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The balance sheet data of Blossom Company at the end of 2025 and 2024 follo Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses 2025 $30,100 55,000 64,600 15,000 90,200 (18,040) 70,200 2024 $35,100 14,800 44,900 45,100 24,700 74,500 (8,000) 39,800 $307,060 $256,100 $64,600 $52,500 14900

The balance sheet data of Blossom Company at the end of 2025 and 2024 follo Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses 2025 $30,100 55,000 64,600 15,000 90,200 (18,040) 70,200 2024 $35,100 14,800 44,900 45,100 24,700 74,500 (8,000) 39,800 $307,060 $256,100 $64,600 $52,500 14900

FINANCIAL ACCOUNTING
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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The balance sheet data of Blossom Company at the end of 2025 and 2024 follow. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings 2025 $30,100 55,000 64,600 15,000 90,200 (18,040) 70,200 30,300 2024 190,400 $35,100 44,900 45,100 $307,060 $256,100 6,960 24,700 74,500 (8,000) $64,600 $52,500 14,800 14900 -0- 39,800 22,900 -0- 160,000 2,800 $307,060 $256,100
Transcribed Image Text:The balance sheet data of Blossom Company at the end of 2025 and 2024 follow. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings 2025 $30,100 55,000 64,600 15,000 90,200 (18,040) 70,200 30,300 2024 190,400 $35,100 44,900 45,100 $307,060 $256,100 6,960 24,700 74,500 (8,000) $64,600 $52,500 14,800 14900 -0- 39,800 22,900 -0- 160,000 2,800 $307,060 $256,100
Land was acquired for $30,400 in exchange for common stock, par $30,400, during the year; all equipment purchased was for cash. Equipment costing $13,200 was sold for $3,100; book value of the equipment was $6,100. Cash dividends of $10,100 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign e.g.-12,000 or in parenthesis e.g. (12,000).) a. b. C. Net Cash Net Cash Net Cash provided by operating activities. $ by investing activities. $ by financing activities. $ 8840
Transcribed Image Text:Land was acquired for $30,400 in exchange for common stock, par $30,400, during the year; all equipment purchased was for cash. Equipment costing $13,200 was sold for $3,100; book value of the equipment was $6,100. Cash dividends of $10,100 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign e.g.-12,000 or in parenthesis e.g. (12,000).) a. b. C. Net Cash Net Cash Net Cash provided by operating activities. $ by investing activities. $ by financing activities. $ 8840
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