Carla Vista Pine Co. provided the following information on selected transactions during 2021: Repayment of bond principal Proceeds from issuing common stock Purchases of inventory Proceeds from the sale of treasury stock Purchase of 10% interest in stock of Hindi Corp. Dividends paid to common & preferred stockholders Proceeds from issuing preferred stock Proceeds from sale of land $452200 $141100. O $160100. $281300. $(780600). 760700 940600 121200 222500 81400 151700 382600 The net cash provided (used) by investing activities during 2021 is

Carla Vista Pine Co. provided the following information on selected transactions during 2021: Repayment of bond principal Proceeds from issuing common stock Purchases of inventory Proceeds from the sale of treasury stock Purchase of 10% interest in stock of Hindi Corp. Dividends paid to common & preferred stockholders Proceeds from issuing preferred stock Proceeds from sale of land $452200 $141100. O $160100. $281300. $(780600). 760700 940600 121200 222500 81400 151700 382600 The net cash provided (used) by investing activities during 2021 is

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

At the end of 2019, Haley Corporation had the following equity accounts and balances: Common stock, $10 par $800,000 Additional paid-in capital-common stock 200,000 Retained earnings 279,000 During 2020, Haley engaged in the following transactions involving its equity accounts: a. Sold 5,000 shares of common stock for $19 per share. b. Sold 1,200 shares of 12%, $50 par preferred stock at $75 per share. c. Declared and paid cash dividends of $22,000. d. Repurchased 1,000 shares of treasury stock (common) for $24 per share. e. Sold 300 of the treasury shares for $26 per share. Required: 1. Prepare the journal entries for Transactions a through e. 2. Assume that 2020 net income was $123,700. Prepare a statement of stockholders' equity at December 31, 2020.
1
E15-16 Contributed Capital Adams Company's records provide the following information on December 31, 2019: in, assuming it uses the cost method. 10 15.8 Account Title Additional Paid-in Capital on Preferred Stock Amount Common Stock Premium on Bonds Payable Preferred Stock Bonds Payable Preferred Stock Subscribed Retained Earnings Additional Paid-in Capital on Common Stock $ 17,000 75,000 4,000 80,000 100,000 20,000 121,000 84,000 SHOW ME HOW Additional information: 1. Common stock has a $5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a $100 par value, 3,000 shares are authorized, 800 shares have been issued and are out- standing. Two hundred shares have been subscribed at $120 per share. The stock pays an 8% dividend, is cumulative, and is callable at $130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital…
Please refer to the picture.
SFP accounts of Sandhill Inc., which follows IFRS, follow: Debit accounts Cash FV-NI investments Accounts receivable Merchandise inventory Machinery Buildings Land Credit accounts Sandhill Inc. Comparative Statement of Financial Position Accounts December 31, 2023 and 2022 Allowance for expected credit losses Accumulated depreciation-machinery Accumulated depreciation-buildings Accounts payable Accrued liabilities Income taxes payable Long-term note payable-non-trade Common shares Retained earnings Additional information: 1 2 3. 4. 2023 $44,900 22,660 67,390 30,430 29,400 67,420 7,500 $269,700 $1,290 5,795 13,350 29,590 2,405 910 26,300 150,000 40,060 $269,700 2022 $33,400 40,000 59,900 24,400 Sandhill's 2023 statement of income is as follows: 18,250 56,250 7,500 $239,700 $540 2,420 8,850 24,350 1,160 1,410 Sandhill has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. 31,300 125,000 44,670 $239,700 Cash dividends…
View Policies Current Attempt in Progress The following information was extracted from the accounts of Sandhill Co. at December 31, 2020: CR(DR). Total reported income since incorporation $4810000 Total cash dividends paid (2480000) Unrealized holding loss on available-for-sale securities (368000) Total stock dividends distributed (604000) Prior period adjustment, recorded January 1, 2020 226000 What should be the balance of retained earnings at December 31, 2020? O $1876000. O $ 1584000. O $ 1952000. O $ 3042800. Save for Later Attempts: 0 of 1 used Submit Answ
Consolidated Cash Flow Statement of Pineda Corporation and its subsidiary Swamy Corporation as of December 2019 and 2020: Assets 2020 2019 Net Change Incr. (Decr.) $ $ $ Cash 313,000 195,000 118,000 Marketable equity securities (at cost) 175,000 175,000 Allowance to reduce marketable equity securities to market (13,000) (24,000) 11,000 Accounts receivable (net) 418,000 440,000 (22,000) Inventories 595,000 525,000 70,000 Land 385,000 170,000 215,000 Plant and equipment 755,000 690,000 65,000 Accumulated depreciated (199,000) (145,000)…
Prince Corporation's accounts provided the following information at December 31, 2019: Total income since incorporation $840,000 Total cash dividends paid 260,000 Total value of stock dividends distributed 60,000 Additional paid-in capital from treasury stock 140,000 What should be the current balance of retained earnings? a.$670,000 b.$580,000 c.$610,000 d.$520,000
rr
Net Income and Comprehensive Income At the beginning of 2019, JR Company's shareholders' equity was as follows: Common stock, $5 par Additional paid-in capital Retained earnings $35,000 49,000 63,000 During 2019, the following events and transactions occurred: 1. JR recognized sales revenues of $108,000. It incurred cost of goods sold of $62,000 and operating expenses of $12,000. 2. JR issued 1,000 shares of its $5 par common stock for $14 per share. 3. JR invested $30,000 in available-for-sale securities. At the end of the year, the securities had a fair value of $35,000. 4. JR paid dividends of $6,000. The income tax rate on all items of income is 30%. Required: 1. Prepare a 2019 income statement for JR which includes net income and comprehensive income (ignore earn- ings per share). 2. For 2016 prepare a separate (a) income statement (ignore earnings per share) and (b) statement of compre- hensive income.
Question: Akers Company invests its excess cash in marketable securities. At the beginning of 2019, it had the following portfolio of investments in trading debt securities: SecurityPar ValueAmortized Cost12/31/18 Fair ValueIvan Company 5% bonds, maturing on Dec. 31, 2028$10,000$8,400$9,400Taylor Company 6% bonds, maturing on Dec. 31, 2023$40,000$43,200$41,800Totals$51,600$51,200During 2019, the following transactions occurred: Mar. 31Purchased Hill Company 8% bonds with a face value of $20,000 for $20,000 plus accrued interest; interest is payable on the bonds each June 30 and December 31.Mar. 31Sold the Taylor Company investment for $42,000 plus accrued interest. The Taylor bonds pay interest on December 31 of each year.June 30Received the semiannual interest on the Hill Company bonds.Dec. 31Received the annual interest on the Ivan Company bonds and the semiannual interest on the Hill Company bonds.The December 31 closing market prices were as follows: Ivan Company bonds, $9,000;…
Crane Company provided the following information on selected transactions during 2021: Purchase of land by issuing bonds Proceeds from issuing bonds Purchases of inventory Purchases of treasury stock Loans made to affiliated corporations Dividends paid to preferred stockholders Proceeds from issuing preferred stock Proceeds from sale of equipment $1100000 $4113000. $3625000. O $3222000. O $4422000. 3040000 3710000 602000 1480000 403000 1590000 301000 The net cash provided by financing activities during 2021 is