Pina Colada Corp.'s comparative balance sheets are presented below.CashAccounts receivableLandBuildingsAccumulated depreciation-buildingsTotalAccounts payableCommon stockRetained earningsTotalPina Colada Corp.Comparative Balance SheetsDecember 31Additional information:1.2.3.2022Free cash flow$ 14,20021,50019,60070,100(15,400)$110,000$ 11,90075,9002021$ 11,00023,50025,80070,100(10,500)$119,900$30,70070,60022,200$110,000 $119,90018,600Net income was $22,500. Dividends declared and paid were $18,900.No noncash investing and financing activities occurred during 2022.The land was sold for cash of $4,900.Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

The cash flow from operating activities include the cash flow from day to day regular activities of…

Pina Colada Corp.'s comparative balance sheets are presented below. Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total Pina Colada Corp. Comparative Balance Sheets December 31 Additional information: 1. 2. 3. 2022 Free cash flow $ $14,200 21,500 19,600 70,100 (15,400) $110,000 $ 11,900 75,900 22,200 $110,000 2021 $11,000 23,500 25,800 70,100 (10,500) $119,900 $30,700 70,600 18,600 $119,900 Net income was $22,500. Dividends declared and paid were $18,900. No noncash investing and financing activities occurred during 2022. The land was sold for cash of $4,900. Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Pina Colada Corp.'s comparative balance sheets are presented below. Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total Pina Colada Corp. Comparative Balance Sheets December 31 Additional information: 1. 2. 3. 2022 Free cash flow $ $14,200 21,500 19,600 70,100 (15,400) $110,000 $ 11,900 75,900 22,200 $110,000 2021 $11,000 23,500 25,800 70,100 (10,500) $119,900 $30,700 70,600 18,600 $119,900 Net income was $22,500. Dividends declared and paid were $18,900. No noncash investing and financing activities occurred during 2022. The land was sold for cash of $4,900. Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

