Homework Answers
| Cash Flows from Operating Activities: | ||
| Net Income | $23,100 | |
| Adjustments to reconcile net income to : | ||
| Net Cash provided by Operating Activities: | ||
| Depreciation Expense | $4,600 | |
| Loss on Disposal of Plant Assets | $1,600 | |
| Decrease in Accounts Receivable | $1,500 | |
| Decrease in Accounts Payable | -$15,200 | -$7,500 |
| Cash flows from Operating Activities | $15,600 | |
| Net Cash provided by Investing Activities: | ||
| Cash from sale of land | $4,600 | |
| Cash flows from Investing activities | $4,600 | |
| Cash Flows from Financing Activities : | ||
| Dividend payment | -$16,900 | |
| Increase in Common Stock | $800 | |
| Cash flows from Financing Activities | -$16,100 | |
| Net Increase in Cash | $4,100 | |
| Cash at Beginning of Period | $10,800 | |
| Cash at End of Period | $14,900 |
Notes:
1. Depreciation Expense = Accumulated Depreciation at December 2020 - Accumulated Depreciation at December 2019 = $15,100 - $10,500 = $4,600
2. Loss on Disposal on Plant Assets = Plant Assets at December 2019 - Plant Assets at December 2020 - Cash received from disposal = $26,200 - $20,000 - $4,600 = $1,600
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plus.comcoun28520/assignment3332255 upport ROJAS CORPORATION Comparative Balance Sheets December 31 2020 $14.900 2019 $10,800 Cash Accounts receivable...
Rojas Corporation’s comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020...
Rojas Corporation’s comparative balance sheets are presented
below.
ROJAS CORPORATION
Comparative Balance Sheets
December 31
2020
2019
Cash
$14,500
$10,700
Accounts receivable
20,800
23,800
Land
19,600
26,300
Buildings
70,100
70,100
Accumulated depreciation—buildings
(15,000
)
(10,700
)
Total
$110,000
$120,200
Accounts payable
$11,800
$28,300
Common stock
75,000
73,400
Retained earnings
23,200
18,500
Total
$110,000
$120,200
Additional information:
1.
Net income was $22,800. Dividends declared and paid were
$18,100.
2.
No noncash investing and financing activities occurred during
2020.
3.
The land...
RACK 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14.900 Accounts receivable 21.500 Land...
RACK 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14.900 Accounts receivable 21.500 Land Buildings 70,100 Accumulated depreciation buildings (14.800) $111.00 $10,400 70,100 (10,700) 119.100 Accounts payable Commons $12.100 75.000 520,300 73.600 17,200 119.100 5111,400 1. Net income was 22,400. Dividends declared and paid were $15.700 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold for cash of 54.900 Prepare a statement of cash flows for 2020 using the indirect method (Show...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Exercise 17-7 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December...
Exercise 17-7 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $15,000 21,100 19,700 70.000 (15.300) $10,700 23,900 25,900 70,000 (10,700) $119,800 Total $110.500 Accounts payable Common stock Retained earnings $11,900 75.400 23,200 $110.500 $28,600 72,300 18,900 $119,800 Total Additional information: 1. Net income was $22,900. Dividends declared and paid were $18,600. 2. No noncash investing and financing activities occurred during 2017 3. The land...
Rojas Corporation’s comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020...
Rojas Corporation’s comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $14,700 $11,000 Accounts receivable 21,100 23,800 Land 20,000 25,600 Buildings 70,000 70,000 Accumulated depreciation—buildings (15,400 ) (10,700 ) Total $110,400 $119,700 Accounts payable $12,300 $28,100 Common stock 74,600 73,800 Retained earnings 23,500 17,800 Total $110,400 $119,700 Additional information: 1. Net income was $23,000. Dividends declared and paid were $17,300. 2. No noncash investing and financing activities occurred during 2020. 3. The land...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2019...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2019 2020 Cash $14,600 $10,300 23,900 Accounts receivable 21,600 Land 20,500 25,900 Buildings 70,200 70,200 Accumulated depreciation-buildings (14,500) (10,800) $112,400 $119,500 Total Accounts payable $12,000 $28,200 74,000 73,300 Common stock Retained earnings 18,000 26,400 $112,400 $119,500 Total Additional information : 1. Net income was $22,900. Dividends declared and paid were $14,500. 2. No noncash investing and financing activities occurred during 2020 3. The land was...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $14.500 $10,700 Accounts receivable Land 20,800 19,600 70,100 23,800 26,300 70,100 Buildings Accumulated depreciation-buildings (15,000) $110,000 (10,700) $120,200 Total Accounts payable $11.800 $28,300 Common stock 75,000 73.400 Retained earnings 23,200 18,500 Total $110,000 $120.200 Additional information: 1. Net income was $22,800. Dividends declared and paid were $18,100. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold...
