Homework Answers
B. 3050000
When land was sold cash inflow was. 5050000
Cash outflow for purchase of equipment. (2000000)
Net. 3050000
Here note payable is not an investment activity and thus not considered
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m Modest Trading Company, land decreased $5,050.000 because of a cash sale for 5,050,000, the equipment account inc...
17) $5,050,000 because of a cash sale for $5,050,000, the equipment account increased $2,000,000 as a...
17) $5,050,000 because of a cash sale for $5,050,000, the equipment account increased $2,000,000 as a result of a cash purchase, and Note Payable increased $320,000 from issuance for cash at face value. The net cash provided by investing activities is $3,370,000 In Modest Trading Company, land decreased а. $3,050,000. b. $3,900,000. с. $3,070,000. d.
Mary Andrews, Inc. had the following transactions: Cash proceeds on sale of land Cash proceeds on...
Mary Andrews, Inc. had the following transactions: Cash proceeds on sale of land Cash proceeds on sale of equipment Purchase of treasury stock with cash Purchase of equipment with cash Issuance of common stock for cash $450,000 140,000 48,000 47,000 70,000 On a statement of cash flows prepared under the indirect method, Net cash provided by investing activities is: O A. $543,000. O B. $495,000. O c. $590,000 OD. $565,000.
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...
Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable...
Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,730 $ 22,000 84,480 68,750 182,480 191,750 73,480 112,750 262,480 202,750 (71,480) (44,750) $604,170 $553,250 $36,480 150,000 214,000 203,690 $604,170 $ 49,750 200,000 164,000 139,500 $553,250 Additional information: 1. Net income for 2020 was $129,960. No gains or losses were recorded in 2020. Cash dividends of $65,770 were declared and...
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...
Con- Sweet Corporation engaged in the following cash transactions during 2020. Sale of land and building...
Con- Sweet Corporation engaged in the following cash transactions during 2020. Sale of land and building Purchase of treasury stock $199,200 41,000 42,200 Purchase of land port Payment of cash dividend 87,800 Purchase of equipment 57,600 Issuance of common stock 154,800 Retirement of bonds 106,800 Compute the net cash provided (used) by Investing activities. (Show amounts that decrease cash flow with either a sign e.3.-15,000 or in parenthesis e.g. (15,000).) SWEET CORPORATION Statement of Cash Flows (Partial) Compute the net...
Ivanhoe Corporation engaged in the following cash transactions during 2020. Sale of land and building $192,500...
Ivanhoe Corporation engaged in the following cash transactions during 2020. Sale of land and building $192,500 Purchase of treasury stock 40,900 Purchase of land 42,400 Payment of cash dividend 94,600 Purchase of equipment 57,300 Issuance of common stock 147,100 Retirement of bonds 109,400 Compute the net cash provided (used) by investing activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) VANHOE CORPORATION Statement of Cash Flows (Partial)
Sweet Corporation engaged in the following cash transactions during 2020. Sale of land and building $198,100...
Sweet Corporation engaged in the following cash transactions during 2020. Sale of land and building $198,100 Purchase of treasury stock 44,100 Purchase of land 42,000 Payment of cash dividend 94,500 Purchase of equipment 53,800 Issuance of common stock 149,200 Retirement of bonds 108,100 Compute the net cash provided (used) by investing activities. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) SWEET CORPORATION Statement of Cash Flows (Partial),
2. Last year Burch Corporation's cash account decreased by $34,000. Net cash provided by (used in)...
2.
Last year Burch Corporation's cash account decreased by $34,000. Net cash provided by (used in) investing activities was $8,900. Net cash provided by (used in) financing activities was $(31,500). On the statement of cash flows, the net cash provided by (used in) operating activities was: The following events occurred last year at Dorder Corporation: Purchase of plant and equipment Sale of long-term investment Dividends received on long-term investments Paid off bonds payable Depreciation expense $39,000 $18,000 $10,000 $23,500 $12,000...
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...
17) $5,050,000 because of a cash sale for $5,050,000, the equipment account increased $2,000,000 as a result of a cash purchase, and Note Payable increased $320,000 from issuance for cash at face value. The net cash provided by investing activities is $3,370,000 In Modest Trading Company, land decreased а. $3,050,000. b. $3,900,000. с. $3,070,000. d.
Mary Andrews, Inc. had the following transactions: Cash proceeds on sale of land Cash proceeds on sale of equipment Purchase of treasury stock with cash Purchase of equipment with cash Issuance of common stock for cash $450,000 140,000 48,000 47,000 70,000 On a statement of cash flows prepared under the indirect method, Net cash provided by investing activities is: O A. $543,000. O B. $495,000. O c. $590,000 OD. $565,000.
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...
Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,730 $ 22,000 84,480 68,750 182,480 191,750 73,480 112,750 262,480 202,750 (71,480) (44,750) $604,170 $553,250 $36,480 150,000 214,000 203,690 $604,170 $ 49,750 200,000 164,000 139,500 $553,250 Additional information: 1. Net income for 2020 was $129,960. No gains or losses were recorded in 2020. Cash dividends of $65,770 were declared and...
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...
Con- Sweet Corporation engaged in the following cash transactions during 2020. Sale of land and building Purchase of treasury stock $199,200 41,000 42,200 Purchase of land port Payment of cash dividend 87,800 Purchase of equipment 57,600 Issuance of common stock 154,800 Retirement of bonds 106,800 Compute the net cash provided (used) by Investing activities. (Show amounts that decrease cash flow with either a sign e.3.-15,000 or in parenthesis e.g. (15,000).) SWEET CORPORATION Statement of Cash Flows (Partial) Compute the net...
Sweet Corporation engaged in the following cash transactions during 2020. Sale of land and building $198,100 Purchase of treasury stock 44,100 Purchase of land 42,000 Payment of cash dividend 94,500 Purchase of equipment 53,800 Issuance of common stock 149,200 Retirement of bonds 108,100 Compute the net cash provided (used) by investing activities. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) SWEET CORPORATION Statement of Cash Flows (Partial),
2.
Last year Burch Corporation's cash account decreased by $34,000. Net cash provided by (used in) investing activities was $8,900. Net cash provided by (used in) financing activities was $(31,500). On the statement of cash flows, the net cash provided by (used in) operating activities was: The following events occurred last year at Dorder Corporation: Purchase of plant and equipment Sale of long-term investment Dividends received on long-term investments Paid off bonds payable Depreciation expense $39,000 $18,000 $10,000 $23,500 $12,000...
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...
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