Land was acquired for $29,900 in exchange for common stock, par $29.900, during the year, all equipment purchased was for cash.Equipment costing $13,100 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $9.900 were declaredand paid during the year.Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign eg.-12.000 or in parenthesis eg. (12,000).)ab.CNet CashNet CashNet CashprovidedSave for LaterusedusedeTextbook and Mediaby operating activities. $by investing activities. $by financing activities.$ The balance sheet data of Marin Company at the end of 2025 and 2024 follow.CashAccounts receivable (net)InventoryPrepaid expensesEquipmentAccumulated depreciation-equipmentLandAccounts payableAccrued expensesNotes payable-bank, long-termBonds payableCommon stock, $10 parRetained earnings2025$30,30054,50065,70015,00089,400$65,10015,200-0-29,700190,2002024(17,880)(8,100)70,30040,400$307,320 $257,5007,120$307,320$34,70045,20045,30025,10074.900$51.70018,00022,700-0-160,3004,800$257.500Land was acquired for $29,900 in exchange for common stock, par $29,900, during the year; all equipment purchased was for cash.Equipment costing $13,100 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $9.900 were declaredand paid during the year.Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a sima 17000

The cash flow statement is prepared to record the cash flow from various activities during the…

Land was acquired for $29,900 in exchange for common stock, par $29.900, during the year, all equipment purchased was for cash. Equipment costing $13,100 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $9,900 were declared and paid during the year. Compute net cash provided (used) by. (Show amounts that decrease cash flow with either a-sign eg.-12.000 or in parenthesis eg. (12,000)) a b. C Net Cash Net Cash Net Cash provided by operating activities. used used eTextbook and Media $ by investing activities. $ by financing activities. $

Land was acquired for $29,900 in exchange for common stock, par $29.900, during the year, all equipment purchased was for cash. Equipment costing $13,100 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $9,900 were declared and paid during the year. Compute net cash provided (used) by. (Show amounts that decrease cash flow with either a-sign eg.-12.000 or in parenthesis eg. (12,000)) a b. C Net Cash Net Cash Net Cash provided by operating activities. used used eTextbook and Media $ by investing activities. $ by financing activities. $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Condensed financial data of Sheridan Company for 2025 and 2024 are presented below. Cash Receivables Inventory Plant assets Sheridan Company Comparative Balance Sheet As of December 31, 2025 and 2024 Accumulated depreciation Long-term investments (held-to-maturity) Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings 2025 $1,780 1,760 1,620 1,910 1,670 (1,210) (1,160) 1,330 1,440 $7,190 $6,280 $1,230 210 2024 $1,170 1,370 1,920 2,460 $7,190 1,280 1,880 $920 250 1,560 1,680 1,870 $6,280
Balance sheet data of Indigo Company at the end of 2025 and 2024 follow: 2025 Cash Accounts Receivable (net) Inventory Prepaid expenses Buildings and equipment Accumulated depreciation - buildings and equipment Land Totals Accounts payable Accrued Expenses Noted payable - bank, long-term Mortgage Payable Common stock $10 par Retained earnings (deficit) A-121000 B-0 102000 239000 278000 38000 358000 (71000) 359000 1303000 C-(80000) 270000 48000 D-(32000) 121000 833000 31000 Land was acquired for $198000 in exchange for common stock, par $198000, during the year; all equipment purchased was for cash. Equipment costing $23000 was sold for $10000; book value of the equipment was $18000 and the loss was reported in net income. Cash dividends of $32000 were charged to retained earnings and paid during the year; the transfer of net income to retained earnings was the only other entry in the Retained Earnings account. 2024 141000 180000 179000 107000 301000 (33000) 161000 1036000 In Indigo's…
The balance sheet data of Sweet Company at the end of 2025 and 2024 follow. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings a b. C. 2025 2024 $29,700 $34,800 54,700 45,400 65,300 45,000 15,100 25,200 89,600 75,800 (17,920) (7,900) 70,500 39,700 $306,980 $258,000 Land was acquired for $30,800 in exchange for common stock, par $30,800, during the year; all equipment purchased was for cash. Equipment costing $12.900 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $9,900 were declared and paid during the year. $64,400 $51,400 15,100 17,800 -0- 23,200 30,200 -0- 187,400 156,600 9,880 Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign e.g. -12,000 or in parenthesis e.g. (12,000).) Net Cash used $306,980 Net Cash used Net Cash provided by…
A comparative balance sheet for Gena Company appears below:GENA COMPANYComparative Balance SheetDec. 31, 2021 Dec. 31, 2020AssetsCash $ 34,000 $11,000Accounts receivable 21,000 13,000Inventory 35,000 17,000Prepaid expenses 6,000 9,000Long-term investments -0- 17,000Equipment 60,000 33,000Accumulated depreciation—equipment (20,000) (15,000)Total assets $136,000 $85,000Liabilities and Stockholders' EquityAccounts payable $ 17,000 $ 7,000Bonds payable 36,000 45,000Common stock 53,000 23,000Retained earnings 30,000 10,000Total liabilities and stockholders' equity $136,000 $85,000Additional information:1. Net income for the year ending December 31, 2021 was $35,000.2. Cash dividends of $15,000 were declared and paid during the year.3. Long-term investments that had a cost of $17,000 were sold for $14,000.4. Depreciation expense for the year was $5,000.InstructionsPrepare a full statement of cash flows for the year ended December 31, 2021, using the indirectmethod.
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The balance sheet data of Flounder Company at the end of 2020 and 2019 are shown below. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings (a) (b) (c) Net Cash Net Cash 2020 $29,800 55,100 65,400 15,200 89,200 (17,840) 70,700 $307,560 Net Cash $65,500 15,100 -0- 30,000 188,100 8.860 $307,560 ✓by operating activities Land was acquired for $30,300 in exchange for common stock, par $30,300, during the year, all equipment purchased was for cash. Equipment costing $12.900 was sold for $3,000, book value of the equipment was $6,100 Cash dividends of $10,000 were declare and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign eg-12.000 or in parenthesis es (12.00 V by investing activities 2019 $34,800 44,800 ✓by financing activities 45,100 25,100 74,200…
The balance sheet data of Marigold Company at the end of 2025 and 2024 follow. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings 2025 $30,100 55,000 64,600 15,000 90,200 (18,040) 70,200 $64,600 74,500 (8,000) 39,800 $307,060 $256,100 14,800 -0- 30,300 190,400 2024 6,960 $35,100 44,900 45,100 24,700 $52,500 17,900 22,900 -0- 160,000 2,800 $307,060 $256,100
Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,180 $1,836Accounts receivable, net 3,600 3,180Inventories 2,738 3,019Other current assets 1,932 1,590Total current assets $11,450 $9,625Current liabilities $4,830 $5,887 Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25 : 1. Enter working capital answers to million.) Current ratio 2019 :12020 :1 Working capital 2019 $ million2020 $ million Link to Text
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Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,200 $1,845Accounts receivable, net 3,450 3,180Inventories 2,639 3,042Other current assets 1,872 1,549Total current assets $11,161 $9,616Current liabilities $4,853 $5,893 (a)Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25 : 1. Enter working capital answers to million.) Current ratio 2019 :12020 :1 Working capital 2019 $ million2020 $ million (b)The parts of this question must be completed in order. This part will be available when you complete the part above.
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