Rojas Corporation's comparative balance sheets are presented below. 2019 ROJAS CORPORATION Comparative Balance Sheets December 31...
Rojas Corporation's comparative balance sheets are presented below. 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14,600 Accounts receivable 20,800 Land 19,800 Buildings 70,000 Accumulated depreciation-buildings (15,300) Total $109,900 $10,000 23,600 25,600 70,000 (10,900) $118,300 Accounts payable Common stock Retained earnings Total $12,100 74,900 22,900 $109,900 $27,800 71,000 19,500 $118,300 Additional information: 1. Net income was $22,600. Dividends declared and paid were $19,200. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold...
Question 1 Rojas Corporation's comparative balance sheets are presented below ROJAS CORPORATION Comparative Balance Sheets December...
Question 1 Rojas Corporation's comparative balance sheets are presented below ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $15,200 $10,600 20,700 20,300 69,900 23,500 26,300 69,900 (14,800) (10,500) Total $111,300 $119,800 Accounts payable Common stock Retained earnings $11,800 75,900 23,600 $28,300 71,600 19,900 111,300 $119,800 Total Additional information: 1. Net income was $23,100. Dividends declared and paid were $19,400 2. No noncash investing and financing activities occurred during 2017 3. The land...
Rojas Corporation’s comparative balance sheets are presented
below.
ROJAS CORPORATION
Comparative Balance Sheets
December 31
2020
2019
Cash
$14,500
$10,700
Accounts receivable
20,800
23,800
Land
19,600
26,300
Buildings
70,100
70,100
Accumulated depreciation—buildings
(15,000
)
(10,700
)
Total
$110,000
$120,200
Accounts payable
$11,800
$28,300
Common stock
75,000
73,400
Retained earnings
23,200
18,500
Total
$110,000
$120,200
Additional information:
1.
Net income was $22,800. Dividends declared and paid were
$18,100.
2.
No noncash investing and financing activities occurred during
2020.
3.
The land...
RACK 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14.900 Accounts receivable 21.500 Land Buildings 70,100 Accumulated depreciation buildings (14.800) $111.00 $10,400 70,100 (10,700) 119.100 Accounts payable Commons $12.100 75.000 520,300 73.600 17,200 119.100 5111,400 1. Net income was 22,400. Dividends declared and paid were $15.700 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold for cash of 54.900 Prepare a statement of cash flows for 2020 using the indirect method (Show...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Exercise 17-7 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $15,000 21,100 19,700 70.000 (15.300) $10,700 23,900 25,900 70,000 (10,700) $119,800 Total $110.500 Accounts payable Common stock Retained earnings $11,900 75.400 23,200 $110.500 $28,600 72,300 18,900 $119,800 Total Additional information: 1. Net income was $22,900. Dividends declared and paid were $18,600. 2. No noncash investing and financing activities occurred during 2017 3. The land...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2019 2020 Cash $14,600 $10,300 23,900 Accounts receivable 21,600 Land 20,500 25,900 Buildings 70,200 70,200 Accumulated depreciation-buildings (14,500) (10,800) $112,400 $119,500 Total Accounts payable $12,000 $28,200 74,000 73,300 Common stock Retained earnings 18,000 26,400 $112,400 $119,500 Total Additional information : 1. Net income was $22,900. Dividends declared and paid were $14,500. 2. No noncash investing and financing activities occurred during 2020 3. The land was...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $14.500 $10,700 Accounts receivable Land 20,800 19,600 70,100 23,800 26,300 70,100 Buildings Accumulated depreciation-buildings (15,000) $110,000 (10,700) $120,200 Total Accounts payable $11.800 $28,300 Common stock 75,000 73.400 Retained earnings 23,200 18,500 Total $110,000 $120.200 Additional information: 1. Net income was $22,800. Dividends declared and paid were $18,100. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold...
Rojas Corporation's comparative balance sheets are presented below. 2019 ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14,600 Accounts receivable 20,800 Land 19,800 Buildings 70,000 Accumulated depreciation-buildings (15,300) Total $109,900 $10,000 23,600 25,600 70,000 (10,900) $118,300 Accounts payable Common stock Retained earnings Total $12,100 74,900 22,900 $109,900 $27,800 71,000 19,500 $118,300 Additional information: 1. Net income was $22,600. Dividends declared and paid were $19,200. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold...
Question 1 Rojas Corporation's comparative balance sheets are presented below ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $15,200 $10,600 20,700 20,300 69,900 23,500 26,300 69,900 (14,800) (10,500) Total $111,300 $119,800 Accounts payable Common stock Retained earnings $11,800 75,900 23,600 $28,300 71,600 19,900 111,300 $119,800 Total Additional information: 1. Net income was $23,100. Dividends declared and paid were $19,400 2. No noncash investing and financing activities occurred during 2017 3. The land...
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