Waterway Industries Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 54,400 $ 17,600 Accounts...
Homework Answers
| Working for calculating changes | |||
| Balance sheet at December 31 | |||
| 2022 | 2021 | Change | |
| Cash | 54400 | 17,600 | 36,800 |
| Accounts Receivable | 70400 | 60,800 | 9,600 |
| Inventory | 1,33,600 | 1,51,200 | -17,600 |
| Land | 64,000 | 80,000 | -16,000 |
| Equipment | 2,08,000 | 1,60,000 | 48,000 |
| Accumulated Deprecaition- Equipment | -52,800 | -25,600 | -27,200 |
| 477600 | 4,44,000 | ||
| Accounts payable | 31,200 | 34,400 | -3,200 |
| Bonds payable | 1,20,000 | 1,60,000 | -40,000 |
| Common Stock | 1,72,800 | 1,39,200 | 33,600 |
| Retained Earnigs | 1,53,600 | 1,10,400 | 43,200 |
| 4,77,600 | 4,44,000 | ||
| Sandhill Comapny | |||
| Cash Flow Statement | |||
| Cash flows from operating activities: | |||
| Net income | 74,400 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation expense | 27200 | ||
| Increase in accounts receivable | -9,600 | ||
| Decrease in inventory | 17,600 | ||
| Decrease in accounts payable | -3200 | ||
| 32000 | |||
| Net cash provided by operating activities (a) | 1,06,400 | ||
| Cash flows from investing activities: | |||
| Sale of land | 16000 | ||
| Purchase of Equipment | -48000 | ||
| -32,000 | |||
| Net cash provided by Investing activities (b) | -32,000 | ||
| Cash flows from financing activities: | |||
| Cash payments for dividends | -31,200 | ||
| Cash payments on Bonds Payable | -40,000 | ||
| Cash receipts from issuing stock | 33600 | -37,600 | |
| Net cash provided by financing activities (c) | -37,600 | ||
| Net cash provided by all activities(a+b+c) | 36,800 | ||
| Cash balance, January 1, 2022 | 17600 | ||
| Cash balance, December 31, 2022 | 54,400 | ||
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Waterway Industries
Comparative Balance Sheets
December 31
Assets
2022
2021
Cash
$ 54,400
$ 17,600
Accounts...
need this ASAP please! Bridgeport Corp. Comparative Balance Sheets December 31 Assets 2021 Cash $ 129,280...
need
this ASAP please!
Bridgeport Corp. Comparative Balance Sheets December 31 Assets 2021 Cash $ 129,280 $ 77,440 Accounts receivable 140,480 60,800 Inventory 180,000 Prepaid expenses 45,440 164,560 41,600 174,400 Long-term investments 220,800 Plant assets 456,000 388,000 Accumulated depreciation (80,000) $1,092,000 (83,200 ) $823,600 Total Liabilities and Stockholders' Equity Accounts payable $ 163,200 $ 107,680 Accrued expenses payable 26,400 Bonds payable 176,000 352,000 33,600 233,600 280,000 Common stock Retained earnings 374,400 $1.092.000 Total 168.720 $823,600 Bridgeport Corp. Income Statement Data...
Coronado Industries reported the following information for 2022. Coronado Industries Comparative Balance Sheets December 31 Assets...
Coronado Industries reported the following information for 2022. Coronado Industries Comparative Balance Sheets December 31 Assets 2022 2021 Change Increase/Decrease Cash $82,600 $50,400 $32,200 Increase Accounts receivable 86,800 30,800 56,000 Increase Inventory 61,600 –0– 61,600 Increase Prepaid expenses 8,400 5,600 2,800 Increase Land 77,000 98,000 21,000 Decrease Buildings 280,000 280,000 –0– Accumulated depreciation—buildings (29,400 ) (19,600 ) 9,800 Increase Equipment 256,200 95,200 161,000 Increase Accumulated depreciation—equipment (39,200 ) (14,000 ) 25,200 Increase Totals $784,000 $526,400 Liabilities and Stockholders’ Equity Accounts...
Windsor, Inc. Comparative Balance Sheets December 31 Assets 2022 2021 Change Increase/Decrease Cash $100,300 $61,200 $39,100...
Windsor, Inc. Comparative Balance Sheets December 31 Assets 2022 2021 Change Increase/Decrease Cash $100,300 $61,200 $39,100 Increase Accounts receivable 105,400 37,400 68,000 Increase Inventory 74,800 –0– 74,800 Increase Prepaid expenses 10,200 6,800 3,400 Increase Land 93,500 119,000 25,500 Decrease Buildings 340,000 340,000 –0– Accumulated depreciation—buildings (35,700 ) (23,800 ) 11,900 Increase Equipment 311,100 115,600 195,500 Increase Accumulated depreciation—equipment (47,600 ) (17,000 ) 30,600 Increase Totals $952,000 $639,200 Liabilities and Stockholders’ Equity Accounts payable $73,100 $68,000 $5,100 Increase Accrued expenses payable...
Shown below are comparative balance sheets for Shamrock Company. Shamrock Company Comparative Balance Sheets December 31...
