Additional information:1.2.3.4.5.6.7.Net income for 2022 was $101,700.Depreciation expense was $32,300.Cash dividends of $40,600 were declared and paid.Bonds payable with a carrying value of $55,000 were redeemed for $55,000 cash.Common stock was issued at par for $42,600 cash.No equipment was sold during 2022.Land was sold for its book value.Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000, or in parenthesis e.g. (15,000).) AssetsCashAccounts receivableInventoryLandVAUGHN CompanyComparative Balance SheetsDecember 31EquipmentAccumulated depreciation-equipmentTotalLiabilities and Stockholders' EquityAccounts payableBonds payableCommon stock ($1 par)Retained earningsTotal2022$73,30085,800169,60072,900259,800(65,800)$595,600$35,100148,000215,200197,300$595,6002021$32,90070,600187,200101,200200,700(33,500)$559,100$47,300203,000172,600136,200$559,100

Name: Additional information:1.2.3.4.5.6.7.Net income for 2022 was $101,700
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Description: Additional information:1.2.3.4.5.6.7.Net income for 2022 was $101,700.Depreciation expense was $32,300.Cash dividends of $40,600 were declared and paid.Bonds payable with a carrying value of $55,000 were redeemed for $55,000 cash.Common stock was is

A cash flow statement indicates cash inflow and outflow information for a particular time period and…

Business

Accounting

Additional information: 1. 2. 3. 4. 5. 6. 7. Net income for 2022 was $101,700. Depreciation expense was $32,300. Cash dividends of $40,600 were declared and paid. Bonds payable with a carrying value of $55,000 were redeemed for $55,000 cash. Common stock was issued at par for $42,600 cash. No equipment was sold during 2022. Land was sold for its book value. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg -15.000, or in parenthesis e.g. (15,000).)

Additional information: 1. 2. 3. 4. 5. 6. 7. Net income for 2022 was $101,700. Depreciation expense was $32,300. Cash dividends of $40,600 were declared and paid. Bonds payable with a carrying value of $55,000 were redeemed for $55,000 cash. Common stock was issued at par for $42,600 cash. No equipment was sold during 2022. Land was sold for its book value. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg -15.000, or in parenthesis e.g. (15,000).)

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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198. Subject : - Accounting
XYZ Inc. had the following transactions during 2025: 1. Issued $250000 of par value common stock for cash. 2. Recorded and paid salaries and wages expense of $128500. 3. Acquired land by issuing common stock valued at $100000. 4. Declared and paid a cash dividend of $21600. 5. Sold a land (cost $6000) for cash of $6000. 6. Recorded cash sales of $820000. 7. Bought inventory for cash of $268000. 8. Acquired equipment for cash of $43100. 9. Converted bonds payable to common stock in the amount of $1000000. 10. Repaid a 6-year note payable in the amount of $427000. What is the net cash provided (used) by financing activities? O $228400 O $777000 O $(198600) O $(1198600)
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Each of the following items must be considered in preparing a statement of cash flows for Blackwell Inc. for the year ended December 31, 2020. State where each item is to be shown in the statement, if at all. Plant assets that had cost $18,000 6½ years before and were being depreciated on a straight-line basis over 10 years with no estimated scrap value were sold for $4,000. During the year, 10,000 shares of common stock with a stated value of $20 a share were issued for $41 a share. Uncollectible accounts receivable in the amount of $22,000 were written off against Allowance for Doubtful Accounts. The company sustained a net loss for the year of $50,000. Depreciation amounted to $22,000, and a gain of $9,000 was realized on the sale of available-for-sale debt securities for $38,000 cash.
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Cash comp Accounts receivable Inventory Prepaid insurance Equipment Accumulated depreciation-equipment Total assets Bank loans Accounts payable Salaries and wages payable Interest payable Income tax payable As at December 31 Common shares neiatt OSICIONT 2023 $23,600 39,100 23,000 2,880 117,370 $26,450 4,600 2,300 4,600 34,500 (25,900) (14,400) $180,050 $169,600 74,800 Retained earnings Total liabilities and shareholders' equity $180,050 2022 32,800 $14,400 29,300 34,500 2,300 103,500 $23,000 2,300 3,450 5,750 39,600 74,800 20,700 $169,600
The balance sheet data of Blossom Company at the end of 2025 and 2024 are shown below. 2025 2024 Cash $7,500 $9,900 Accounts receivable (net) 80,500 87,700 Merchandise inventory 85,800 79,600 Prepaid expenses 9,000 12,000 Equipment 171,500 145,500 Accumulated depreciation-equipment (45,100) (36,500) Land 30,200 50,100 Total assets $339,400 $348,300 Accounts payable $45,200 $57,600 Accrued expenses 11,100 9,000 Notes payable-bank, short-term -0- 49,100 Bonds payable 19,900 -0- Common stock, $1 par 181,000 161,000 Retained earnings 82,200 71,600 Total liabilities and shareholders' equity $339,400 $348,300 Equipment was purchased for $20,000 in exchange for common stock, par $20,000, during the year; all other equipment purchased was for cash. Land was sold for $31,700. Cash dividends of $7,100 were declared and paid during the year. 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).) (a) Net cash…