Equipment Accumulated Depreciation 420,000 (180,000) $334,000 555,000 (200,000) $484,000 Total Assets Current Liabilities: Accounts Payable Accrued Expenses Dividends Payable Mortgage Payable (current) Mortgage Payable (long term) Common Stock $15,000 10,000 23,000 20,000 150,000 120,000 $13,000 15,000 26,000 25,000 195,000 140,000 (30,000) 100,000 Treasury Stock Retained Earnings Total Liabilities and Owners' Equity (20,000) 16,000 $334,000 $484,000 Other information: 1. Assume the net income for 20X2 was $140,000.
Equipment Accumulated Depreciation 420,000 (180,000) $334,000 555,000 (200,000) $484,000 Total Assets Current Liabilities: Accounts Payable Accrued Expenses Dividends Payable Mortgage Payable (current) Mortgage Payable (long term) Common Stock $15,000 10,000 23,000 20,000 150,000 120,000 $13,000 15,000 26,000 25,000 195,000 140,000 (30,000) 100,000 Treasury Stock Retained Earnings Total Liabilities and Owners' Equity (20,000) 16,000 $334,000 $484,000 Other information: 1. Assume the net income for 20X2 was $140,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Equipment
Accumulated Depreciation
420,000
555,000
(200,000)
$484,000
1. During 20x
$2,540,000
Total Assets
The Eppl
(180,000)
$334,000
Current Liabilities:
$10,000. D
Accounts Payable
Accrued Expenses
Dividends Payable
Mortgage Payable (current)
Mortgage Payable (long term)
Common Stock
$15,000
10,000
23,000
20,000
150,000
120,000
$13,000
15,000
26,000
$120,000
$15,000
ing 20X
2. During 2
25,000
195,000
140,000
(30,000)
100,000
3. During
invent
Treasury Stock
Retained Earnings
(20,000)
16,000
Total Liabilities and Owners' Equity
$5,000
4. Durin
incre
$334,000
$484,000
Other information:
of lo
rech
1. Assume the net income for 20X2 was $140,000.
2. Assume marketable securities costing $5,000 were sold for $8,000 during 20X2.
rec
3. Assume equipment costing $30,000, with a net book value of $10,000, was sold at a loss
of $5,000 during 20X2.
5. Th
Transcribed Image Text:Frepare the cash from operating activities section of the SCF.
Rey
Problem 3
Unclassified Balance Sheets
Alpha Café
December 31, 20X1 and 20X2
20X1
20X2
Cash
Marketable Securities
Accounts Receivable
$15,000
25,000
24,000
20,000
10,000
$30,000
30,000
26,000
18,000
25,000
Inventory
Prepaid Expenses
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