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On December 30, Billy's Boat Yard (BBY) had $90,000 of cash, $20,000 of liabilities, $30,000 of common stock, and $40,000 of unrestricted retained earnings. On December 31, BBY appropriated retained earnings in the amount of $18,000 for a future remodeling project. Required a. Record the December 31 appropriation in the following statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. b. Determine the amount of dividends that BBY can pay immediately after the December 31 appropriation. c. Determine the total amount of retained earnings immediately after the December 31 appropriation. d. Determine the total amount of cash immediately after the December 31 appropriation. Complete this question by entering your answers in the tabs below. Req A Reg B to D Record the December 31 appropriation in the following statements model. In the Cash Flow column, indicate whether the item is an operating activity ( financing activity (FA). If an element was not affected by the event, leave the cell blank. (Enter any decreases to account balances with a minus sign.) BBY CO. Horizontal Statements Model Balance Sheet Income Statement Liabilities Stockholders' Equity Statement of Cash Flow Assets Revenue Expense Net Income Common Stock Appropriated Retained Earnings Retained Cash Earnings + + RegA Req B to D >

On December 30, Billy's Boat Yard (BBY) had $90,000 of cash, $20,000 of liabilities, $30,000 of common stock, and $40,000 of unrestricted retained earnings. On December 31, BBY appropriated retained earnings in the amount of $18,000 for a future remodeling project. Required a. Record the December 31 appropriation in the following statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. b. Determine the amount of dividends that BBY can pay immediately after the December 31 appropriation. c. Determine the total amount of retained earnings immediately after the December 31 appropriation. d. Determine the total amount of cash immediately after the December 31 appropriation. Complete this question by entering your answers in the tabs below. Req A Reg B to D Record the December 31 appropriation in the following statements model. In the Cash Flow column, indicate whether the item is an operating activity ( financing activity (FA). If an element was not affected by the event, leave the cell blank. (Enter any decreases to account balances with a minus sign.) BBY CO. Horizontal Statements Model Balance Sheet Income Statement Liabilities Stockholders' Equity Statement of Cash Flow Assets Revenue Expense Net Income Common Stock Appropriated Retained Earnings Retained Cash Earnings + + RegA Req B to D >

Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter6: Statement Of Cash Flows
Section: Chapter Questions
Problem 25E
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On December 30, Billy's Boat Yard (BBY) had $90,000 of cash, $20,000 of liabilities, $30,000 of common stock, and $40,000 of unrestricted retained earnings. On December 31, BBY appropriated retained earnings in the amount of $18,000 for a future remodeling project. Required a. Record the December 31 appropriation in the following statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. b. Determine the amount of dividends that BBY can pay immediately after the December 31 appropriation. c. Determine the total amount of retained earnings immediately after the December 31 appropriation. d. Determine the total amount of cash immediately after the December 31 appropriation. Complete this question by entering your answers in the tabs below. Req A Req B to D Record the December 31 appropriation in the following statements model. In the Cash Flow column, indicate whether the item is an operating activity ( financing activity (FA). If an element was not affected by the event, leave the cell blank. (Enter any decreases to account balances with a minus sign.) ВBY CO, Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Flow Assets Liabilities Stockholders' Equity Revenue Expense = Net Income Common Stock Appropriated Retained Earnings Retained Cash Earnings +. +. Req B to D > Mc Graw Hill < Prev. 20 of 20 Next 一
Transcribed Image Text:On December 30, Billy's Boat Yard (BBY) had $90,000 of cash, $20,000 of liabilities, $30,000 of common stock, and $40,000 of unrestricted retained earnings. On December 31, BBY appropriated retained earnings in the amount of $18,000 for a future remodeling project. Required a. Record the December 31 appropriation in the following statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. b. Determine the amount of dividends that BBY can pay immediately after the December 31 appropriation. c. Determine the total amount of retained earnings immediately after the December 31 appropriation. d. Determine the total amount of cash immediately after the December 31 appropriation. Complete this question by entering your answers in the tabs below. Req A Req B to D Record the December 31 appropriation in the following statements model. In the Cash Flow column, indicate whether the item is an operating activity ( financing activity (FA). If an element was not affected by the event, leave the cell blank. (Enter any decreases to account balances with a minus sign.) ВBY CO, Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Flow Assets Liabilities Stockholders' Equity Revenue Expense = Net Income Common Stock Appropriated Retained Earnings Retained Cash Earnings +. +. Req B to D > Mc Graw Hill < Prev. 20 of 20 Next 一
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