Consider the following balance sheets and income statement for Cruyff Enterprises, and compute the cash that Cruyff received from stock issuances. Cruyff Enterprises Balance Sheets As of December 31, 2020 and 2019 2020 2019 Assets: Cash $18,650 $ 14,900 Accounts Receivable 42,000 36,000 Inventory 60,500 50,000 Prepaid Rent 3,000 1,400 Property, Plant and Equipment 230,000 205,600 Less: Accumulated Depreciation (75,000) (65,000) Total Assets $279,150 $242,900 Liabilities and Stockholders’ Equity: Accounts Payable $26,500 $21,000 Interest Payable 650 400 Unearned Revenue 7,000 10,000 Bonds Payable 37,000 37,000 Common Stock 20,000 15,000 Additional Paid-In Capital 48,000 40,000 Retained Earnings 140,000 119,500 Total Liabilities and Stockholders’ Equity: $279,150 $242,900 Cruyff Enterprises Income Statement For the year ended December 31, 2020. Sales Revenue $ 470,000 Cost of Goods Sold 315,000 Wage Expense 71,000 Rent Expense xx,xxx Depreciation Expense 15,000 Interest Expense 19,000 Net Income yy,yyy
Consider the following
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Cruyff Enterprises Balance Sheets As of December 31, 2020 and 2019 |
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2020 |
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2019 |
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Assets: |
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|
|
Cash |
$18,650 |
|
$ 14,900 |
|
|
42,000 |
|
36,000 |
|
Inventory |
60,500 |
|
50,000 |
|
Prepaid Rent |
3,000 |
|
1,400 |
|
Property, Plant and Equipment |
230,000 |
|
205,600 |
|
Less: |
(75,000) |
|
(65,000) |
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Total Assets |
$279,150 |
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$242,900 |
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Liabilities and |
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|
|
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Accounts Payable |
$26,500 |
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$21,000 |
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Interest Payable |
650 |
|
400 |
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Unearned Revenue |
7,000 |
|
10,000 |
|
Bonds Payable |
37,000 |
|
37,000 |
|
Common Stock |
20,000 |
|
15,000 |
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Additional Paid-In Capital |
48,000 |
|
40,000 |
|
|
140,000 |
|
119,500 |
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Total Liabilities and Stockholders’ Equity: |
$279,150 |
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$242,900 |
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Cruyff Enterprises Income Statement For the year ended December 31, 2020. |
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Sales Revenue |
$ 470,000 |
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|
|
|
Cost of Goods Sold |
315,000 |
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Wage Expense |
71,000 |
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Rent Expense |
xx,xxx |
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Depreciation Expense |
15,000 |
|
Interest Expense |
19,000 |
|
Net Income |
yy,yyy |
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