payable...
The comparative balance sheets for Rothlisberger Company as of December 31 are presented below. ROTHLISBERGER COMPANY...
The comparative balance sheets for Rothlisberger Company as of December 31 are presented below. ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 Assets 2020 Cash Accounts receivable $59,300 44,000 Inventory Prepaid expenses 150,200 14,300 Land 104,300 Buildings 198,400 Accumulated depreciation--buildings (62,500) Equipment 232,400 Accumulated depreciation-equipment (42,900) Total $697,500 Liabilities and Stockholders' Equity Accounts payable $46,100 Bonds payable 260,000 Common stock, $1 par 192,600 Retained earnings 198,800 Total $697,500 2019 $45,900 64,800 143,400 24,900 135,300 198,400 (34,000) 158,000 (37,900) $698,800 $40,000 294,000...
Problem 12-11A The comparative balance sheets for Concord Corporation as of December 31 are presented below....
Problem 12-11A The comparative balance sheets for Concord Corporation as of December 31 are presented below. Concord Corporation Comparative Balance Sheets December 31 Assets 2019 2018 Cash $57,600 $47,800 Accounts receivable 43,600 64,100 Inventory 151,600 145,800 Prepaid expenses 14,300 21,200 Land 96,300 130,400 Buildings 197,000 197,000 Accumulated depreciation-buildings (55,900) (30,900) Equipment 229,900 156,600 Accumulated depreciation-equipment (43,600) (35,800) Total $690,800 $696,200 Liabilities and Stockholders' Equity Accounts payable $46,100 $39,800 Bonds payable 260,000 290,900 Common stock, $1 par 189,800 158,900 Retained earnings...
Problem 13-11A The comparative balance sheets for Rothlisberger Company as of December 31 are presented below...
Problem 13-11A The comparative balance sheets for Rothlisberger Company as of December 31 are presented below ROTHLISBERGER COMPANY Balance Sheets December 31 $57,700 40,700 151,000 14,800 107,600 $47,400 63,000 143,100 24,500 137,900 200,700 200,700 (59,100) (34,700) 155,300 Accounts receivable Prepaid expenses 229,100 (44.900) (35,800) $697,600 $701.400 Liabilities and Stockholders E Accounts payable Bonds payable Common stock, $1 par 46,100 40000 294,700 159,200 19.o00 207,500 $697,600 $701.400 260,000 193,900 Additional information 1. Operating expenses indlude depreciation expense of $42,000 and charges...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2019...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2019 2020 Cash $14,600 $10,300 23,900 Accounts receivable 21,600 Land 20,500 25,900 Buildings 70,200 70,200 Accumulated depreciation-buildings (14,500) (10,800) $112,400 $119,500 Total Accounts payable $12,000 $28,200 74,000 73,300 Common stock Retained earnings 18,000 26,400 $112,400 $119,500 Total Additional information : 1. Net income was $22,900. Dividends declared and paid were $14,500. 2. No noncash investing and financing activities occurred during 2020 3. The land was...
The comparative balance sheets of Tamarisk Inc. at the beginning and the end of the year...
The comparative balance sheets of Tamarisk Inc. at the beginning and the end of the year 2020 are as follows. TAMARISK INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $ 47,110 $ 15,110 $32,000 Inc. Accounts receivable 94,950 89,840 5,110 Inc. Equipment 42,950 23,840 19,110 Inc. Less: Accumulated Depreciation-Equipment 20,950 11,000 9,950 Inc. Total $164,060 $117,790 Liabilities and Stockholders' Equity Accounts payable $ 23,950 $ 16,840 7,110 Inc. Common stock 102,110 81,840 20,270 Inc. Retained earnings...
Problem 13-11A The comparative balance sheets for Rothlisberger Company as of December 31 are presented below ROTHLISBERGER COMPANY Balance Sheets Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 2015 $71,690 44,270 150,990 14,560 105,510 200,920 2014 $45,860 62,310 142,270 21,110 129,300 200,920 (60,830) (40,910) 154,690 228,300 44,610 35,810) Total $710,800 $679,740 Liabilities and Stockholders' Equit Accounts payable Bonds payable Common stock, $1 par Retained earnings $39,760 299,490 160,380 203,520 180,110 $47,410 259,960 199,910 $710,800$679.740...
The comparative balance sheets for Spicer Company as of December 31 are presented below Spicer Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total 2017 2016 $ 45,000 58,000 142,000 21,000 130,000 200,000 (40,000 ) 155,000 68,000 50,000 151,450 15,280 145,000 200,000 (60,000) 225,000 (45,000) (35,000) $749,730 $676,000 Liabilities and Stockholders Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total $ 36,000 300,000 160,000 180,000...
