Assets.                 Dec. 31, 20Y9. Dec.31, 20Y8 Cash $155,000 $150,000 Accounts Receivable $450,000 $400,000 Inventories $770,000 $750,000 Investments 0 $100,000 Land $500,000 0 Equipment $1,400,000 $1,200,000 Accumulated Depreciation Equipment ($600,000) ($500,000) Total Assets $2, 675,000 $ 2,100,000   Liabilities/Stockers Liability.                                                            Dec. 31, 20Y9         Dec.31, 20Y8 Accounts Payable $340,000 $300,000 Accrued Expense Payable $45,000 $50,000 Dividends Payable $30,000 $ 25,000 Common Stock $4 par $700,000 $ 600,000 Paid in Capital in excess of par-Common Stock $200,000 $175,000 Retained Earnings $ 1, 360,000 $ 950,000 Total Liabilities & Stockholders Equity $ 2, 675,000. $ 2, 100,000 Additional data obtained from an examination of the accounts in the ledger for 20Y7 are as follows:   The investments were sold for $175,000 cash. Equipment and land were acquired for cash. The common stock was issued for cash. There was a $500,000 credit to retained earnings for net income. There was $90,000 debit to retained earnings for cash dividends declared.   Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities

Real World Case 10-3 Property, plant, and equipment; Norfolk Southern Corporation LO10-1 Real World Financials Norfolk Southern Corporation, one of the nation's premier transportation companies, reported the following amounts in the asset section of its balance sheets: ($ in millions) December 31, 2018 $31,091 Property and equipment, ne!. In addition, information from the 2019 statement of cash flows and related notes reported the following items (S in millions): Depreciation Additions to property and equipment Sales price of property and equipment December 31, 2019 $31,614 Required: What is the gain on the sale of property and equipment for the year ended December 31, 2019? $1,139 2,019 377

Financial information for Jay Co. is provided below: BALANCE SHEETS                                                                                                12/31/20                           12/31/19 Cash                          ANSWER/ALL OF THEM           $408,000                        $ 192,000 Accounts receivable                     O                                  360,000                            216,000 Inventory                                      O                                   384,000                            480,000 Equipment                                    I             $608,000                         $960,000 Less accumulated depreciation  O/I           (320,000)     288,000    (304,000)     656,000                                                                                            $1,440,000                      $1,544,000   Accounts payable                         O                               $ 176,000                        $  96,000…

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