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…

Business

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

See similar textbooks

Similar questions

Exercise 12: Marcus corp earned P645,000 during the year ended June 30, 2021. It paid dividends amounting to P310,000 and the balance went into retained earnings. Total earnings at the end of the year 2021 = P925,280 Find the company's retained earnings on its balance sheet on July 1,2020
Lloyd Company reprted net income of $25000 for 20-2. The December 31 balances of the current assets and current liabilities are shown below Accounts receivable $4,600 $3000 Merchandise Inventory 25000 30000 Accounts payable 16000 18000 wages payable 8000 12000
QUESTION 2 Presented below are the comparative December 31 financial statements for Dubai Industries, Inc. (in S Milions). Prepare a statement of cash flores for December 31, Year 2 using the indirect method. Dubai tnduitries, Ine Balance Sheets A December 31, Vear 2 and Year 1 Year 1 $28.094 Year2 Cash $96.719 Accounts Recelvable 100.000 85,313 Inventory 206.250 181,250 Prepaid insurance Land, Buildings, and 18TS 2,500 Equipment Accumulated 1.362.500 1,406.250 Depreciation (762.500) (715.000) Investments 19375 106250 1.224 219 31.05 24 Total Assets Accounts Payable 195.425 Salartes Payable 25,000 30,625
6
Problem 19-4 Per-Share Ratios (LO3, CFA6) You are given the following information for Smashville, Inc. Cost of goods sold: $249,000 Investment income: $2,900 Net sales: $394,000 Operating expense: $92,000 Interest expense: $7,400 Dividends: $13,000 Tax rate: 21 % Current liabilities: $22,000 Cash: $21,000 Long-term debt: $9,000 Other assets: $37,000 Fixed assets: $139,000 Other liabilities: $5,000 Investments: $13,000 Operating assets: $49,000 During the year, Smashville, Inc., had 17,000 shares of stock outstanding and depreciation expense of $15,000. Calculate the book value per share, earnings per share, and cash flow per share. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
How do accounting theories, such as agency theory and stakeholder theory, inform accounting practices and policies?
Dana Point Company Balance Sheet % Change Yr 2 Balance Sheet Common Size Yr 2 Yr 1 Balance Sheet Cash $7,000 $30,000 AR $67,500 $60,000 Inventory $49,000 $22,500 PPE $6,000 $4,500 Total Current Assets $129,500 $117,000 Building $187,500 $190,000 Total Assets $317,000 $307,000 Yr 2 Yr 1 Accounts Payable $65,500 $63,000 Wages Payable $37,000 $47,500 Total Current Liabilities $102,500 $110,500 Bank Loan Payable $83,000 $85,000 Total Liabilities $185,500 $195,500 Common Stock $75,000 $75,000 Retained Earnings $56,500 $36,500 Total Liab and SE $317,000 $307,000
Revenues: Zillinga Pte Ltd Income Statement Year Ended December 31, 2021 Sales revenue Dividend revenue 8,000 239,000 Cost of goods sold 102,000 Salary expense 48,000 Depreciation expense 28,000 13,000 Advertising expense Income tax expense Interest expense 11,000 3,000 205,000 Net income 34,000 Additional data follow: a. Collections from customers are $15,500 more than sales. b. Dividend revenue, interest expense, and income tax expense equal their cash amounts. c. Payments to suppliers are the sum of cost of goods sold plus advertising expense. d. Payments to employees are $1,000 more than salaries expense. e. Cash payment for the acquisition of plant assets is $102,000. f. Cash receipts from sale of land total $24,000. g. Cash receipts from issuance of common stock total $32,000. h. Payment of long-term notes payable is $17,000. i. Payment of dividends is $10,500. j. Cash balance at 31 December, 2020, was $25,000; at 31 December, 2021, it was $28,000. Required: a) Prepare Zillinga's…
Please help solving Example P20-7 from Chapter 20 in the Financial Reporting and Analysis 8th Edition Presented next are the balance sheet accounts of Bergen Corporation as of December 31, 20X1 and 20X0. 20X1 20X0 Increase (Decrease) Assets Current assets: Cash $ 541,000 $ 308,000 $ 233,000 Accounts receivable, net 585,000 495,000 90,000 Inventories 895,000 780,000 115,000 Total current assets 2,021,000 1,583,000 438,000 Land 350,000 250,000 100,000 Plant and equipment 1,060,000 720,000 340,000 Accumulated depreciation (295,000 ) (170,000 ) (125,000 ) Leased equipment under capital lease 158,000 -0- 158,000 Marketable investment securities, at cost -0- 75,000 (75,000 ) Investment in Mason, Inc., at cost 180,000 180,000 -0- Total assets $ 3,474,000 $ 2,638,000…
26 ces Required information [The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory. Prepaid expenses Plant assets, net Total assets Current Year $ 30,401 92,653 113,068 9,790 285,290 $ 531,208 1 Year Ago $ 37,001 66,035 85,566 9,809 259,527 $457,938 $ 133,593 97,870 162,500 137,245 $ 531,200 Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity For both the current year and one year ago, compute the following ratios: 2 Years Ago $ 37,413 48,906 53,137 3,994 227,050 $370,500 $ 76,618 104,272 163,500 113,548 $ 457,938 $ 49,884 81,062 161,500 76,054 $ 370,500 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable?…
Date Accounts Debit Credit Cash 145,000 a. Accounts Receivable 145,000 b. Selling and Administrative Expenses 32,000 Cash 32,000 Accounts Payable 39,000 C. Cash 39,000 d. Raw Materials Inventory 28,200 Accounts Payable 28,200 Work-in-Process Inventory Manufacturing Overhead 8,850 e. 1,200 Raw Materials Inventory 10,050 Work-in-Process Inventory Manufacturing Overhead f. 20,600 18,400 Wages Payable 39,000 Wages Payable 38,700 g. Cash 38,700 h. Manufacturing Overhead 2,500 Accumulated Depreciation 2,500 Work-in-Process Inventory 16,480 i. Manufacturing Overhead 16,480 j. Finished Goods Inventory 47,430 Work-in-Process Inventory 47,430 k. Accounts Receivable 104,000 Sales Revenue 104,000 k. Cost of Goods Sold 47,430 Finished Goods Inventory 47,430 L. Cost of Goods Sold 5,620 Manufacturing Overhead 5,620