Current Attempt in Progress Sage Corporation's balance sheet at the end of 2024 included the following items. Current assets (Cash $82,000) Land Buildings Equipment Accum. depr.-buildings Accum. depr.-equipment Patents 1. 2. 3. 4. 5. 6. 7. 8. The following information is available for 2025. 9. 10. (a) Total $236,040 31,040 121,040 91,040 (31,040) (11,000) 41,040 $478,160 Current liabilities Bonds payable Common stock Retained earnings Total $151,040 101,040 181,040 45,040 $478,160 Net income was $55,040. Equipment (cost $21,040 and accumulated depreciation $9,040) was sold for $11,040. Depreciation expense was $5,040 on the building and $10,040 on equipment. Patent amortization was $2,500. Current assets other than cash increased by $29,000. Current liabilities increased by $14,040. An addition to the building was completed at a cost of $28,040. A long-term investment in stock was purchased for $16,000. Bonds payable of $51,040 were issued. Cash dividends of $30,000 were declared and paid. Treasury stock was purchased at a cost of $11,000. Prepare a statement of cash flows for 2025. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis 6.g. (15.000))

Current Attempt in Progress Sage Corporation's balance sheet at the end of 2024 included the following items. Current assets (Cash $82,000) Land Buildings Equipment Accum. depr.-buildings Accum. depr.-equipment Patents 1. 2. 3. 4. 5. 6. 7. 8. The following information is available for 2025. 9. 10. (a) Total $236,040 31,040 121,040 91,040 (31,040) (11,000) 41,040 $478,160 Current liabilities Bonds payable Common stock Retained earnings Total $151,040 101,040 181,040 45,040 $478,160 Net income was $55,040. Equipment (cost $21,040 and accumulated depreciation $9,040) was sold for $11,040. Depreciation expense was $5,040 on the building and $10,040 on equipment. Patent amortization was $2,500. Current assets other than cash increased by $29,000. Current liabilities increased by $14,040. An addition to the building was completed at a cost of $28,040. A long-term investment in stock was purchased for $16,000. Bonds payable of $51,040 were issued. Cash dividends of $30,000 were declared and paid. Treasury stock was purchased at a cost of $11,000. Prepare a statement of cash flows for 2025. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis 6.g. (15.000))

Name: answer in text form please (without image) Current Attempt in Progress
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Description: answer in text form please (without image) Current Attempt in ProgressSage Corporation's balance sheet at the end of 2024 included the following items.Current assets (Cash $82,000)LandBuildingsEquipmentAccum. depr.-buildingsAccum. depr.-equipmentPate

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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