Bridgeport Corporation’s balance sheet at the end of 2019 included the following items.Current assets (Cash $ 82,000) $ 236,480 Current liabilities $ 151,480Land 32,960 Bonds payable 101,480Buildings 121,480 Common stock 182,960Equipment 92,960 Retained earnings 46,960Accum. depr.-buildings ( 31,480) Total $ 482,880Accum. depr.-equipment ( 11,000) Patents 41,480 Total $ 482,880 The following information is available for 2020.1. Net income was $ 54,810.2. Equipment (cost $ 21,480 and accumulated depreciation $ 9,480) was sold for $ 11,480.3. Depreciation expense was $ 5,480 on the building and $ 10,480 on equipment.4. Patent amortization was $ 2,500.5. Current assets other than cash increased by $ 29,000. Current liabilities increased by $ 14,480.6. An addition to the building was completed at a cost of $ 28,480.7. A long-term investment in stock was purchased for $ 16,000.8. Bonds payable of $ 52,960 were issued.9. Cash dividends of $ 30,000 were declared and paid.10. Treasury stock was purchased at a cost of $ 11,000.(a) Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) The image appears to show a web form with various dropdown menus and text input boxes. Here's a textual transcription, suitable for an educational website:---**Web Form Template****Dropdown Menus:**1. [Dropdown 1]2. [Dropdown 2]3. [Dropdown 3]4. [Dropdown 4]5. [Dropdown 5]6. [Dropdown 6]7. [Dropdown 7]8. [Dropdown 8]**Text Input Fields:**1. [Input Box 1]2. [Input Box 2]3. [Input Box 3]4. [Input Box 4]5. [Input Box 5]6. [Input Box 6]This template illustrates how online forms can be structured with a combination of dropdown menus and text input fields to gather user information efficiently. Each dropdown allows users to select an option from a predefined list, while text fields enable the input of specific data.---There are no graphs or diagrams in the image that require detailed explanation. **BRIDGEPORT CORPORATION: Statement of Cash Flows**- Dropdown menus and input fields are present for various components of the statement.- There are sections for entering data related to financial figures.**Adjustments to Reconcile Net Income:**- Multiple dropdown menus allow selection of adjustment categories.- Corresponding input fields are provided for entering dollar amounts.The structure of this form suggests it is designed to input data to calculate cash flow adjustments. It provides a systematic way to record financial information to understand cash movement, particularly for reconciling net income with actual cash flows.

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

Bridgeport Corporation’s balance sheet at the end of 2019 included the following items. Current assets (Cash $ 82,000) $ 236,480 Current liabilities $ 151,480 Land 32,960 Bonds payable 101,480 Buildings 121,480 Common stock 182,960 Equipment 92,960 Retained earnings 46,960 Accum. depr.-buildings ( 31,480 ) Total $ 482,880 Accum. depr.-equipment ( 11,000 ) Patents 41,480 Total $ 482,880 The following information is available for 2020. 1. Net income was $ 54,810. 2. Equipment (cost $ 21,480 and accumulated depreciation $ 9,480) was sold for $ 11,480. 3. Depreciation expense was $ 5,480 on the building and $ 10,480 on equipment. 4. Patent amortization was $ 2,500. 5. Current assets other than cash increased by $ 29,000. Current liabilities increased by $ 14,480. 6. An addition to the building was completed at a cost of $ 28,480. 7. A long-term investment in stock was purchased for $ 16,000. 8. Bonds payable of $ 52,960 were issued. 9. Cash dividends of $ 30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $ 11,000. (a) Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with either a - sign e.g. -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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(a)

Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

The image appears to show a web form with various dropdown menus and text input boxes. Here's a textual transcription, suitable for an educational website:

---

**Web Form Template**

**Dropdown Menus:**
1. [Dropdown 1]
2. [Dropdown 2]
3. [Dropdown 3]
4. [Dropdown 4]
5. [Dropdown 5]
6. [Dropdown 6]
7. [Dropdown 7]
8. [Dropdown 8]

**Text Input Fields:**
1. [Input Box 1]
2. [Input Box 2]
3. [Input Box 3]
4. [Input Box 4]
5. [Input Box 5]
6. [Input Box 6]

This template illustrates how online forms can be structured with a combination of dropdown menus and text input fields to gather user information efficiently. Each dropdown allows users to select an option from a predefined list, while text fields enable the input of specific data.

---

There are no graphs or diagrams in the image that require detailed explanation.

**BRIDGEPORT CORPORATION: Statement of Cash Flows**

- Dropdown menus and input fields are present for various components of the statement.
- There are sections for entering data related to financial figures.

**Adjustments to Reconcile Net Income:**

- Multiple dropdown menus allow selection of adjustment categories.
- Corresponding input fields are provided for entering dollar amounts.

The structure of this form suggests it is designed to input data to calculate cash flow adjustments. It provides a systematic way to record financial information to understand cash movement, particularly for reconciling net income with actual cash flows.

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Current assets (Cash $ 82,000)	$ 236,480		Current liabilities	$ 151,480
Land	32,960		Bonds payable	101,480
Buildings	121,480		Common stock	182,960
Equipment	92,960		Retained earnings	46,960
Accum. depr.-buildings	( 31,480	)	Total	$ 482,880
Accum. depr.-equipment	( 11,000	)
Patents	41,480
Total	$ 482,880

1.		Net income was $ 54,810.
2.		Equipment (cost $ 21,480 and accumulated depreciation $ 9,480) was sold for $ 11,480.
3.		Depreciation expense was $ 5,480 on the building and $ 10,480 on equipment.
4.		Patent amortization was $ 2,500.
5.		Current assets other than cash increased by $ 29,000. Current liabilities increased by $ 14,480.
6.		An addition to the building was completed at a cost of $ 28,480.
7.		A long-term investment in stock was purchased for $ 16,000.
8.		Bonds payable of $ 52,960 were issued.
9.		Cash dividends of $ 30,000 were declared and paid.
10.		Treasury stock was purchased at a cost of $ 11,000.