The following balance sheets and income statement were taken from the records of RosieLee Company: Statement of Cash Flows, Worksheet Refer to the information for Rosie-Lee Company above. Additional transactions were as follows: a. Sold equipment costing $21,600 with accumulated depreciation of $16,200 for $3,600. b. Issued bonds for $90,000 on December 31. c. Paid cash dividends of $36,000. d. Retired a mortgage at a price of $108,000 on December 31. Required: Prepare a statement of cash flows using a worksheet similar to the one shown in Cornerstone 15-8 (p. 643).

Prepare the balance sheet and income statement by rearranging the above items. Note: Be sure to list the assets and liabilities in order of their liquidity. Enter all amounts as positive values. Cash Receivables Inventories BALANCE SHEET Assets Liabilities and Shareholders' Equity $ 15 Payables $ 35 35 Debt due for repayment 25 50 Total current assets $ 100 Total current liabilities $ 60 Property, plant, and equipment 520 Long-term debt Total liabilities 350 $ 410 Net fixed assets Total assets $ 520 Shareholders' equity 90 $ 620 Total liabilities and shareholders' equity $ 500

The following T-account is a summary of the Cash account of Blossom Company. Balance, Jan. 1 Receipts from customers Dividends on stock investments Proceeds from sale of equipment Proceeds from issuance of bonds payable Balance, Dec. 31 Cash (Summary Form) Net cash 21,600 982,800 Payments for goods 16,200 97,200 540,000 Payments for operating expenses 378,000 Interest paid 27,000 Taxes paid 21,600 810,000 Dividends paid 853,200 What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) 108,000 by financing activities $

Subject: acounting

Baird Incorporated presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from the company's Year 2 and Year 1 year-end balance sheets. Account Title Accounts receivable Year 2 $15,000 Accounts payable $ 8,400 Year 1. $19,500 $10, 150 The Year 2 income statement showed net income of $28,700. Required a. Prepare the operating activities section of the statement of cash flows. (Amounts to be deducted should be indicated with minus sign.) Cash flows from operating activities Net cash flow from operating activities $ 0

Information from the Balance Sheet and Statement of Income are given below for Bramble Inc., a private company reporting under ASPE, for the year ended December 31. Comparative Balance Sheet Cash Accounts receivable Inventory Investments in land Property, plant, and equipment Accumulated depreciation Accounts payable Accrued expenses payable Bonds payable Common shares Retained earnings Retained earnings Revenues Sales Expenses 2021 $78,110 Profit 90,940 123,440 86.540 286,640 (50,060) $615,610 Gain on disposal of equipment Additional Informati $54,140 13,140 140,000 250,000 158,330 Cost of goods sold Depreciation expense Operating expenses Income tax expense Interest expense 2020 $47,350 37,350 103,750 108,350 202,200 (40,200) $458,800 $49,850 19,250 76,000 207,000 106,700 158,330 $615,610 $ 96,250 57,300 15,470 38,000 2,950 106,700 $458,800 $292,500 8,350 300,850 209,970 $ 90,880

Blooming Flower Company was started in Year 1 when it acquired $61,400 cash from the issue of common stock. The following data summarize the company's first three years' operating activities. Assume that all transactions were cash transactions. Purchases of inventory Sales Cost of goods sold Selling and administrative expenses Income Statements Balance Sheets Assets Cash Required Prepare an income statement (use multistep format) and balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.) Merchandise inventory Complete this question by entering your answers in the tabs below. Total assets Liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Year 1 $22,300 26,500 12,400 5,310 $ 60,290 9,900 Prepare a balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting…

The information on the following page was obtained from the records of Breanna Inc.:        Accounts receivable $ 10,700 Accumulated depreciation   50,700 Cost of goods sold   121,000 Income tax expense   8,500 Cash   62,000 Net sales   203,000 Equipment   127,000 Selling, general, and administrative expenses   36,000 Common stock (8,000 shares)   94,000 Accounts payable   13,900 Retained earnings, 1/1/19   28,800 Interest expense   5,900 Merchandise inventory   38,500 Long-term debt   35,000 Dividends declared and paid during 2019   15,800   Except as otherwise indicated, assume that all balance sheet items reflect account balances at December 31, 2019, and that all income statement items reflect activities that occurred during the year ended December 31, 2019. There were no changes in paid-in capital during the year.Required: Prepare an income statement and statement of changes in stockholders' equity for the year ended December 31, 2019, and a…

The following information is available in relation to Britannia Baby Company. The Company has profit before taxes of Rs 50 lacs. Classify and give reasons for the cash flows falling under the operating activities Classify and give reasons for the cash flows falling under the investing activities

During Year 1, Chung Corporation earned $4,800 of cash revenue and accrued $2,500 of salaries expense. Required Based on this information alone: a. Prepare the December 31, Year 1, balance sheet. b. Determine the amount of net income that Chung would report on the Year 1 income statement. c. Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash flows. Complete this question by entering your answers in the tabs below. Accounting Equation Based on this information alone: (Not all cells require input. Enter any decreases to account balances with a minus sign.) CHUNG CORPORATION Accounting Equation - Year 1 Assets = Liabilities + Salaries Payable Cash Event Earned revenue Accrued salaries Ending balance Req A Req B and C = = 0 = 0 + + + Stockholders' Equity Retained Earnings Common Stock + + + 0 + 0