Assets: Current Assets: Cash Accounts Receivable (net) Merchandise Inventory Prepaid Expenses Total Current Assets Long-Term Investments Plant Assets: Property, Plant & Equipment Accumulated Depreciation Total Plant Assets. Total Assets Thistle Inc. Comparative Balance Sheets Equities: Current Liabilities: Accounts Payable Accrued Expenses Total Current Liabilities Long-Term Notes Payable Stockholders' Equity: Common Stock Paid-in-Capital Retained Earnings Total Equities December 31, 2020 2021 $ 690,000 1,560,000 1,950,000 351,000 4,551,000 225,000 2,190,000 (450,000) 1,740,000 $ 540,000 1,080,000 1,260,000 315,000 3,195,000 50,000 1,390,000 (270,000) 1,120,000 $6.516.000 $4.365.000 3,150,000 20,000 937,000 $6,516,000 $1,275,000 $1,095,000 309,000 282,000 1,584,000 1,377,000 825,000 0 2,400,000 10,000 578,000 $4.365.000

Assets: Current Assets: Cash Accounts Receivable (net) Merchandise Inventory Prepaid Expenses Total Current Assets Long-Term Investments Plant Assets: Property, Plant & Equipment Accumulated Depreciation Total Plant Assets. Total Assets Thistle Inc. Comparative Balance Sheets Equities: Current Liabilities: Accounts Payable Accrued Expenses Total Current Liabilities Long-Term Notes Payable Stockholders' Equity: Common Stock Paid-in-Capital Retained Earnings Total Equities December 31, 2020 2021 $ 690,000 1,560,000 1,950,000 351,000 4,551,000 225,000 2,190,000 (450,000) 1,740,000 $ 540,000 1,080,000 1,260,000 315,000 3,195,000 50,000 1,390,000 (270,000) 1,120,000 $6.516.000 $4.365.000 3,150,000 20,000 937,000 $6,516,000 $1,275,000 $1,095,000 309,000 282,000 1,584,000 1,377,000 825,000 0 2,400,000 10,000 578,000 $4.365.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: How about the payment of cash dividend? Under what cash flow activity, would you record it

A: Meaning of cash flow statement It is a statement which is used as a tool by an organization which…

Q: Which calculation

A: A pro forma balance sheet is similar to a historical balance sheet, but it represents…

Q: how to find total stockholders equity

A: Accounting Equation has to be considered as the origination of the double entry system. Under…

Q: What’s the effect of Declaration of a cash dividend on the cash flow statement

A: Cash dividend refers to the net amount of dividend that a company pays to its shareholders in the…

Q: Define cash dividend.

Q: balance sheet, cash flow, and income statement interrelationships

A: This question deals with the Interrelationships between the balance sheet, cash flow statement, and…

Q: How did you calculate cash flow to stockholders? How did you calculate beginning and ending equity?

A: Cash flow to stock holders is the net amount paid to stockholders during the year. It is calculated…

Q: Determine the effect on the statement of cash flows. Section: Operating, Investing, Financing or…

A: Cash flow activities are divided into three types activities as follows: Operating activities…

Q: The order of presentation of activities on the statement of cash flows is a. operating,…

A: Cash Flow Statement - Under Cash Flow there are three type activities involved - 1. Operating…

Q: The ________ is a measure of a company's ability to pay its current liabilities from cash and cash…

A: Cash conversion cycle is a working capital metric which expresses how many days it takes a company…

Q: Question Content Area On the statement of cash flows, the financing activities section would…

A: The objective of this question is to identify which of the given options is not typically included…

Q: Cash dividends paid to shareholders are classified on the statement of cash flows as: a. operating…

A: Cash flow statement is a part of financial statements to be prepared by a firm for each accounting…

Q: Which of the following would be included in cash flows from investing activities? Select one: a.…

A: Investing activity: It can be defined as the activity related to the sale and purchase of long term…

Q: The order of presentation of activities on the statement of cash flows is a.operating, financing,…

A: The cash flow statement is helpful for the stakeholders that they can identify the organization's…

Q: Question Content Area On the statement of cash flows, the financing activities section would…

A: The objective of this question is to identify which of the given options is not typically included…

Q: How are the balance sheet and the statement of cash flows linked? a. By the cash balance b.…

A: The cash flow statement seems to be a financial statement that describes the sum of cash & cash…

Q: The value of anything can be determined if you know the amount and timing of related: Net…

A: Cashflow helps to calculate Income statement. From income statement, we can calculate Earnings…

Q: How to determine cash portion of retained earnings

A: Retained earnings are that part of profit which is reinvested in the business. It is the amount left…

Q: Dividends received from an investment are classified as a(n). and paying dividends on stock issued…

A: Cash flow statement: The cash flow statement shows the movement of cash during a particular period.…

Q: Describe the event of “stock dividend” in terms of cash flows and accounting entries to the Balance…

