perpare a statment of cash flows for 2020 for Bonita Corporation. A comparative balance sheet for Bonita Corporation is presented as follows.AssetsCashAccounts receivableInventoryLandEquipmentAccumulated Depreciation-EquipmentTotalLiabilities and Stockholders' EquityAccounts payableBonds payableCommon stock ($1 par)Retained earningsTotalAdditional information:1.2.3.December 312020$72,82083,440181,44072,440261,440(70,440 )$601,140$ 35,440150,000214,000201,700$601,1402019$ 22,00067,620190,620111,620201,620(43,620$549,860$ 48,620200,000164,000137,240$549,860Net income for 2020 was $127,880. No gains or losses were recorded in 2020.Cash dividends of $63,420 were declared and paid.Bonds payable amounting to $50,000 were retired through issuance of common stock.

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

A comparative balance sheet for Bonita Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payablo December 31 2020 $72,820 83,440 181,440 72,440 261,440 (70,440 ) $601,140 $35 110 2019 $ 22,000 67,620 190,620 111,620 201,620 (43,620 ) $549,860 $18.620

A comparative balance sheet for Bonita Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payablo December 31 2020 $72,820 83,440 181,440 72,440 261,440 (70,440 ) $601,140 $35 110 2019 $ 22,000 67,620 190,620 111,620 201,620 (43,620 ) $549,860 $18.620

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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