FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A comparative balance sheet for Oriole Corporation is presented below. December 31 2016 $ 22,000 67,460 190,460 72,260 111,460 261,260 201,460 (70,260) (43,460) $600,580 $549,380 Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings. Total 2017 $72,800 83,260 181,260 $ 35,260 150,000 214,000 201,320 $600,580 $ 48,460 200,000 164,000 136,920 $549,380 Additional information: 1. Net income for 2017 was $127,520. No gains or losses were recorded in 2017. 2. Cash dividends of $63,120 were declared and paid. 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. ORIOLE CORPORATION Statement of Cash Flows *(a) Prepare a statement of cash flows for 2017 for Oriole Corporation. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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Transcribed Image Text:A comparative balance sheet for Oriole Corporation is presented below. December 31 2016 $ 22,000 67,460 190,460 72,260 111,460 261,260 201,460 (70,260) (43,460) $600,580 $549,380 Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings. Total 2017 $72,800 83,260 181,260 $ 35,260 150,000 214,000 201,320 $600,580 $ 48,460 200,000 164,000 136,920 $549,380 Additional information: 1. Net income for 2017 was $127,520. No gains or losses were recorded in 2017. 2. Cash dividends of $63,120 were declared and paid. 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. ORIOLE CORPORATION Statement of Cash Flows *(a) Prepare a statement of cash flows for 2017 for Oriole Corporation. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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