Bonita Industries's balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below. Assets Cash Short-term investments Accounts receivable (net) Inventory Long-term investments Plant assets Accumulated depreciation Patent Total assets Liabilities and Stockholders' Equity Accounts payable and accrued liabilities Notes payable (nontrade) Common stock, $10 par Additional paid-in capital Retained earnings Total liabilities and stockholders' equity December 31, 2021 2020 $ 442000 600000 1020000 1020000 1370000 1190000 399000 600000 3400000 1980000 (899000) (899000) 181000 202000 $6513000 $4292000 $ 199000 $1640000 $1450000 580000 1664000 1420000 800000 501000 1829000 921000 $6513000 $4292000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Information relating to 2021 activities:
.Net income for 2021 was $1510000.
• Cash dividends of $602000 were declared and paid in 2021
• Equipment costing $1000000 and having a carrying amount of $318000 was sold in 2021 for $358000.
• A long-term investment was sold in 2021 for $318000. There were no other transactions affecting long-term investments in 2021
• 24400 shares of common stock were issued in 2021 for $25 a share
• Short-term investments consist of treasury bills maturing on 6/30/22
Net cash provided by Bonita's 2021 operating activities was
O $2066000.
O $2106000
Ⓒ$1510000
O $2146000.
Transcribed Image Text:Information relating to 2021 activities: .Net income for 2021 was $1510000. • Cash dividends of $602000 were declared and paid in 2021 • Equipment costing $1000000 and having a carrying amount of $318000 was sold in 2021 for $358000. • A long-term investment was sold in 2021 for $318000. There were no other transactions affecting long-term investments in 2021 • 24400 shares of common stock were issued in 2021 for $25 a share • Short-term investments consist of treasury bills maturing on 6/30/22 Net cash provided by Bonita's 2021 operating activities was O $2066000. O $2106000 Ⓒ$1510000 O $2146000.
Bonita Industries's balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are
presented below.
Assets
Cash
Short-term investments
Accounts receivable (net)
Inventory
Long-term investments
Plant assets
Accumulated depreciation
Patent
Total assets
Liabilities and Stockholders' Equity
Accounts payable and accrued
liabilities
Notes payable (nontrade)
Common stock, $10 par
Additional paid-in capital
Retained earnings
Total liabilities and
stockholders' equity
December 31,
2021
$ 442000
600000
1020000
1370000
399000
1020000
1190000
600000
1980000
(899000)
(899000)
181000
202000
$6513000 $4292000
3400000
$1640000
2020
580000
$ 199000
$1450000
1664000
800000
1829000
$6513000 $4292000
1420000
501000
921000
Transcribed Image Text:Bonita Industries's balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below. Assets Cash Short-term investments Accounts receivable (net) Inventory Long-term investments Plant assets Accumulated depreciation Patent Total assets Liabilities and Stockholders' Equity Accounts payable and accrued liabilities Notes payable (nontrade) Common stock, $10 par Additional paid-in capital Retained earnings Total liabilities and stockholders' equity December 31, 2021 $ 442000 600000 1020000 1370000 399000 1020000 1190000 600000 1980000 (899000) (899000) 181000 202000 $6513000 $4292000 3400000 $1640000 2020 580000 $ 199000 $1450000 1664000 800000 1829000 $6513000 $4292000 1420000 501000 921000
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