The comparative balance sheets for Spicer Company as of December
31 are presented below. Spicer Company Comparative Balance Sheets
December 31 Assets 2022 2021 Cash $ 68,000 $ 45,000 Accounts
receivable 50,000 58,000 Inventory 151,450 142,000 Prepaid expenses
15,280 21,000 Land 145,000 130,000 Buildings 200,000 200,000
Accumulated depreciation—buildings (60,000 ) (40,000 ) Equipment
225,000 155,000 Accumulated depreciation—equipment (45,000 )
(35,000 ) Total $749,730 $676,000 Liabilities and Stockholders’
Equity Accounts payable $ 44,730 $ 36,000 Bonds payable 300,000
300,000 Common stock,...
Question 7 The comparative balance sheets for Rothlisberger Company as of December 31 are presented below. ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $59,300 $45,900 Accounts receivable 44,000 64,800 Inventory 150,200 143,400 Prepaid expenses 14,300 24,900 Land 104,300 135,300 Buildings 198,400 198,400 Accumulated depreciation-buildings (62,500) (34,000) Equipment 232,400 158,000 Accumulated depreciation-equipment (42,900) (37,900) Total $697,500 $698,800 Liabilities and Stockholders' Equity Accounts payable $46,100 $40,000 Bonds payable 260,000 294,000 Common stock, $1 par 192,600 158,600 CALCULATOR PULLS...
A The comparative balance sheets for Rothlisberger Company as of December 31 P17-11A The are presented below. $180,250 Prepare a statement of cash flows-indirect method. (LO) ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $ 81,000 Accounts receivable 41,000 Inventory 151,450 Prepaid expenses 15,280 Land 105,000 Buildings 200,000 Accumulated depreciation-buildings (60,000) Equipment 221,000 Accumulated depreciation--equipment (45,000) Total $709,730 2016 $ 45,000 62,000 142,000 21,000 130,000 200,000 (40,000) 155,000 (35,000) $680,000 Liabilities and Stockholders' Equity Accounts payable Bonds payable...
The comparative balance sheets for Rothlisberger Company as of December 31 are presented below. ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 Assets 2020 Cash Accounts receivable $59,300 44,000 Inventory Prepaid expenses 150,200 14,300 Land 104,300 Buildings 198,400 Accumulated depreciation--buildings (62,500) Equipment 232,400 Accumulated depreciation-equipment (42,900) Total $697,500 Liabilities and Stockholders' Equity Accounts payable $46,100 Bonds payable 260,000 Common stock, $1 par 192,600 Retained earnings 198,800 Total $697,500 2019 $45,900 64,800 143,400 24,900 135,300 198,400 (34,000) 158,000 (37,900) $698,800 $40,000 294,000...
Problem 12-11A The comparative balance sheets for Concord Corporation as of December 31 are presented below. Concord Corporation Comparative Balance Sheets December 31 Assets 2019 2018 Cash $57,600 $47,800 Accounts receivable 43,600 64,100 Inventory 151,600 145,800 Prepaid expenses 14,300 21,200 Land 96,300 130,400 Buildings 197,000 197,000 Accumulated depreciation-buildings (55,900) (30,900) Equipment 229,900 156,600 Accumulated depreciation-equipment (43,600) (35,800) Total $690,800 $696,200 Liabilities and Stockholders' Equity Accounts payable $46,100 $39,800 Bonds payable 260,000 290,900 Common stock, $1 par 189,800 158,900 Retained earnings...
Problem 13-11A The comparative balance sheets for Rothlisberger Company as of December 31 are presented below ROTHLISBERGER COMPANY Balance Sheets December 31 $57,700 40,700 151,000 14,800 107,600 $47,400 63,000 143,100 24,500 137,900 200,700 200,700 (59,100) (34,700) 155,300 Accounts receivable Prepaid expenses 229,100 (44.900) (35,800) $697,600 $701.400 Liabilities and Stockholders E Accounts payable Bonds payable Common stock, $1 par 46,100 40000 294,700 159,200 19.o00 207,500 $697,600 $701.400 260,000 193,900 Additional information 1. Operating expenses indlude depreciation expense of $42,000 and charges...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2019 2020 Cash $14,600 $10,300 23,900 Accounts receivable 21,600 Land 20,500 25,900 Buildings 70,200 70,200 Accumulated depreciation-buildings (14,500) (10,800) $112,400 $119,500 Total Accounts payable $12,000 $28,200 74,000 73,300 Common stock Retained earnings 18,000 26,400 $112,400 $119,500 Total Additional information : 1. Net income was $22,900. Dividends declared and paid were $14,500. 2. No noncash investing and financing activities occurred during 2020 3. The land was...
The comparative balance sheets of Tamarisk Inc. at the beginning and the end of the year 2020 are as follows. TAMARISK INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $ 47,110 $ 15,110 $32,000 Inc. Accounts receivable 94,950 89,840 5,110 Inc. Equipment 42,950 23,840 19,110 Inc. Less: Accumulated Depreciation-Equipment 20,950 11,000 9,950 Inc. Total $164,060 $117,790 Liabilities and Stockholders' Equity Accounts payable $ 23,950 $ 16,840 7,110 Inc. Common stock 102,110 81,840 20,270 Inc. Retained earnings...
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