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A comparative statement of financial position for Mann Company appears below: MANN COMPANY Comparative Statement of Financial Position Dec. 31, 2020 Assets Equipment Accumulated depreciation equipment Land Prepaid expenses € 60,000 (20,000) -0- 6,000 Dec. 31, 2019 €32,000 (14,000) 18,000 9,000

A comparative statement of financial position for Mann Company appears below: MANN COMPANY Comparative Statement of Financial Position Dec. 31, 2020 Assets Equipment Accumulated depreciation equipment Land Prepaid expenses € 60,000 (20,000) -0- 6,000 Dec. 31, 2019 €32,000 (14,000) 18,000 9,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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=> A comparative statement of financial position for Mann Company appears below: MANN COMPANY Comparative Statement of Financial Position Dec. 31, 2020 Assets Equipment Accumulated depreciation equipment Land Prepaid expenses Inventory Accounts receivable Cash Total assets Equity and Liabilities Share capital-ordinary Retained earnings Bonds payable Accounts payable Total equity and liabilities € 60,000 (20,000) -0- 6,000 25,000 18,000 33,000 €122,000 Instructions(不須編表,請列出計算式,否則不予計分) (a) Compute Net cash from operating activities (b) Compute Net cash from investing activities (c) Compute Net cash from financing activities € 40,000 28,000 37,000 17,000 €122,000 Additional information: 1. Net income for the year ending December 31, 2020 was €33,000 2. Cash dividends of €15,000 were declared and paid during the year. 3. The Land was sold for €14,000. Dec. 31, 2019 €32,000 (14,000) 18,000 9,000 18,000 14,000 10,000 €87,000 €23,000 10,000 47,000 7,000 €87,000 4. All other changes in non-current account balances had a direct effect on cash flows, except the change in accumulated depreciation.
Transcribed Image Text:=> A comparative statement of financial position for Mann Company appears below: MANN COMPANY Comparative Statement of Financial Position Dec. 31, 2020 Assets Equipment Accumulated depreciation equipment Land Prepaid expenses Inventory Accounts receivable Cash Total assets Equity and Liabilities Share capital-ordinary Retained earnings Bonds payable Accounts payable Total equity and liabilities € 60,000 (20,000) -0- 6,000 25,000 18,000 33,000 €122,000 Instructions(不須編表,請列出計算式,否則不予計分) (a) Compute Net cash from operating activities (b) Compute Net cash from investing activities (c) Compute Net cash from financing activities € 40,000 28,000 37,000 17,000 €122,000 Additional information: 1. Net income for the year ending December 31, 2020 was €33,000 2. Cash dividends of €15,000 were declared and paid during the year. 3. The Land was sold for €14,000. Dec. 31, 2019 €32,000 (14,000) 18,000 9,000 18,000 14,000 10,000 €87,000 €23,000 10,000 47,000 7,000 €87,000 4. All other changes in non-current account balances had a direct effect on cash flows, except the change in accumulated depreciation.
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