Swifty Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Total Buildings Accumulated depreciation-buildings Accounts payable Common stock Retained earnings Total SWIFTY CORPORATION Comparative Balance Sheets December 31 Additional information: 1. 2 3. A 2022 $14,800 21,500 20,300 70,000 (14,600) $112,000 $12,200 74,400 25,400 $112,000 2021 $10,300 23,500 26,400 70,000 (10,400) $119,800 $28,600 69,500 21,700 $119,800 Net income was $22,900. Dividends declared and paid were $19,200. No noncash investing and financing activities occurred during 2022. The land was sold for cash of $4,500.

Swifty Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Total Buildings Accumulated depreciation-buildings Accounts payable Common stock Retained earnings Total SWIFTY CORPORATION Comparative Balance Sheets December 31 Additional information: 1. 2 3. A 2022 $14,800 21,500 20,300 70,000 (14,600) $112,000 $12,200 74,400 25,400 $112,000 2021 $10,300 23,500 26,400 70,000 (10,400) $119,800 $28,600 69,500 21,700 $119,800 Net income was $22,900. Dividends declared and paid were $19,200. No noncash investing and financing activities occurred during 2022. The land was sold for cash of $4,500.

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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