Question
In: Accounting
12/31/2019 12/31/2018 Change Cash 30,900 10,200 20,700 Accounts Receivable (net) 43,300 20,300 23,000 Inventory 35,000 42,000...
12/31/2019 12/31/2018 Change Cash 30,900 10,200 20,700 Accounts Receivable (net) 43,300 20,300 23,000 Inventory 35,000 42,000 (7,000) Long-Term Investments 0 15,000 (15,000) Property, Plant & Equipment 236,500 150,000 86,500 Accumulated Depreciation (37,700) (25,000) (12,700) 308,000 212,500 Accounts Payable 17,000 26,500 (9,500) Accrued Liabilities 21,000 17,000 4,000 Long-Term Notes Payable 70,000 50,000 20,000 Common stock 130,000 90,000 40,000 Retained earnings 70,000 29,000 41,000 308,000 212,500 Additional transaction data for 2019:
1. Net income for the year, $76,000.
2. Depreciation on plant assets for the year, $12,700.
3. Sold the long-term investments for $28,000 (assume gain or loss is ordinary).
4. Purchased machinery costing $26,500, paid cash.
5. Purchased machinery by issuing a $60,000 long-term note payable.
6. Paid a $40,000 long-term note payable by issuing common stock.
Prepare the 2019 statement of cash flows for Hafner Company
Solutions
Expert Solution
The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.
ekkarill92 answered 2 years agoRelated Solutions
.Statement of Cash Flows. Assets 31/12/2017 31/12/2016 Cash 81000 121500 Accounts receivable, net 79500 119250 Inventory...
.Statement of Cash Flows. Assets 31/12/2017 31/12/2016 Cash
81000 121500 Accounts receivable, net 79500 119250 Inventory 241500
362250 Land 270000 405000 Building 450000 675000 Accumulated
depreciation—building -112500 -168750 Equipment 2347500 3521250
Accumulated depreciation—equipment -265500 -398250 Total of Assets
3091500 4637250 Liabilities & Equity Accounts payable 303000
454500 Bonds payable 675000 1012500 Capital stock, $10 par 1875000
2812500 Retained earnings 238500 357750 Total of Liabilities &
Equity 3091500 4637250 Additional Data: 1. Net income for the year
amounted to $163,500. 2....
2020/12/31 2019/12/31 Current Assets: Cash $6,100 $7,100 Accounts Receivable 61,500 51,000 Inventory 44,800 63,900 Total Current...
2020/12/31 2019/12/31
Current Assets:
Cash $6,100 $7,100
Accounts Receivable 61,500 51,000
Inventory 44,800 63,900
Total Current Assets 112,400 122,000
Property, Plant, and Equipment 155,200 129,900
Less: Accumulated Depreciation (35,200) (24,800)
Land 80,600 67,700
Total Assets $313,000 $294,800
Current Liabilities:
Accounts Payable 45,800 39,800
Wages Payable 12,000 9,900
Long Term Notes Payable 68,100 78,800
Total Liabilities 125,900 128,500
Stockholders' Equity:
Common Stock 130,000 130,000
Retained Earnings 57,100 36,300
Total Stockholders' Equity 187,100 166,300
Total Liabilities & Stockholders' Equity $313,000
$294,800
Sales...
Deedle company began the year with the following account balances: Cash $15,000 Accounts receivable $42,000 Inventory...
Deedle company began the year with the following account
balances:
Cash
$15,000
Accounts receivable
$42,000
Inventory
$33,000
Accounts payable
$24,000
Paid-in capital
$45,000
Retained earnings
$21,000
During the year, Deedle had the following
transactions:
a. Borrowed $30,000 on a long-term loan
b. Interest expense for the year was $3,000. This amount
has not yet been paid in cash
c. Sales for the year were $500,000, all on
account
d. Cash collections of accounts receivable,
$280,000
e. Purchased inventory on account,...
Deedle company began the year with the following account balances: Cash $15,000 Accounts receivable $42,000 Inventory...
Deedle company began the year with the following account
balances:
Cash
$15,000
Accounts receivable
$42,000
Inventory
$33,000
Accounts payable
$24,000
Paid-in capital
$45,000
Retained earnings
$21,000
During the year, Deedle had the following
transactions:
a. Borrowed $30,000 on a long-term loan
b. Interest expense for the year was $3,000. This amount
has not yet been paid in cash
c. Sales for the year were $500,000, all on
account
d. Cash collections of accounts receivable,
$280,000
e. Purchased inventory on account,...
