Statement of Cash Flow Preparation ActivityConsider the following journal entries:Entry(a) cash$4%$481,000.00common stock81,000.00(b) treasury stock13,000.00cash13,000.00(c) cash60,000.00sales revenue60,000.00(d) land87,700.00cash87,700.00(e) depreciation expense9,000.00accumulated depreciation9,000.00(f) dividends payable16,500.00cash16,500.00(g) land18,000.00cash18,000.00(h) cash7,200.007,200.00equipment(1) bonds payablecash45,000.0045,000.00(1) building164,000.00164,000.00note payable, long-term(k) loss on disposal of equipment | 1,400.00equipment, net1,400.00Indicate whether each transaction would result in an operating activity, aninvesting activity, or a financing activity for an indirect method statement ofcash flow and the accompanying schedule of non-cash investing andfinancing activities.Click here to enter text.%24

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Description: Statement of Cash Flow Preparation ActivityConsider the following journal entries:Entry(a) cash$4%$481,000.00common stock81,000.00(b) treasury stock13,000.00cash13,000.00(c) cash60,000.00sales revenue60,000.00(d) land87,700.00cash87,700.00(e) deprec

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Statement of Cash Flow Preparation Activity Consider the following journal entries: Entry |(a) cash 81,000.00 common stock 81,000.00 (b) treasury stock 13,000.00 cash 13,000.00 (c) cash 60,000.00 sales revenue 60,000.00 (d) land 87,700.00 cash 87,700.00 (e) depreciation expense accumulated depreciation 9,000.00 9,000.00 (f) dividends payable 16,500.00 cash 16,500.00 (g) land 18,000.00 cash 18,000.00 | (h) cash equipment (i) bonds payable 7,200.00 7,200.00 45,000.00 cash 45,000.00 () building note payable, long-term (k) loss on disposal of equipment 1,400.00 equipment, net 164,000.00 164,000.00 1,400.00

Statement of Cash Flow Preparation Activity Consider the following journal entries: Entry |(a) cash 81,000.00 common stock 81,000.00 (b) treasury stock 13,000.00 cash 13,000.00 (c) cash 60,000.00 sales revenue 60,000.00 (d) land 87,700.00 cash 87,700.00 (e) depreciation expense accumulated depreciation 9,000.00 9,000.00 (f) dividends payable 16,500.00 cash 16,500.00 (g) land 18,000.00 cash 18,000.00 | (h) cash equipment (i) bonds payable 7,200.00 7,200.00 45,000.00 cash 45,000.00 () building note payable, long-term (k) loss on disposal of equipment 1,400.00 equipment, net 164,000.00 164,000.00 1,400.00

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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Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,571.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,035.00 Interest expense 40,500 42,155.00 Inventories 279,000 288,000 Long-term debt 339,577.00 401,377.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,171.00 Retained earnings 306,000 342,000 Sales 639,000 849,094.00 Taxes 24,750 47,192.00 What is the current year's entry for long-term debt on a common-sized balance sheet? (ROUND TO 4 DECIMAL PLACES.)
How would you prepare a statement of Cash Flows using the following information? Maple Group Ltd Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Increase/Decrease Assets Cash and cash Equivalent $ 51,500.00 $ 45,400.00 $ 6,100.00 Accounts Receivable $ 51,100.00 $ 61,400.00 $ 10,000.00 Inventories $ 61,400.00 $ 51,900.00 $ 9,500.00 Fixed Assets, net $ 160,000.00 $ 110,000.00 $ 50,000.00 Total Assets $ 324,000.00 $ 268,700.00 $ 55,600.00 Liabilities Accounts Payable $ 35,450.00 $ 27,800.00 $ 7,650.00 Accrued liabilities $ 31,000.00 $ 37,550.00 -$ 6,550.00 Long-term notes payable $ 60,000.00 $ 78,540.00 -$ 18,540.00 Stockholders Equity: Common Stock $ 143,050.00 $ 105,110.00 $ 37,940.00 Retained Earnings $ 54,800.00 $ 19,700.00 $…
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