Rogerson Company's comparative balance sheet as of December 31, 20-2 and 20-1, showed the following with regard to investing and financing activities:20-220-1Building$130,000$0Equipment90,000Notes payable30,00020,000Common stock at par300,000250,000Paid-in capital in excess of par80,00050,000Retained earnings260,000200,000Net income for 20-2 was $90,000, and cash dividends of $30,000 were declared and paid. Rogerson did not sell any buildings or equipment and did not retire any debt.Required:Determine the amount of cash received and paid for financing and investing activities and the cash flows as they would appear on Rogerson's statement of cash flows for the year ended December 31, 20-2.Rogerson CompanyStatement of Cash Flows (Partial)For the Year Ended December 31, 20-2Cash flows from investing activities:Purchased building v$4Purchased equipment vTotal cash used by investing activitiesCash flows from financing activities:Issued notes payable v10,000Issued common stock v80,000Paid cash dividends vNet cash provided by financing activities

Cash flows From investing activity Purchase Building (0-130,000) -130,000 Purchase…

Answered: son Company's comparative balance sheet…

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Accounting

son Company's comparative balance sheet as of December 20-2 20-1 ng ment $130,000 $0 90,000 payable 30,000 20,000

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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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

Rogerson Company's comparative balance sheet as of December 31, 20-2 and 20-1, showed the following with regard to investing and financing activities:
20-2
20-1
Building
$130,000
$0
Equipment
90,000
Notes payable
30,000
20,000
Common stock at par
300,000
250,000
Paid-in capital in excess of par
80,000
50,000
Retained earnings
260,000
200,000
Net income for 20-2 was $90,000, and cash dividends of $30,000 were declared and paid. Rogerson did not sell any buildings or equipment and did not retire any debt.
Required:
Determine the amount of cash received and paid for financing and investing activities and the cash flows as they would appear on Rogerson's statement of cash flows for the year ended December 31, 20-2.
Rogerson Company
Statement of Cash Flows (Partial)
For the Year Ended December 31, 20-2
Cash flows from investing activities:
Purchased building v
$4
Purchased equipment v
Total cash used by investing activities
Cash flows from financing activities:
Issued notes payable v
10,000
Issued common stock v
80,000
Paid cash dividends v
Net cash provided by financing activities

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