The following data is given: December 31, 2018 2017 Cash $66,500 $49,500 Accounts receivable (net) 90,000...
The following data is given:
December 31, 2018 2017
Cash $66,500 $49,500
Accounts receivable (net) 90,000 59,000
Inventories 90,000 105,000
Plant assets (net) 382,500 324,000
Accounts payable 55,500 39,500
Salaries and wages payable 12,000 5,500
Bonds payable 68,500 72,000 8%
Preferred stock, $40 par 100,000 100,000
Common stock, $10 par 120,000 90,000
Paid-in capital in excess of par 75,000 70,000
Retained earnings 198,000 160,500
Net credit sales 995,000
Cost of goods sold 740,000
Net income 82,000
Compute the following ratios:...
A comparative balance sheet for Harrison Co. appear below: Assets 12/31/2019 12/31/2018 Cash $34,000 $11,000 Accounts...
A comparative balance sheet for Harrison Co. appear below:
Assets
12/31/2019
12/31/2018
Cash
$34,000
$11,000
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
(20,000)
(15,000)
Total assets
$123,000
$85,000
Liabilities and Stockholders' Equity
Accounts payable
$17,000
$7,000
Bonds payable
36,000
45,000
Common stock
40,000
23,000
Retained earnings
30,000
10,000
Total liabilities and equity
$123,000
$85,000
Additional information:
Net income for the year ending December 31, 2019 was
$35,000....
Assets 2019 2018 Amount Cash & equivalents $20,000.00 Cash & equivalents $10,000.00 Accounts Receivable $15,000.00 Accounts...
Assets
2019
2018
Amount
Cash & equivalents
$20,000.00
Cash & equivalents
$10,000.00
Accounts Receivable
$15,000.00
Accounts Receivable
$25,000.00
Inventory
$10,000.00
Inventory
$15,000.00
Total current assets
$45,000.00
Total current assets
$50,000.00
Net Plant and equipment
$50,000.00
Net Plant and equipment
$60,000.00
Total assets
$95,000.00
Total assets
$110,000.00
Liabilities and equity
Liabilities and equity
Accounts payable
$5,000.00
Accounts payable
$7,000.00
Accruals
$2,000.00
Accruals
$3,000.00
Notes payable
$10,000.00
Notes payable
$5,000.00
Total current liabilities
$17,000.00
Total current liabilities
$15,000.00
Long term debts
$25,000.00...
Assume that sales will grow at 5.00%. The following accounts (cash, accounts receivable, inventory, net fixed...
Assume that sales will grow at 5.00%. The following accounts
(cash, accounts receivable, inventory, net fixed assets, accounts
payable and accruals, as well as operating costs) are assumed to
change with sales and will maintain their current percentage of
sales rates into 2016. The dividend payout ratio will remain the
same. Long-term debt and notes payable will remain constant into
2016 as will interest expense, as a result. The firm also does not
plan to issue any additional common stock...
Assume that sales will grow at 5.00%. The following accounts (cash, accounts receivable, inventory, net fixed...
Assume that sales will grow at 5.00%. The following accounts
(cash, accounts receivable, inventory, net fixed assets, accounts
payable and accruals, as well as operating costs) are assumed to
change with sales and will maintain their current percentage of
sales rates into 2016. The dividend payout ratio will remain the
same. Long-term debt and notes payable will remain constant into
2016 as will interest expense, as a result. The firm also does not
plan to issue any additional common stock...
Assume that sales will grow at 5.00%. The following accounts (cash, accounts receivable, inventory, net fixed...
Assume that sales will grow at 5.00%. The following accounts
(cash, accounts receivable, inventory, net fixed assets, accounts
payable and accruals, as well as operating costs) are assumed to
change with sales and will maintain their current percentage of
sales rates into 2016. The dividend payout ratio will remain the
same. Long-term debt and notes payable will remain constant into
2016 as will interest expense, as a result. The firm also does not
plan to issue any additional common stock...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- In the article from Forbes notes that the goal of a leader is not to clone...
- Many people keep time using a 24 hour clock (11 is 11am and 23 is 11pm,...
- UNIX ONLY -- DIFFICULT LAB ASSIGNMENT This is an extremely difficult subject for me. Could you...
- Do you know why your credit card can be refused even though you are profitable?
- The Following Java expression: S/10 * 10 + 10 – S = C Show that this...
- Year Cash Flow 0 −$9,700 1 5,800 2 2,500 3 3,400 &nb
- In a two – story building, an exterior column is to be designed for a service...
ADVERTISEMENT