The balance sheet data of Flounder Company at the end of 2020 and 2019 are shown belo 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 3 (b) (c) Net Cash Net Cash 2020 $29,800 Net Cash 55,100 65,400 15,200 89,200 (17840) 70,700 $307,560 $65,500 15,100 -0- 30,000 188,100 8.860 $307,560 ✓by operating activities ✓by investing activities. 2019 ✓by financing activities $34,800 44,800 45,100 Land was acquired for $30,300 in exchange for common stock, par $30,300, during the year; all equipment purchased was for cash Equipment costing $12.900 was sold for $3.000; book value of the equipment was 56,100 Cash dividends of $10,000 were declare and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a sign es-12.000 or in parenthesis eg (12.00 25,100 74,200 (7,900) 40,400 $256.500 $52,000 18,100 23,100 -0- 157,800 5.500 $256,500

The balance sheet data of Flounder Company at the end of 2020 and 2019 are shown belo 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 3 (b) (c) Net Cash Net Cash 2020 $29,800 Net Cash 55,100 65,400 15,200 89,200 (17840) 70,700 $307,560 $65,500 15,100 -0- 30,000 188,100 8.860 $307,560 ✓by operating activities ✓by investing activities. 2019 ✓by financing activities $34,800 44,800 45,100 Land was acquired for $30,300 in exchange for common stock, par $30,300, during the year; all equipment purchased was for cash Equipment costing $12.900 was sold for $3.000; book value of the equipment was 56,100 Cash dividends of $10,000 were declare and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a sign es-12.000 or in parenthesis eg (12.00 25,100 74,200 (7,900) 40,400 $256.500 $52,000 18,100 23,100 -0- 157,800 5.500 $256,500

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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