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Cash Flows from Operating Activities Net Income 16880 Adjustments to reconcile net income to Net Decrease in Cash Loss on Disposal of Plant Assets -58800 Increase in Inventory -9800 Increase in Prepaid Expenses -3500 Increase in Accounts Payable 44000 Decrease in Accounts Payable -700 Loss on Disposal of Plant Assets 7500 Depreciation Expense 34900 Cash Flows from Operating Activities 182400 Cash Flows from Investing Activities Purchase of Investments -26100 Purchase of Plant Assets -80600 Sale of Plant Assets 2600 | Cash Flows from Investing Activities -104100 Cash Flows from Financing Activities Issuance of Common Stock 43900 Redemption of Bonds -32400 Payment of Cash Dividends -30000 Net Cash Provided by Financing Activities : -18500 Cash at Beginning of Period 59800 Cash at End of Period 47800 Cash at End of Period 107600

Cash Flows from Operating Activities Net Income 16880 Adjustments to reconcile net income to Net Decrease in Cash Loss on Disposal of Plant Assets -58800 Increase in Inventory -9800 Increase in Prepaid Expenses -3500 Increase in Accounts Payable 44000 Decrease in Accounts Payable -700 Loss on Disposal of Plant Assets 7500 Depreciation Expense 34900 Cash Flows from Operating Activities 182400 Cash Flows from Investing Activities Purchase of Investments -26100 Purchase of Plant Assets -80600 Sale of Plant Assets 2600 | Cash Flows from Investing Activities -104100 Cash Flows from Financing Activities Issuance of Common Stock 43900 Redemption of Bonds -32400 Payment of Cash Dividends -30000 Net Cash Provided by Financing Activities : -18500 Cash at Beginning of Period 59800 Cash at End of Period 47800 Cash at End of Period 107600

FINANCIAL ACCOUNTING
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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Condensed financial data of Concord Inc. follow. CONCORD INC. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 107,600 $ 47,800 Accounts receivable 91,900 33,100 Inventory 111,900 102,100 Prepaid expenses 29,400 25,900 Long-term investments 139,800 113,700 Plant assets 274,100 241,800 Accumulated depreciation ( 47,700) ( 51,000) Total $ 707,000 $ 513,400 Liabilities and Stockholders' Equity Accounts payable $ 111,400 $ 67,400 Accrued expenses payable 16,500 17,200 Bonds payable 117,100 149,500 Common stock 219,000 175,100 Retained earnings 243,000 104,200 Total $ 707,000 $ 513,400
Transcribed Image Text:Condensed financial data of Concord Inc. follow. CONCORD INC. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 107,600 $ 47,800 Accounts receivable 91,900 33,100 Inventory 111,900 102,100 Prepaid expenses 29,400 25,900 Long-term investments 139,800 113,700 Plant assets 274,100 241,800 Accumulated depreciation ( 47,700) ( 51,000) Total $ 707,000 $ 513,400 Liabilities and Stockholders' Equity Accounts payable $ 111,400 $ 67,400 Accrued expenses payable 16,500 17,200 Bonds payable 117,100 149,500 Common stock 219,000 175,100 Retained earnings 243,000 104,200 Total $ 707,000 $ 513,400
Cash Flows from Operating Activities Net Income 16880 Adjustments to reconcile net income to Net Decrease in Cash Loss on Disposal of Plant Assets -58800 Increase in Inventory -9800 Increase in Prepaid Expenses -3500 Increase in Accounts Payable 44000 Decrease in Accounts Payable -700 Loss on Disposal of Plant Assets 7500 Depreciation Expense 34900 Cash Flows from Operating Activities 182400 Cash Flows from Investing Activities Purchase of Investments -26100 Purchase of Plant Assets -80600 Sale of Plant Assets 2600 Cash Flows from Investing Activities -104100 Cash Flows from Financing Activities Issuance of Common Stock 43900 Redemption of Bonds -32400 Payment of Cash Dividends -30000 Net Cash Provided by Financing Activities -18500 Cash at Beginning of Period 59800 Cash at End of Period 47800 Cash at End of Period 107600
Transcribed Image Text:Cash Flows from Operating Activities Net Income 16880 Adjustments to reconcile net income to Net Decrease in Cash Loss on Disposal of Plant Assets -58800 Increase in Inventory -9800 Increase in Prepaid Expenses -3500 Increase in Accounts Payable 44000 Decrease in Accounts Payable -700 Loss on Disposal of Plant Assets 7500 Depreciation Expense 34900 Cash Flows from Operating Activities 182400 Cash Flows from Investing Activities Purchase of Investments -26100 Purchase of Plant Assets -80600 Sale of Plant Assets 2600 Cash Flows from Investing Activities -104100 Cash Flows from Financing Activities Issuance of Common Stock 43900 Redemption of Bonds -32400 Payment of Cash Dividends -30000 Net Cash Provided by Financing Activities -18500 Cash at Beginning of Period 59800 Cash at End of Period 47800 Cash at End of Period 107600
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