The balance sheet data of Pina Company at the end of 2025 and 2024 follow. 2025 2024 Cash $29,900 $35,300 Accounts receivable (net) 54,900 45,300 Inventory 64,400 45,400 Prepaid expenses 15,000 25,100 Equipment 90,900 75,200 Accumulated depreciation-equipment (18,180) (8,100) Land 70,600 40,200 $307,520 $258,400 Accounts payable $65,000 $52,200 Accrued expenses 14,800 17,800 Notes payable-bank, long-term -0- 22,700 Bonds payable 30,200 <-0- Common stock, $10 par 187,900 157,500 Retained earnings 9,620 8,200 $307,520 $258,400 Land was acquired for $30,400 in exchange for common stock, par $30,400, during the year; all equipment purchased was for cash. Equipment costing $13,000 was sold for $3,100; book value of the equipment was $6,000. Cash dividends of $10,000 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a - sign e.g. -12,000 or in parenthesis e.g. (12,000).) a. Net Cash by operating activities. $ b. Net Cash by investing activities. $ C Net Cash by financing activities. $
The balance sheet data of Pina Company at the end of 2025 and 2024 follow. 2025 2024 Cash $29,900 $35,300 Accounts receivable (net) 54,900 45,300 Inventory 64,400 45,400 Prepaid expenses 15,000 25,100 Equipment 90,900 75,200 Accumulated depreciation-equipment (18,180) (8,100) Land 70,600 40,200 $307,520 $258,400 Accounts payable $65,000 $52,200 Accrued expenses 14,800 17,800 Notes payable-bank, long-term -0- 22,700 Bonds payable 30,200 <-0- Common stock, $10 par 187,900 157,500 Retained earnings 9,620 8,200 $307,520 $258,400 Land was acquired for $30,400 in exchange for common stock, par $30,400, during the year; all equipment purchased was for cash. Equipment costing $13,000 was sold for $3,100; book value of the equipment was $6,000. Cash dividends of $10,000 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a - sign e.g. -12,000 or in parenthesis e.g. (12,000).) a. Net Cash by operating activities. $ b. Net Cash by investing activities. $ C Net Cash by financing activities. $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Depreciation Methods
The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.
Depreciation Accounting
In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.
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