Retained earnings, December 31, 2021 Cost of buildings purchased during 2022 Net loss for the year ended December 31, 2022 Dividends declared and paid in 2022 Increase in cash balance from January 1, 2022 to December 31, 2022 Increase in long-term debt in 2022 $ 313,100 49,000 4,550 18,000 14,100 17,800 Required: From the above data, calculate the retained earnings balance as of December 31, 2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2022

Retained earnings, December 31, 2021 Cost of buildings purchased during 2022 Net loss for the year ended December 31, 2022 Dividends declared and paid in 2022 Increase in cash balance from January 1, 2022 to December 31, 2022 Increase in long-term debt in 2022 $ 313,100 49,000 4,550 18,000 14,100 17,800 Required: From the above data, calculate the retained earnings balance as of December 31, 2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2022

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 15P: Investments in Equity Securities Manson Incorporated reported investments in equity securities of...

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COMPARATIVE BALANCE SHEET S OF DECEMBER 31,2020 AND 2019 $1,800 1,750 1,600 $1,150 1,300 1,000 1,700 (1,170) 1,420 Cash Recetvables Inventory Plant assets (1,200 ) 1,300 $7,150 Accumulated depreclatlon Long-term Investments (held-to-maturity) $6,300 Accounts payable Accrued llabilitles 200 250 Bonds payable 1,400 1,550 Common stock 1,700 Retained eamings 2,450 $7,150 $6,300 PAT METHENY COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 $5,900 4,200 sales revEnue Pjos spoo6 jo j50 Selling and administrative expenses Income fron operations 930 1,270 Other revenues and gains Gain on sale of Investrments Income befare tax 1,350 Income tax expense 540 Net incoE Cash dy deds 266 Income retained In business Add tional information:
Investments in Equity Securities Manson Incorporated reported investments in equity securities of 60,495 as a current asset on its December 31, 2018, balance sheet. An analysis of Mansons investments on December 31, 2018, reveals the following: During 2019, the following transactions related to Mansons investments occurred: Required: 1. Assuming Manson prepares quarterly financial statements, prepare journal entries to record the preceding information. 2. Show the items of income or loss from investment transactions that Manson reports for each quarter of 2019. 3. Show how Mansons investments are reported on the balance sheet on March 31, 2019; June 30, 2019; September 30, 2019; and December 31, 2019.
Retained earnings, December 31, 2021 Cost of buildings purchased during 2022 Net loss for the year ended December 31, 2022 Dividends declared and paid in 2022 Increase in cash balance from January 1, 2022 to December 31, 2022 Increase in long-term debt in 2022 $ 313, 200 46,000 4,050 13, 600 10, 900 15, 600 Required: From the above data, calculate the retained earnings balance as of December 31, 2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2022
Problem 3-3 (Algo) Balance sheet preparation [LO3-2, 3-3] The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Cash Investment in equity securities Accounts receivable. Inventory Prepaid insurance (for the next 9 months) Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patent (net) Accounts payable Notes payable Interest payable Bonds Payable Common stock Retained earnings Totals $ Debits 65,000 130,000 70,000 210,000 8,000 110,000 430,000 120,000 20,000 Credits $ 110,000 70,000 95,000 160,000 30,000 250,000 330,000 118,000 $1,163,000 $1,163,000 Additional information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $40,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year. 2. The land account includes land which cost $35,000 that the company has…
