The comparative balance sheets for 2018 and 2017 and the
statement of income for 2018 are given below for Dux Company.
Additional information from Dux's accounting records is provided
also.
DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) |
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2018 | 2017 | |||||||
Assets | ||||||||
Cash | $ | 64 | $ | 25 | ||||
Accounts receivable | 42 | 55 | ||||||
Less: Allowance for uncollectible accounts | (4 | ) | (3 | ) | ||||
Dividends receivable | 4 | 3 | ||||||
Inventory | 75 | 70 | ||||||
Long-term investment | 22 | 20 | ||||||
Land | 85 | 65 | ||||||
Buildings and equipment | 180 | 200 | ||||||
Less: Accumulated depreciation | (18 | ) | (40 | ) | ||||
$ | 450 | $ | 395 | |||||
Liabilities | ||||||||
Accounts payable | $ | 11 | $ | 13 | ||||
Salaries payable | 4 | 8 | ||||||
Interest payable | 6 | 3 | ||||||
Income tax payable | 9 | 10 | ||||||
Notes payable | 20 | 0 | ||||||
Bonds payable | 120 | 95 | ||||||
Less: Discount on bonds | (5 | ) | (6 | ) | ||||
Shareholders' Equity | ||||||||
Common stock | 210 | 200 | ||||||
Paid-in capital—excess of par | 24 | 20 | ||||||
Retained earnings | 60 | 52 | ||||||
Less: Treasury stock (at cost) | (9 | ) | 0 | |||||
$ | 450 | $ | 395 | |||||
DUX COMPANY Income Statement For the Year Ended December 31, 2018 ($ in 000s) |
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Revenues | ||||||
Sales revenue | $ | 250 | ||||
Dividend revenue | 4 | $ | 254 | |||
Expenses | ||||||
Cost of goods sold | 145 | |||||
Salaries expense | 35 | |||||
Depreciation expense | 8 | |||||
Bad debt expense | 1 | |||||
Interest expense | 10 | |||||
Loss on sale of building | 4 | |||||
Income tax expense | 16 | 219 | ||||
Net income | $ | 35 | ||||
Additional information from the accounting records:
Required:
Prepare the statement of cash flows of Dux Company for the year
ended December 31, 2018. Present cash flows from operating
activities by the direct method. (Do not round your
intermediate calculations. Enter your answers in thousands (i.e.,
5,000 should be entered as 5). Amounts to be deducted should be
indicated with a minus sign.)
The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are...
The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets Decenber 31, 2018 and 2017 s in 000s) Assets Cash Accounts receivable 2018 2017 $ 33 20 (4)So eBook 48 Less: Allovance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment 55 50 10 10 250 225 250 Print (25) (50 $420...
The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company Additional information from Dux's accounting records is provided also. Comparative Balance Sheets Decenber 31, 2018 and 20117 (s in eees) s 43 25 49 57 Cash Accounts recelvable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment 65 55 25 15 87 45 220 268 Buildings and equipment Less: Accumulated depreciation $ 462 $ 48 Liabilities Accounts payable...
Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 (s in e00s) 2018 2017 Assets $ 52 31 Cash Accounts receivable Less: Allowance for uncollectible accounts 78 Dividends receivable 4 Inventory 100 95 Long-term investment Land 54 50 95 85 Buildings and equipment Less: Accumulated depreciation 200...
Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 (s in eees) 2018 2017 Assets Cash Accounts receivable $ 75 69 40 Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment 45 31 48 28 зе 30e 268 Less: Accumulated depreciation (43)...
The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) 2017 2018 Assets $ 26 $45 Cash 59 Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment 50 (4) (5) 6 4 56 67 16 27 46 91 Land Buildings and equipment Less: Accumulated...
Check my work 4 Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also Part 2 of 2 DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ( in 000s) 10 2018 2017 points Assets Cash $ 36 26 Accounts receivable 57 53 Less: Allowance for uncollectible accounts Dividends receivable 85 eBook Inventory Long-term investment Land 80...
Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 $ in e08s) 2018 2817 Assets Cash Accounts receivable $.75、$69 Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment 45 31 60 268 40 28 30 380 Buildings and equipment Less: Accumulated depreciation (43) (80) $ 474...
Please help thank you Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 in 000s) 2018 2017 Assets s 60 39 78 Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable 90 52 85 Inventory Long-term investment Land 46 95 75 Buildings and equipment Less: Accumulated...
DUX CONPANY Comparative Balance Sheets December 31, 2018 and 2017 (S in 000s) 2018 2017 Assets Cash Accounts receivable s 61 56 60 51 Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment 45 30 35 275 310 (51)(90) 492 450 50 32 70 Less: Accumulated depreciation Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable s 59 73 16 35 95 70 Less: Discount on bonds Shareholders Equity Common...
1. the comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Wright Company. Additional information from Wright's accounting records is provided also. WRIGHT COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) 2018 2017 Assets Cash $ 109 $ 70 Accounts receivable 110 115 Short-term investment 52 24 Inventory 115 110 Land 82 100 Buildings and equipment 615 480 Less: Accumulated depreciation (163 ) (115 ) $ 920...