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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Statement of cash flows—indirect method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Line Item Description December 31, 20Y9 December 31, 20Y8 Assets Cash $305,280 $281,690 Accounts receivable (net) 110,590 101,170 Inventories 312,180 299,530 Investments 0 116,050 Land 160,130 0 Equipment 344,450 264,830 Accumulated depreciation—equipment (80,640) (71,410) Total assets $1,151,990 $991,860 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $208,510 $195,400 Accrued expenses payable (operating expenses) 20,740 25,790 Dividends payable 11,520 8,930 Common stock, $10 par 62,210 48,600 Paid-in capital in excess of par—common stock 233,850 134,890 Retained earnings 615,160 578,250 Total liabilities and stockholders' equity $1,151,990 $991,860 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and land…
Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $226,390 $211,080 Accounts receivable (net) 82,010 75,810 Inventories 231,510 224,450 Investments 0 86,960 Land 118,750 0 Equipment 255,440 198,450 Accumulated depreciation—equipment (59,800) (53,510) Total assets $854,300 $743,240 Liabilities and Stockholders' Equity Accounts payable $154,630 $146,420 Accrued expenses payable 15,380 19,320 Dividends payable 8,540 6,690 Common stock, $10 par 46,130 36,420 Paid-in capital: Excess of issue price over par-common stock 173,420 101,080 Retained earnings 456,200 433,310 Total liabilities and stockholders’ equity $854,300 $743,240 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and…
Statement of cash flows—indirect method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Line Item Description December 31, 20Y9 December 31, 20Y8 Assets Cash $230,690 $215,090 Accounts receivable (net) 83,570 77,250 Inventories 235,920 228,730 Investments 0 88,610 Land 121,010 0 Equipment 260,290 202,220 Accumulated depreciation—equipment (60,940) (54,530) Total assets $870,540 $757,370 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $157,570 $149,200 Accrued expenses payable (operating expenses) 15,670 19,690 Dividends payable 8,710 6,820 Common stock, $10 par 47,010 37,110 Paid-in capital in excess of par—common stock 176,720 103,000 Retained earnings 464,860 441,550 Total liabilities and stockholders' equity $870,540 $757,370 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and land were…
Statement of cash flows—indirect method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Line Item Description December 31, 20Y9 December 31, 20Y8 Assets Cash $269,900 $253,670 Accounts receivable (net) 97,780 91,110 Inventories 276,000 269,750 Investments 0 104,510 Land 141,570 0 Equipment 304,530 238,490 Accumulated depreciation—equipment (71,290) (64,310) Total assets $1,018,490 $893,220 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $184,350 $175,960 Accrued expenses payable (operating expenses) 18,330 23,220 Dividends payable 10,180 8,040 Common stock, $10 par 55,000 43,770 Paid-in capital in excess of par—common stock 206,750 121,480 Retained earnings 543,880 520,750 Total liabilities and stockholders' equity $1,018,490 $893,220 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and land…
eBook Show Me How Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $290,780 $268,930 Accounts receivable (net) 105,340 96,590 Inventories 297,360 285,980 Investments 0 110,790 Land 152,520 0 Equipment 328,080 252,830 Accumulated depreciation—equipment (76,810) (68,180) Total assets $1,097,270 $946,940 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $198,610 $186,550 Accrued expenses payable (operating expenses) 19,750 24,620 Dividends payable 10,970 8,520 Common stock, $10 par 59,250 46,400 Paid-in capital in excess of par—common stock 222,750 128,780 Retained earnings 585,940 552,070 Total liabilities and stockholders’ equity $1,097,270 $946,940 Additional data obtained from an examination of the…
Preparing the Statement of Cash Flows Balance sheet information for Beckwith Products Company is presented below. Jan. 1 Dec. 31 Assets: Cash $25,000 $36,950 Accounts receivable 78,000 75,100 Inventory 36,000 45,300 Property, plant, and equipment 153,000 256,400 Accumulated depreciation 20,000 38,650 Total assets $272,000 $375,100 Liabilities and Equity: Accounts payable $11,000 $13,100 Interest payable 8,000 11,500 Wages payable 9,000 8,100 Notes payable 90,000 105,000 Common stock 50,000 100,000 Retained earnings 104,000 137,400 Total liabilities and equity $272,000 $375,100 Additional Information: Net income for the year was $58,400. Cash dividends of $25,000 were declared and paid during the year. During the year, Beckwith issued $50,000 of notes payable and repaid $35,000 principal relating to notes payable. Common stock was issued for $50,000 cash.…
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Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $239,460 $223,010 Accounts receivable (net) 86,750 80,100 Inventories 244,880 237,150 Investments 0 91,870 Land 125,600 0 Equipment 270,190 209,660 Accumulated depreciation—equipment (63,250) (56,540) Total assets $903,630 $785,250 Liabilities and Stockholders' Equity Accounts payable $163,560 $154,690 Accrued expenses payable 16,270 20,420 Dividends payable 9,040 7,070 Common stock, $10 par 48,800 38,480 Paid-in capital: Excess of issue price over par-common stock 183,440 106,790 Retained earnings 482,520 457,800 Total liabilities and stockholders’ equity $903,630 $785,250 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and…
The item listed below belongs on the Statement of Cash Flows. Using formulas and cell links, complete the Statement of Cash Flows. Items for the Statement of Cash Flowws 01/01/21 12/31/21 Increase (Decrease) Davidson Company Statment of Cash Flow For the Year Ended Dec, 31,2021 Cash 42,000 60,000 Accounts Recevable 254,000 314,200 Cash Flows from operation activities Inventory 78,500 117,100 Accounts Payable 164,200 204,800 Net Cash Provided used by operating Activities Short-term notes Payable 65,000 27,200 Cash Flows from investing Activities Net income for 2021 230,200 Purchase of Equipment 84,000 Net Cash Provided used by investing Activities Depreciation Expense 26,600 Payments of Cash Dividends 91,600 Cash Flows from Financing…
Computation.
NOTE: Using INDIRECT Method (Cash Flow)
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