The balance sheet data of Headland Company at the end of 2025 and 2024 follow.20252024Cash$30,300$34,800Accounts receivable (net)55,30045,000Inventory64,80045,300Prepaid expenses15,10024,900Equipment89,10074,800Accumulated depreciation-equipment(17,820)(8,000)Land69,30040,000$306,080 $256,800Accounts payable$65,700$51,600Accrued expenses15,20018,100Notes payable-bank, long-term-0-23,100Bonds payable29,700-0-Common stock, $10 par187,700158,400Retained earnings7,7805,600$306,080$256,800Land was acquired for $29,300 in exchange for common stock, par $29,300, during the year; all equipment purchased was for cash.Equipment costing $13,000 was sold for $3,000; book value of the equipment was $5,900. Cash dividends of $10,100 were declaredand 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.Net Cashby operating activities. $b.Net Cashby investing activities. $C.Net Cash✓ by financing activities.$

Name: The balance sheet data of Headland Company at the end of 2025 and 202
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Description: The balance sheet data of Headland Company at the end of 2025 and 2024 follow.20252024Cash$30,300$34,800Accounts receivable (net)55,30045,000Inventory64,80045,300Prepaid expenses15,10024,900Equipment89,10074,800Accumulated depreciation-equipment(17,

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The balance sheet data of Headland Company at the end of 2025 and 2024 follow. 2025 2024 Cash $30,300 $34,800 Accounts receivable (net) 55,300 45,000 Inventory 64,800 45,300 Prepaid expenses 15,100 24,900 Equipment 89,100 74,800 Accumulated depreciation-equipment (17,820) (8,000) Land 69,300 40,000 Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable $306,080 $256,800 $65,700 $51,600 15,200 18,100 -0- 23,100 29,700 -0- 107700 150 400

The balance sheet data of Headland Company at the end of 2025 and 2024 follow. 2025 2024 Cash $30,300 $34,800 Accounts receivable (net) 55,300 45,000 Inventory 64,800 45,300 Prepaid expenses 15,100 24,900 Equipment 89,100 74,800 Accumulated depreciation-equipment (17,820) (8,000) Land 69,300 40,000 Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable $306,080 $256,800 $65,700 $51,600 15,200 18,100 -0- 23,100 29,700 -0- 107700 150 400

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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