Shown below are comparative balance sheets for Shamrock Company. Shamrock Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 136,000 $ 44,000 Accounts receivable 176,000 152,000 Inventory 334,000 378,000 Land 160,000 200,000 Equipment 520,000 400,000 Accumulated depreciation—equipment (132,000 ) (64,000 ) Total $1,194,000 $1,110,000 Liabilities and Stockholders’ Equity Accounts payable $ 78,000 $ 86,000 Bonds payable 300,000 400,000 Common stock ($1 par) 432,000 348,000 Retained earnings 384,000 276,000 Total $1,194,000 $1,110,000 Additional information: 1. Net income for 2022...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 300 321,200 000 Common stock 484,000 385,000 Retained earnings 514,800 231,990 Total $1,501,500 $1,132,450 Pharoah Company Income Statement Data For the...
P12.11A (LO 2), AP The comparative balance sheets for Spicer Company as of December 31 are...
P12.11A (LO 2), AP The comparative balance sheets for Spicer Company as of December 31 are presented below. Prepare a statement of cash flows—indirect method. 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 $...
Pharoah Company reported the following information for 2022. Pharoah Company Comparative Balance Sheets December 31 Assets...
Pharoah Company reported the following information for 2022. Pharoah Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $41,300 $25,200 43,400 15,400 Accounts receivable Inventory Prepaid expenses Change Increase/Decrease $16,100 Increase 28,000 Increase 30,800 Increase 1,400 Increase 10,500 Decrease 30,800 -0- 4,200 2,800 Land 38,500 49,000 140,000 140,000 -0- (14,700) (9,800) Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 128,100 47,600 4,900 Increase 80,500 Increase 12,600 Increase (19,600) (7.000) $392,000 $263,200 Totals $30,100 $28,000 0 7,000 Liabilities and Stockholders' Equity Accounts...
Presented below are the financial statements of Coronado Industries. Coronado Industries Comparative Balance Sheets December 31...
Presented below are the financial statements of Coronado Industries. Coronado Industries Comparative Balance Sheets December 31 Assets 2022 $ 49,000 2021 $28,000 Cash Accounts receivable Inventory Property, plant, and equipment 28,000 39,200 84,000 (44,800) $155,400 19,600 28,000 109,200 (33,600) $151,200 Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable $ 26,600 9,800 23,800 25,200 Bonds payable $ 21,000 11,200 46,200 19,600 53,200 $151,200 Common stock Retained earnings 70,000 Total $155,400 Coronado Industries Income Statement For the Year...
Spicer Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings...
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 68,000 50,000 151,450 15,280 145,000 200,000 (60,000) (40,000) 225,000 (45,000) (35,000) 155,000 $749,730 $676,000 Liabilities and Stockholders Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total $44,730 300,000 200,000 205,000 749,730 $676,000 $ 36,000 300,000 160,000 180,000 Additional information: 1. Operating expenses include depreciation expense of...
Here are comparative balance sheets for Velo Company. Velo Company Comparative Balance Sheets December 31 Assets...
Here are comparative balance sheets for Velo Company.
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...
need
this ASAP please!
Bridgeport Corp. Comparative Balance Sheets December 31 Assets 2021 Cash $ 129,280 $ 77,440 Accounts receivable 140,480 60,800 Inventory 180,000 Prepaid expenses 45,440 164,560 41,600 174,400 Long-term investments 220,800 Plant assets 456,000 388,000 Accumulated depreciation (80,000) $1,092,000 (83,200 ) $823,600 Total Liabilities and Stockholders' Equity Accounts payable $ 163,200 $ 107,680 Accrued expenses payable 26,400 Bonds payable 176,000 352,000 33,600 233,600 280,000 Common stock Retained earnings 374,400 $1.092.000 Total 168.720 $823,600 Bridgeport Corp. Income Statement Data...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 300 321,200 000 Common stock 484,000 385,000 Retained earnings 514,800 231,990 Total $1,501,500 $1,132,450 Pharoah Company Income Statement Data For the...
Pharoah Company reported the following information for 2022. Pharoah Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $41,300 $25,200 43,400 15,400 Accounts receivable Inventory Prepaid expenses Change Increase/Decrease $16,100 Increase 28,000 Increase 30,800 Increase 1,400 Increase 10,500 Decrease 30,800 -0- 4,200 2,800 Land 38,500 49,000 140,000 140,000 -0- (14,700) (9,800) Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 128,100 47,600 4,900 Increase 80,500 Increase 12,600 Increase (19,600) (7.000) $392,000 $263,200 Totals $30,100 $28,000 0 7,000 Liabilities and Stockholders' Equity Accounts...
Presented below are the financial statements of Coronado Industries. Coronado Industries Comparative Balance Sheets December 31 Assets 2022 $ 49,000 2021 $28,000 Cash Accounts receivable Inventory Property, plant, and equipment 28,000 39,200 84,000 (44,800) $155,400 19,600 28,000 109,200 (33,600) $151,200 Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable $ 26,600 9,800 23,800 25,200 Bonds payable $ 21,000 11,200 46,200 19,600 53,200 $151,200 Common stock Retained earnings 70,000 Total $155,400 Coronado Industries Income Statement For the Year...
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 68,000 50,000 151,450 15,280 145,000 200,000 (60,000) (40,000) 225,000 (45,000) (35,000) 155,000 $749,730 $676,000 Liabilities and Stockholders Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total $44,730 300,000 200,000 205,000 749,730 $676,000 $ 36,000 300,000 160,000 180,000 Additional information: 1. Operating expenses include depreciation expense of...
Here are comparative balance sheets for Velo Company.
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...
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