Vaughn Corporation's comparative balance sheets are as follows. Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment Total Accounts payable Bonds payable Common stock Retained earnings Total Additional information: 1. 2. 3. VAUGHN CORPORATION Comparative Balance Sheets December 31 4. 2022 $16,600 25,400 19,850 59,950 (14,150) $107,650 $14,450 10,100 49,900 33,200 $107,650 2021 $17,200 22,400 16,250 69,850 (10,300) $115,400 $11,050 30,000 45,300 29,050 $115,400 Net income was $18,450. Dividends declared and paid were $14,300. Equipment which cost $9,900 and had accumulated depreciation of $1,500 was sold for $3,400. No noncash investing and financing activities occurred during 2022. Bonds were retired at their carrying value.
Vaughn Corporation's comparative balance sheets are as follows. Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment Total Accounts payable Bonds payable Common stock Retained earnings Total Additional information: 1. 2. 3. VAUGHN CORPORATION Comparative Balance Sheets December 31 4. 2022 $16,600 25,400 19,850 59,950 (14,150) $107,650 $14,450 10,100 49,900 33,200 $107,650 2021 $17,200 22,400 16,250 69,850 (10,300) $115,400 $11,050 30,000 45,300 29,050 $115,400 Net income was $18,450. Dividends declared and paid were $14,300. Equipment which cost $9,900 and had accumulated depreciation of $1,500 was sold for $3,400. No noncash investing and financing activities occurred during 2022. Bonds were retired at their carrying value.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Vaughn Corporation's comparative balance sheets are as follows.
Cash
Accounts receivable
Investments
Equipment
Accumulated depreciation-equipment
Total
Accounts payable
Bonds payable
Common stock
Retained earnings
Total
Additional information:
1.
2.
3.
VAUGHN CORPORATION
Comparative Balance Sheets
December 31
4.
2022
$16,600
25,400
19,850
59,950
(14,150)
$107,650
$14,450
10,100
49,900
33,200
$107,650
2021
$17,200
22,400
16,250
69,850
(10,300)
$115,400
$11,050
30,000
45,300
29,050
$115,400
Net income was $18,450. Dividends declared and paid were $14,300.
Equipment which cost $9,900 and had accumulated depreciation of $1,500 was sold for $3,400.
No noncash investing and financing activities occurred during 2022.
Bonds were retired at their carrying value.
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