Following are selected balance sheet accounts of Sandhill Bros. Corp. at December 31, 2025 and 2024, and the increases or decreases in each account from 2024 to 2025. Also presented is selected income statement information for the year ended December 31, 2025, and additional information. Selected balance sheet accounts: 2025 2024 Increase (Decrease) Assets Accounts receivable $33,700 $24,000 $9,700 Property, plant, and equipment 275,600 247,800 27,800 Accumulated depreciation-plant assets (178,200) (167,600) (10,600) Liabilities and stockholders' equity Bonds payable $49,200 $46,400 $2,800 Dividends payable 8,000 5,000 3,000 Common stock, $1 par 21,800 18,900 2,900 Additional paid-in capital 8,900 3,000 5,900 Retained earnings 103,400 91,000 12,400 Selected income statement information for the year ended December 31, 2025: Sales revenue $154,000 Depreciation 37,800 Gain on sale of equipment 14,300 Net income 30,700 Additional information: 1. During 2025, equipment costing $44,800 was sold for cash. 2. Accounts receivable relate to sales of merchandise. 3. During 2025, $20,000 of bonds payable were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium. Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items. Activity a. Payments for purchase of property, plant, and equipment. Investing b. Proceeds from the sale of equipment. Investing C. Cash dividends paid. Financing d. Redemption of bonds payable. Financing 51,300 59.100 8,000 20,000 GOOD
Following are selected balance sheet accounts of Sandhill Bros. Corp. at December 31, 2025 and 2024, and the increases or decreases in each account from 2024 to 2025. Also presented is selected income statement information for the year ended December 31, 2025, and additional information. Selected balance sheet accounts: 2025 2024 Increase (Decrease) Assets Accounts receivable $33,700 $24,000 $9,700 Property, plant, and equipment 275,600 247,800 27,800 Accumulated depreciation-plant assets (178,200) (167,600) (10,600) Liabilities and stockholders' equity Bonds payable $49,200 $46,400 $2,800 Dividends payable 8,000 5,000 3,000 Common stock, $1 par 21,800 18,900 2,900 Additional paid-in capital 8,900 3,000 5,900 Retained earnings 103,400 91,000 12,400 Selected income statement information for the year ended December 31, 2025: Sales revenue $154,000 Depreciation 37,800 Gain on sale of equipment 14,300 Net income 30,700 Additional information: 1. During 2025, equipment costing $44,800 was sold for cash. 2. Accounts receivable relate to sales of merchandise. 3. During 2025, $20,000 of bonds payable were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium. Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items. Activity a. Payments for purchase of property, plant, and equipment. Investing b. Proceeds from the sale of equipment. Investing C. Cash dividends paid. Financing d. Redemption of bonds payable. Financing 51,300 59.100 8,000 20,000 GOOD
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please give the correct amounts. The fields highlighted in red are wrong. Please don't use chatgpt. I really need this correct, since this is my last attempt to submit a solution to the problem before it gets graded. Thank you so much and god bless! Please make sure the answer is correct.
Transcribed Image Text:Following are selected balance sheet accounts of Sandhill Bros. Corp. at December 31, 2025 and 2024, and the increases or decreases
in each account from 2024 to 2025. Also presented is selected income statement information for the year ended December 31, 2025,
and additional information.
Selected balance sheet accounts:
2025
2024
Increase
(Decrease)
Assets
Accounts receivable
$33,700
$24,000
$9,700
Property, plant, and equipment
275,600
247,800
27,800
Accumulated depreciation-plant assets
(178,200)
(167,600)
(10,600)
Liabilities and stockholders' equity
Bonds payable
$49,200
$46,400
$2,800
Dividends payable
8,000
5,000
3,000
Common stock, $1 par
21,800
18,900
2,900
Additional paid-in capital
8,900
3,000
5,900
Retained earnings
103,400
91,000
12,400
Selected income statement information for the year ended December 31, 2025:
Sales revenue
$154,000
Depreciation
37,800
Gain on sale of equipment
14,300
Net income
30,700
Additional information:
1.
During 2025, equipment costing $44,800 was sold for cash.
2.
Accounts receivable relate to sales of merchandise.
3.
During 2025, $20,000 of bonds payable were issued in exchange for property, plant, and equipment. There was no
amortization of bond discount or premium.
Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for
the following items.
Activity
a.
Payments for purchase of property, plant, and equipment.
Investing
b.
Proceeds from the sale of equipment.
Investing
C.
Cash dividends paid.
Financing
d. Redemption of bonds payable.
Financing
51,300
59.100
8,000
20,000
GOOD
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