Additional information: 1. Net income was $18,450. Dividends declared and paid were $14,300. 2. Equipment which cost $9,900 and had accumulated depreciation of $1,500 was sold for $3,4 3. No noncash investing and financing activities occurred during 2022. 4. Bonds were retired at their carrying value.
Additional information: 1. Net income was $18,450. Dividends declared and paid were $14,300. 2. Equipment which cost $9,900 and had accumulated depreciation of $1,500 was sold for $3,4 3. No noncash investing and financing activities occurred during 2022. 4. Bonds were retired at their carrying value.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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what would the
Transcribed Image Text:Vaughn Corporation's comparative balance sheets are as follows.
VAUGHN CORPORATION
Comparative Balance Sheets
December 31
2022
2021
Cash
$16,600
$17,200
Accounts receivable
25,400
22,400
Investments
19,850
16,250
Equipment
59,950
69,850
Accumulated depreciation-equipment
(14,150)
(10,300)
Total
$107,650
$115,400
Accounts payable
$14,450
$11,050
Bonds payable
10,100
30,000
Common stock
49,900
45,300
Retained earnings
33,200
29,050
Total
$107,650
$115,400
Additional information:
1.
Net income was $18,450. Dividends declared and paid were $14,300.
2.
Equipment which cost $9,900 and had accumulated depreciation of $1,500 was sold for $3,400.
3.
No noncash investing and financing activities occurred during 2022.
4.
Bonds were retired at their carrying value.
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