23:23 ® O N •Voll il 22%!LTE1TSaveQuestion 20Worldwide Corp.'s statement of financial position accounts as of December 31, 2019and 2018 and information relating to 2019 activities are presented below.IncorrectMark 0.00 out ofDecember 313.0020192018AssetsCash$440,000$160,000Short-term investments800,000Accounts receivable (net)1,130,0001,230,000Inventory1,210,0001,050,000Long-term investments400,000600,000Plant assets3,100,0002,000,000Accumulated depreciation(700,000)(900,000)Patent280,000300,000Total assets$6,660,000$4.440.000Liabilities and Equity.Accounts payable$1,620,000$1,330,000Other accrued liabilities200,000250,000Notes payable (nontrade)560,000-Common Stock-$10 par1,600,0001,400,000Additional paid-in capital800,000500,000Retained earnings1.880,000960,000Total liabilities and equity$6,660,000$4,440.000Information relating to 2019 activities:• Net income for 2019 was $1,250,000. This amount includes net sales revenue of$4,500,000 and cost of goods sold of $2,100,000.• Equipment casting $1,000,000 and having a carrying amount of $320,000 was soldin 2019 for $360,000.• A long-term investment was sold in 2019 for $345,000. There were no othertransactions affecting long-term investments in 2019.• 20,000 ordinary shares were issued in 2019 for $25 a share.• Short-term investments consist of treasury bills maturing on 9/30/20.Compute net cash provided by operating activities.A) $1,745,000B) $3,470,000C) $1,450,000D) $2,595,000Select one:16/ 19 >II

Calculation of Cash Flow from Operating Activities. Net Income 1250000 Adjustment for…

Worldwide Corp.'s statement of financial pasitian accounts as of December 31, 2019 and 2018 and information relating to 2019 activities are presented below. December 31. 2019 2018 Assets Cash $440,000 $160,000 Short-term investments 800,000 Accounts receivable (net) 1,130,000 1,230,000 Inventory 1,210,000 1,050,000 Long-term investments 400,000 600,000 Plant assets 3,100,000 2,000,000 Accumulated depreciation (700,000) (900,000) Patent 280.000 300.000 Total assets $6.660.000 $4.440.000 Liabilities and Equity.

Worldwide Corp.'s statement of financial pasitian accounts as of December 31, 2019 and 2018 and information relating to 2019 activities are presented below. December 31. 2019 2018 Assets Cash $440,000 $160,000 Short-term investments 800,000 Accounts receivable (net) 1,130,000 1,230,000 Inventory 1,210,000 1,050,000 Long-term investments 400,000 600,000 Plant assets 3,100,000 2,000,000 Accumulated depreciation (700,000) (900,000) Patent 280.000 300.000 Total assets $6.660.000 $4.440.000 Liabilities and Equity.

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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