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Answer
Oakley Company
Statement of Cash Flows
For the year ended 31 December 2020
| Cash flows from operating activities: | ||
| Net income | $135300 | |
|
Add: item that affect net income and Cash Flow differently |
||
| Depreciation | $50100 | |
| Gain on sale of Equipment | ($8700) | |
| Increase in Accounts Receivables | ($34700) | |
| Increase in inventory | ($25700) | |
| Increase in Accounts Payables | $8000 | |
| Decrease in accrued expenses | ($6700) | |
| Net cash flow from operating activities | $117600 | |
| Cash Flows from Investing activities: | ||
| Purchase of Equipment | ($97000) | |
| Sale of Investment | $300 |
| Sale of Equipment | $15500 | |
| Net cash flow from Investing activities | ($81200) | |
| Cash Flows from Financing activities | ||
| Increase in Bonds Payables | $30000 | |
| Proceeds from common stock | $44000 | |
| Payment of Dividend | ($76300) | |
| Net cash flow from Financing activities | ($2300) | |
| Net increase in Cash | $34100 | |
| Cash balance on December 31,2019 | $47700 | |
| Cash balance on December 31,2020 | $81800 | |
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Oakley Company Comparative Balance Sheets December 31 Assets 2020 Cash $81,800 Accounts receivable 92,400 Inventory 126,800...
Oakley Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $84,200 $47,000 Accounts receivable 91,200...
Oakley
Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$84,200
$47,000
Accounts receivable
91,200
56,800
Inventory
124,600
102,200
Investments
83,200
85,000
Equipment
256,000
204,000
Accumulated
depreciation—equipment
(50,000
)
(40,000
)
$589,200
$455,000
Liabilities and
Stockholders’ Equity
Accounts payable
$58,400
$48,700
Accrued expenses payable
12,300
18,600
Bonds payable
101,000
71,000
Common stock
249,000
201,000
Retained earnings
168,500
115,700
$589,200
$455,000
Oakley
Company
Income Statement
For the Year Ended December 31, 2020
Sales revenue
$293,400
Gain on disposal of plant...
Sheridan Company Comparative Balance Sheets December 31 Assets 2019 Cash $93,000 Accounts receivable 89,800 Inventory 120,000...
Sheridan Company Comparative Balance Sheets December 31 Assets 2019 Cash $93,000 Accounts receivable 89,800 Inventory 120,000 Investments 84,600 Equipment 249,000 Accumulated depreciation-equipment (49,600) $586,800 Liabilities and Stockholders' Equity Accounts payable $58,000 Accrued expenses payable 11,800 Bonds payable 103,000 Common stock 251,000 Retained earnings 163,000 $586,800 2018 $47,500 57,900 101,000 86,900 205,000 (40,100) $458,200 $ 48,800 17,800 69,700 193,000 128,900 $458,200 Sheridan Company Income Statement For the Year Ended December 31, 2019 Sales revenue Gain on disposal of equipment $299,000 8,270...
OAKLEY COMPANY Comparative Balance sheet December 31 2017 2016 Assets $82,70047 250 57,000 102,650 87,000 205,000...
OAKLEY COMPANY Comparative Balance sheet December 31 2017 2016 Assets $82,70047 250 57,000 102,650 87,000 205,000 Cash 90,800 126,900 84,500 Accounts Receivable Inventory Investments Equipment 255,000 Accumulated depreciation-equipm ($49,500) (40,000) Total 590 400 $458,900 7 8 Accounts payable o Bonds payable 2 Retained earnings Liabilities and Stockholders' Equity Accrued expenses payable Common stock $57,700 $48,280 18,830 70,000 200,000 121,790 $590 400 $458,900 12,100 100,000 250 000 170.600121 Total 4 1 OAKLEY COMPANY 1 ch17 Tools (1) Protected View File Home...
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...
Ivanhoe Company Comparative Balance Sheets December 31 Assets 2017 2016 Cash Accounts receivable Inventory Land Equipment...
Ivanhoe Company Comparative Balance Sheets December 31 Assets 2017 2016 Cash Accounts receivable Inventory Land Equipment Accumulated depreciation equipment Total Liabilities and Stockholders' Equity $ 156,536 202,576 384,434 184,160 598,520 (151,932) $1,374,294 $ 50,644 174,952 435,078 230,200 460,400 (73,664) $1,277,610 Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $ 89,778 345,300 497,232 441,984 $1,374,294 $ 98,986 460,400 400,548 317,676 $1,277,610 Additional information: 1. Net income for 2017 was $214,086. 2. Depreciation expense was $78,268. 3. Cash dividends...
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...
MARZANO COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $ 63,000 Accounts receivable 88,000 Inventory...
MARZANO COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $ 63,000 Accounts receivable 88,000 Inventory 167,000 Land 80,000 Equipment 265,000 Accumulated depreciation-equipment (66,000) Total $597,000 Change 40,000 12.000 O, I or F Step #3 0 2016 $22,000 76,000 189,000 100,000 200,000 (32,000) $555,000 122,000) o (20, 000) I 65.000 I 34,000 0 0 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $34,000 150,000 221,000 192,000 $597,000 $43,000 (9000) 200,000 (50,000) 174,000 (47,...
GRANGER INC. Comparative Balance Sheets December 31 Assets 2016 Cash Accounts receivable Inventory Prepaid expenses Long-term...