A: Dividends are the amount paid to the shareholders of the company from the profits in return for the…

Q: Why would "Stock-based Compenstion" be added back to earnings in operating activities in a Statement…

A: In a cash flow statement, cash flows from operating activities are those activities which are done…

Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Help with Statement of cash flow

Assets

Liabilites

Total Liabilties

stockholders equity

Total Stockholders Equity

Total Liabilites & Stockholdrs Equity

Then Incomestatement

Net Credit Sales
Cost of Goods Sold
Gross Profit
Thistle, Inc.
Comparative Income Statements
FYE December 31, 2018
Expenses
Loss on Sale of Investment
Net Income
2018
$7,020,000
3,915,000
3,105,000
2,576,000
10,000
$ 519,000
Additional Information: Investments originally costing $50,000 were sold for
$40,000. No PPE was sold.

Assets:
Current Assets:
Cash
Accounts Receivable (net)
Merchandise Inventory
Prepaid Expenses
Total Current Assets
Long-Term Investments
Plant Assets:
Property, Plant & Equipment
Accumulated Depreciation
Total Plant Assets
Total Assets
Equities:
Current Liabilities:
Thistle Inc.
Comparative Balance Sheets
Accounts Payable
Accrued Expenses
Total Current Liabilities
Long-Term Notes Payable
Stockholders' Equity:
Common Stock
Paid-in-Capital
Retained Earnings
Total Equities
December 31,
2020
2021
$ 690,000
1,560,000
1,950,000
351,000
4,551,000
225,000
$ 540,000
1,080,000
1,260,000
315,000
3,195,000
50,000
2,190,000
(450,000)
1,740,000
1,120,000
$6.516.000 $4.365.000
309,000
1,584,000
825,000
1,390,000
(270,000)
$1,275,000 $1,095,000
282,000
1,377,000
0
3,150,000
20,000
937,000
$6,516,000
2,400,000
10,000
578,000
$4,365,000

Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Explanation -

VIEW

Step 2: Computation -

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Classifying Items in the Statement of Cash Flows The following items are commonly reported in a statement of cash flows (indirect method presentation). For each item 1 through 20, determine (a) in which section the item is presented (operating, investing, or financing) and (b) whether the associated dollar amount is added or subtracted in the statement. (a) (b) 1. Payments of short-term debt. Answer Answer 2. Repurchases of common stock. Answer Answer 3. Purchases of property and equipment. Answer Answer 4. Sale of investments classified as long-term. Answer Answer 5. Proceeds from the issuance of common stock. Answer Answer 6. Increase in prepaid expenses and other current assets. Answer Answer 7. Acquisition for cash of a competitor. Answer Answer 8. Increase in current income tax payable. Answer Answer 9. Decrease in accounts payable. Answer Answer 10. Dividends paid to stockholders. Answer Answer 11.…
Which of the following is included on the statement of cash flows? a.Cash flows from (used for) investing activities b.Changes in retained earnings c.Total changes in stockholders' equity d.Total assets
Where to report Exercise of stock options on cash flow statement?
Define each of the following terms:a. Annual report; balance sheet; income statement; statement of cash flows; statement ofstockholders’ equityb. Stockholders’ equity; retained earnings; working capital; net working capital; net operatingworking capital (NOWC); total debtc. Depreciation; amortization; operating income; EBITDA; free cash flow (FCF)d. Net operating profit after taxes (NOPAT)e. Market value added (MVA); economic value added (EVA)f. Progressive tax; marginal tax rate; average tax rateg. Tax loss carryback; carryforward; alternative minimum tax (AMT)h. Traditional IRAs; Roth IRAsi. Capital gain (loss)j. S corporation
When identifying cash flow what is the issue of common stock is classified?
The direct and indirect methods relate to this section on the statement of cash flows: Group of answer choices investing & financing investing operating operating, investing, and financing
Activity reported in the Financing Activities section of the statement of cash flows would include accounts classified as a.current assets and current liabilities. b.long-term assets and long-term liabilities. c.long-term liabilities and stockholders' equity. d.current liabilities and stockholders' equity.
Quiz Question Please tell me what statement or statments End-of-period Retained Earnings Balance is on: Options: Income Statement Balance Sheet Statement of Cash Flows Statement of Retained Earnings
The sale of treasury stock will be reported as a in the section of the cash flow statement. O Cash Outflovw; Operating O Cash Inflow, Financing O Cash Inflow; Operating O Cash Outflow; Financing
O Balance sheet In analyzing a company's financial statements, which financial statement would a potential investor primarily use to assess the company's liquidity and financial fiexibility? O Income statement O Staterment of retained earnings Statement of cash flows
Cash outflows related to dividend payments will appear in the the Statement of Cash Flows. section on Investing Financing Operating
Which is a component of stockholder's equity? a. Sinking funds b. Deferred charges c. Accumulated other comprehensive income d. Realized capital