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Based on the information provided below, prepare a complete statement of cash flows, including the heading, for Paddy's Pub. Balance sheet 2020 2019 Assets Current assets: Cash and cash equivalents 366 240 Accounts receivable 4260 3180 Inventory 5088 5160 Prepaid Expenses 60 30 Total current assets 9774 8610 Property, plant and equipment Less accumulated depreciation Net property, plant, and equipment 19020 15600 4860 4530 14160 11070 Long-term investments 360 660 Loans to subsidiaries 1284 1020 Total Assets 25578 21360 Liabilities and stockholders' equity 0. Current liabilities: Accounts payable 5820 4020 Accrued liabilities 390 492 Income taxes payable 570 480 6780 4992 Total current liabilities Bonds payable 4920 3600 Total liabilities 11700 8592 Stockholders' equity Common stock 10440 990O Retained earnings 3438 2868 Total stockholders' equity 13878 12768 Total liabilities and stockholders' equity 25578 21360 Income Statement Sales 12000 Cost of goods sold 7800 Gross Margin 4200 Selling and administrative expenses 2940 Net operating income 1260 Nonoperating items: Gain on sale of investments 360 Loss on sale of equipment (120) 240 Income before taxes 1500 Income taxes 480 Net income 1020 1. The company declared and paid a cash dividend 2.Bonds with a principal balance of $2,100 were repaid during the year. 3. Equipment was sold during 2020 for $420. The equipment cost $780 and had $240 in accumulated depreciation on the date of sale. 4.Long-term investments wer sold during the year for $660. These investments cost $300 when purchased in 2014. 5. The subsidiaries did not repay any loans during the year. 6. Paddy's Pub did not repurchase any of its own stock during the year.

Based on the information provided below, prepare a complete statement of cash flows, including the heading, for Paddy's Pub. Balance sheet 2020 2019 Assets Current assets: Cash and cash equivalents 366 240 Accounts receivable 4260 3180 Inventory 5088 5160 Prepaid Expenses 60 30 Total current assets 9774 8610 Property, plant and equipment Less accumulated depreciation Net property, plant, and equipment 19020 15600 4860 4530 14160 11070 Long-term investments 360 660 Loans to subsidiaries 1284 1020 Total Assets 25578 21360 Liabilities and stockholders' equity 0. Current liabilities: Accounts payable 5820 4020 Accrued liabilities 390 492 Income taxes payable 570 480 6780 4992 Total current liabilities Bonds payable 4920 3600 Total liabilities 11700 8592 Stockholders' equity Common stock 10440 990O Retained earnings 3438 2868 Total stockholders' equity 13878 12768 Total liabilities and stockholders' equity 25578 21360 Income Statement Sales 12000 Cost of goods sold 7800 Gross Margin 4200 Selling and administrative expenses 2940 Net operating income 1260 Nonoperating items: Gain on sale of investments 360 Loss on sale of equipment (120) 240 Income before taxes 1500 Income taxes 480 Net income 1020 1. The company declared and paid a cash dividend 2.Bonds with a principal balance of $2,100 were repaid during the year. 3. Equipment was sold during 2020 for $420. The equipment cost $780 and had $240 in accumulated depreciation on the date of sale. 4.Long-term investments wer sold during the year for $660. These investments cost $300 when purchased in 2014. 5. The subsidiaries did not repay any loans during the year. 6. Paddy's Pub did not repurchase any of its own stock during the year.

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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Based on the information provided below, prepare a complete statement of cash flows, including the heading, for Paddy's Pub. Balance sheet 2020 2019 Assets Current assets: Cash and cash equivalents 366 240 Accounts receivable 4260 3180 Inventory 5088 5160 Prepaid Expenses 60 30 Total current assets 9774 8610 Property, plant and equipment Less accumulated depreciation 19020 15600 4860 4530 Net property, plant, and equipment 14160 11070 Long-term investments 360 660 Loans to subsidiaries 1284 1020 Total Assets 25578 21360 Liabilities and stockholders' equity Current liabilities: Accounts payable 5820 4020 Accrued liabilities 390 492 Income taxes payable 570 480 Total current liabilities 6780 4992 Bonds payable 4920 3600 Total liabilities 11700 8592 Stockholders' equity Common stock 10440 9900 Retained earnings 3438 2868 Total stockholders' equity 13878 12768 Total liabilities and stockholders' equity 25578 21360 Income Statement Sales 12000 Cost of goods sold 7800 Gross Margin 4200 Selling and administrative expenses 2940 Net operating income 1260 Nonoperating items: Gain on sale of investments 360 Loss on sale of equipment (120) 240 Income before taxes 1500 Income taxes 480 Net income 1020 1. The company declared and paid a cash dividend 2.Bonds with a principal balance of $2,100 were repaid during the year. 3. Equipment was sold during 2020 for $420. The equipment cost $780 and had $240 in accumulated depreciation on the date of sale. 4.Long-term investments wer sold during the year for $660. These investments cost $300 when purchased in 2014. 5. The subsidiaries did not repay any loans during the year. 6. Paddy's Pub did not repurchase any of its own stock during the year.
Transcribed Image Text:Based on the information provided below, prepare a complete statement of cash flows, including the heading, for Paddy's Pub. Balance sheet 2020 2019 Assets Current assets: Cash and cash equivalents 366 240 Accounts receivable 4260 3180 Inventory 5088 5160 Prepaid Expenses 60 30 Total current assets 9774 8610 Property, plant and equipment Less accumulated depreciation 19020 15600 4860 4530 Net property, plant, and equipment 14160 11070 Long-term investments 360 660 Loans to subsidiaries 1284 1020 Total Assets 25578 21360 Liabilities and stockholders' equity Current liabilities: Accounts payable 5820 4020 Accrued liabilities 390 492 Income taxes payable 570 480 Total current liabilities 6780 4992 Bonds payable 4920 3600 Total liabilities 11700 8592 Stockholders' equity Common stock 10440 9900 Retained earnings 3438 2868 Total stockholders' equity 13878 12768 Total liabilities and stockholders' equity 25578 21360 Income Statement Sales 12000 Cost of goods sold 7800 Gross Margin 4200 Selling and administrative expenses 2940 Net operating income 1260 Nonoperating items: Gain on sale of investments 360 Loss on sale of equipment (120) 240 Income before taxes 1500 Income taxes 480 Net income 1020 1. The company declared and paid a cash dividend 2.Bonds with a principal balance of $2,100 were repaid during the year. 3. Equipment was sold during 2020 for $420. The equipment cost $780 and had $240 in accumulated depreciation on the date of sale. 4.Long-term investments wer sold during the year for $660. These investments cost $300 when purchased in 2014. 5. The subsidiaries did not repay any loans during the year. 6. Paddy's Pub did not repurchase any of its own stock during the year.
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