GRANGER INC. Comparative Balance Sheets December 31 Assets 2016 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable 2017 $ 80,800 87,800 112,500 28,400 138,000 285,000 (50,000) $682,500 $ 48,400 38,000 102,850 26,000 109,000 242,500 (52,000) $514,750 $102,000 16,500 110,000 az $ 67,300 21,000 146,000 ense 4.730 4,730 Less: Cost of goods sold $135,460 Operating expenses, excluding depreciation 12,410 Depreciation expense 46,500 Income tax expense...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 300 321,200 000 Common stock 484,000 385,000 Retained earnings 514,800 231,990 Total $1,501,500 $1,132,450 Pharoah Company Income Statement Data For the...
SINJH INC. Comparative Balance Sheets December 31 Assets 2012 Cash S 90.800 Accounts receivable 92.800 Inventory...
SINJH INC. Comparative Balance Sheets December 31 Assets 2012 Cash S 90.800 Accounts receivable 92.800 Inventory 112.500 Prepaid expenses 28.400 Investments 138.000 Plant assets 270.000 Accumulated depreciation (50.000) Total $682.500 2011 $ 48.400 33.000 102.850 26.000 114.000) 242.500 (52.000) $514.750 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total S112.000 16.500 110,000 220.000 224.000 S682.500 S 67.300 17.000 150.000 175.000 105.450 S514.750 SINJH INC. Income Statement For the Year Ended December 31, 2012...
Oakley
Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$84,200
$47,000
Accounts receivable
91,200
56,800
Inventory
124,600
102,200
Investments
83,200
85,000
Equipment
256,000
204,000
Accumulated
depreciation—equipment
(50,000
)
(40,000
)
$589,200
$455,000
Liabilities and
Stockholders’ Equity
Accounts payable
$58,400
$48,700
Accrued expenses payable
12,300
18,600
Bonds payable
101,000
71,000
Common stock
249,000
201,000
Retained earnings
168,500
115,700
$589,200
$455,000
Oakley
Company
Income Statement
For the Year Ended December 31, 2020
Sales revenue
$293,400
Gain on disposal of plant...
Sheridan Company Comparative Balance Sheets December 31 Assets 2019 Cash $93,000 Accounts receivable 89,800 Inventory 120,000 Investments 84,600 Equipment 249,000 Accumulated depreciation-equipment (49,600) $586,800 Liabilities and Stockholders' Equity Accounts payable $58,000 Accrued expenses payable 11,800 Bonds payable 103,000 Common stock 251,000 Retained earnings 163,000 $586,800 2018 $47,500 57,900 101,000 86,900 205,000 (40,100) $458,200 $ 48,800 17,800 69,700 193,000 128,900 $458,200 Sheridan Company Income Statement For the Year Ended December 31, 2019 Sales revenue Gain on disposal of equipment $299,000 8,270...
OAKLEY COMPANY Comparative Balance sheet December 31 2017 2016 Assets $82,70047 250 57,000 102,650 87,000 205,000 Cash 90,800 126,900 84,500 Accounts Receivable Inventory Investments Equipment 255,000 Accumulated depreciation-equipm ($49,500) (40,000) Total 590 400 $458,900 7 8 Accounts payable o Bonds payable 2 Retained earnings Liabilities and Stockholders' Equity Accrued expenses payable Common stock $57,700 $48,280 18,830 70,000 200,000 121,790 $590 400 $458,900 12,100 100,000 250 000 170.600121 Total 4 1 OAKLEY COMPANY 1 ch17 Tools (1) Protected View File Home...
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...
Ivanhoe Company Comparative Balance Sheets December 31 Assets 2017 2016 Cash Accounts receivable Inventory Land Equipment Accumulated depreciation equipment Total Liabilities and Stockholders' Equity $ 156,536 202,576 384,434 184,160 598,520 (151,932) $1,374,294 $ 50,644 174,952 435,078 230,200 460,400 (73,664) $1,277,610 Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $ 89,778 345,300 497,232 441,984 $1,374,294 $ 98,986 460,400 400,548 317,676 $1,277,610 Additional information: 1. Net income for 2017 was $214,086. 2. Depreciation expense was $78,268. 3. Cash dividends...
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...
MARZANO COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $ 63,000 Accounts receivable 88,000 Inventory 167,000 Land 80,000 Equipment 265,000 Accumulated depreciation-equipment (66,000) Total $597,000 Change 40,000 12.000 O, I or F Step #3 0 2016 $22,000 76,000 189,000 100,000 200,000 (32,000) $555,000 122,000) o (20, 000) I 65.000 I 34,000 0 0 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $34,000 150,000 221,000 192,000 $597,000 $43,000 (9000) 200,000 (50,000) 174,000 (47,...
GRANGER INC. Comparative Balance Sheets December 31 Assets 2016 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable 2017 $ 80,800 87,800 112,500 28,400 138,000 285,000 (50,000) $682,500 $ 48,400 38,000 102,850 26,000 109,000 242,500 (52,000) $514,750 $102,000 16,500 110,000 az $ 67,300 21,000 146,000 ense 4.730 4,730 Less: Cost of goods sold $135,460 Operating expenses, excluding depreciation 12,410 Depreciation expense 46,500 Income tax expense...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 300 321,200 000 Common stock 484,000 385,000 Retained earnings 514,800 231,990 Total $1,501,500 $1,132,450 Pharoah Company Income Statement Data For the...
SINJH INC. Comparative Balance Sheets December 31 Assets 2012 Cash S 90.800 Accounts receivable 92.800 Inventory 112.500 Prepaid expenses 28.400 Investments 138.000 Plant assets 270.000 Accumulated depreciation (50.000) Total $682.500 2011 $ 48.400 33.000 102.850 26.000 114.000) 242.500 (52.000) $514.750 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total S112.000 16.500 110,000 220.000 224.000 S682.500 S 67.300 17.000 150.000 175.000 105.450 S514.750 SINJH INC. Income Statement For the Year Ended December 31, 2012...
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