HARTFORD INCORPORATED Comparative Balance Sheets At December 31, 2023 and 2022 \table[[, 2023, 2022], [Assets:], [Current assets:], [Cash,,, $, 105, 600], [Accounts receivable,,,,87,600], [ Inventory,,67,200,,], [Total current assets], [Land,,,, 48,000], [Buildings and equipment,,312,000,,], [Less: Accumulated depreciation....(147,600) Following is a statement of cash flows (indirect method) for Hartford Incorporated for the year ended December 31, 2023. Also shown is a partially completed comparative balance sheet as of December 31, 2023 and 2022: HARTFORD INCORPORATED Statement of Cash Flows For the year Ended December 31, 2023 Cash Flows from Operating Activities: Net income $ 10,800 Add (deduct) items not affecting cash: Depreciation expense 54,000 Decrease in accounts receivable 27,600 Increase in Inventory (8,400) Increase in notes payable 14,400 Decrease in accounts payable (7,200) Net cash provided by operating activities $91,200 Cash Flows from Investing Activities: Purchase…
S Find online the annual 10 - K report for Costco Wholesale Corporation (COST) for September 28, 2023 f. Did the company have any contingent liabilities at the balance sheet date? Discuss the specific nature of these contingencies and how (or whether) they are expected to affect the firm's financial health h ASSEN s Ope TOTAL ASSETS CURRENT LIABILITIES LABILITIES AND EQUITY A Der Cap OTT L se org TOTAL LIATES COMMITMENTS AND CONTINGENCIES COUNTY 10 suhted this Consescanda Talk sil TOTAL LIABUTES AND EQUITY 2/12 3/18 2241 17667 Sa 24741 2/14 4 04.15 17482 s 52.545 2321 7301 топ 2337 2174 1.589 22 5611 TRE 3377 242 2482 2555 2.558 BUX 4351 = - 2 7.340 084 138931 21842 25194 21547 94111
Use the following data to determine the total dollar amount of assets to be classified as current assets Bramble Corp. Balance Sheet December 31, 2022 Cash $129000 Accounts payable $158500 Salaries and wages Accounts receivable 121300 33200 payable Inventory 207000 Note payable (due 2025) 268000 Short-term investments 85400 Total liabilities $459700 Land (held for future use) 255500 Land 282000 Buildings Common stock Less: Accumulated depreciation 271400 Retained earnings Franchise 203600 Total stockholders equity. Total liabilities and stockholders Total assets $1555200 equity O $335700 Ⓒ$798200 Ⓒ51001800 O $542700 $335000 (63600) $355000 740500 $1095500 $1555200
ASSETS Cash Accounts Receivable Inventory Plant and equipment Accumulated Depreciation TOTAL ASSETS LIABILITIES Accounts Payable Accrued Expenses Long Term Notes Payable TOTAL LIABILITIES EQUITIES Common Stock, No Par Retained Earnings TOTAL EQUITIES TOTAL LIABILITIES & EQUITIES COMPUTE THE 1. Current Ratio for 2020 & 2021 2. Quick Ratio for 2020 & 2021 2021 45,000.00 212,500.00 155,000.00 1,885,000.00 (480,000.00) 1,817,500.00 55,000.00 112,500.00 250,000.00 417,500.00 1,000,000.00 400,000.00 1,400,000.00 1,817,500.00 2020 50,000.00 207,500.00 140,000.00 1,662,500.00 (375,000.00) 1,685,000.00 47,500.00 110,000.00 237,500.00 395,000.00 1,000,000.00 290,000.00 1,290,000.00 1,685,000.00
Refer to the data below. $ 349,500 Retained earnings, December 31, 2019 Cost of buildings purchased during 2020 Net income for the year ended December 31, 2020 Dividends declared and paid in 2020 42,300 55,800 32,200 23,200 44,300 Increase in cash balance from January 1, 2020, to December 31, 2020 Increase in long-term debt in 2020 Required: From the above data, calculate the Retained Earnings balance as of December 31, 2020: Retained earnings $ 371,300
CRUZ, INCORPORATED Comparative Balance Sheets 2021 At December 31 Assets 2020 Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $ 75,900 32,600 68, 300 4,200 181,000 $ 18,900 40,100 75,300 3,500 137,800 Furniture Accumulated depreciation-Purniture ৪4, 600 (13,100) $ 252,500 99, 200 (7,500) $ 229,500 Total asseta Liabilities and Equity Accounts payable Wages payable Incone taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Comnon stock, $5 par value Retained earnings $ 11,900 7,100 1,200 20,200 24,800 45,000 $ 16,900 4,000 2,200 23,100 58,400 81,500 177,300 30,200 $ 252,500 141,500 6,500 $ 229,500 Total liabilities and equity CRUZ, INCORPORATED Incone Statement For Year Ended Decenber 31, 2021 Sales $ 392,900 252,900 140,000 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Incone before taxes Incone taxes expense 71,600 30, 200 36, 200 13,900 $ 24,300 Net income