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Accounts receivable Inventory Prepaid expenses Long-term investments Equipment Accumulated depreciation-equipment Total assets $123,000 Liabilities and Stockholders' Equity Accounts payable $ 17,000 36,000 Bonds payable Common stock 40,000 Retained earnings 30,000 Total liabilities and stockholders' equity $123.000 Additional information: 1. Net income for the year ending December 31, 2020 was $35,000. 2. Cash dividends of $15,000 were declared and paid during the year. 3. Long-term investments that had a cost of $17,000 were sold for $14 4. Sales for 2020 were $120,000. Instructions Prepare a statement of cash flows for the year ended December 31. method. - Step 1: 35,000 20,000 18,000 25,000 6,000 -0- 60,000 (20,000)

Accounts receivable Inventory Prepaid expenses Long-term investments Equipment Accumulated depreciation-equipment Total assets $123,000 Liabilities and Stockholders' Equity Accounts payable $ 17,000 36,000 Bonds payable Common stock 40,000 Retained earnings 30,000 Total liabilities and stockholders' equity $123.000 Additional information: 1. Net income for the year ending December 31, 2020 was $35,000. 2. Cash dividends of $15,000 were declared and paid during the year. 3. Long-term investments that had a cost of $17,000 were sold for $14 4. Sales for 2020 were $120,000. Instructions Prepare a statement of cash flows for the year ended December 31. method. - Step 1: 35,000 20,000 18,000 25,000 6,000 -0- 60,000 (20,000)

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.6E
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Accounts receivable 18,000 13,000 Inventory 25,000 17,000 Prepaid expenses 6,000 9,000 Long-term investments -0- 17,000 Equipment 60,000 33,000 Accumulated depreciation-equipment Total assets (20,000) (15,000) $123,000 $85,000 Liabilities and Stockholders' Equity Accounts payable $ 17,000 $ 7,000 36,000 45,000 Bonds payable Common stock 40,000 23,000 Retained earnings 30,000 10,000 Total liabilities and stockholders' equity $123,000 $85,000 Additional information: 1. Net income for the year ending December 31, 2020 was $35,000. 2. Cash dividends of $15,000 were declared and paid during the year. 3. Long-term investments that had a cost of $17,000 were sold for $14,000. 4. Sales for 2020 were $120,000. Instructions Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. Step 1: 35,000 + 20,000
Transcribed Image Text:Accounts receivable 18,000 13,000 Inventory 25,000 17,000 Prepaid expenses 6,000 9,000 Long-term investments -0- 17,000 Equipment 60,000 33,000 Accumulated depreciation-equipment Total assets (20,000) (15,000) $123,000 $85,000 Liabilities and Stockholders' Equity Accounts payable $ 17,000 $ 7,000 36,000 45,000 Bonds payable Common stock 40,000 23,000 Retained earnings 30,000 10,000 Total liabilities and stockholders' equity $123,000 $85,000 Additional information: 1. Net income for the year ending December 31, 2020 was $35,000. 2. Cash dividends of $15,000 were declared and paid during the year. 3. Long-term investments that had a cost of $17,000 were sold for $14,000. 4. Sales for 2020 were $120,000. Instructions Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. Step 1: 35,000 + 20,000
Ex. 178.50 puntos. A comparative balance sheet for Rocker Company appears below: ROCKER COMPANY Comparative Balance Sheet 26 Dec. 31, 2020 Assets Cash ballons $ 34,000 Dec. 31, 2019 $11,000
Transcribed Image Text:Ex. 178.50 puntos. A comparative balance sheet for Rocker Company appears below: ROCKER COMPANY Comparative Balance Sheet 26 Dec. 31, 2020 Assets Cash ballons $ 34,000 Dec. 31, 2019 $11,000
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