2-)
Required information (TA furtlewig iteratures to the caiyaatikamy Cemetitie heefr202 - 2020, a statement of me : 2021, - et formatie sesenting resef Res, Inc. are provides scien. La M 3.10 TE . Sulla 4239 20-2 SE ALLA 22 Pagal . 11.1. OLE OF Bociation Ang - Daring 2021 5248.0 milione - sa Dutras te regles 52000 milen of soment 9505 segrees ale besk value Beste caso se sve sayo au zirea : 3500 lien it mea amery Restoran 550.0 milen from its bar Required Prepare the Teeser er Res Inc. (Enter your answers in milion rounded to decimal place f... 5.500.000 hould be 5.53 Antwer le complete and correct. Cachat @ ORARI F. DOE OF VARD S 100 raging A e 1751 Psy C Answer to complete 3/281 De 22 Prald TAP 70 Cri 22 RES Due and Eur 10. 2008 C D TE BELO Accurated Depression 20 fsi T La 720 IC Neerust La Home Payable tel To @ En 01 003 Dende able Salar aut 730 C = DASS Eps 10 109 C ME TTC Osting CIPELE DO Netiscos LO Je De La Net ICE Real Coman 20 al CON Esdal 2001 The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 ere given below for Dux Company. Additional information from Dux's accounting records is provided also. LUX COMPANY Comparative Balance Sheets December 31, 2ez1 and zeze (s in thousands) 2021 2020 Assets Cash Accounts receivabla Less: Allowance for uncollectible accounts Dividends receivable Inventory Long term investment Land Buildings and equipment Less: Accumulated depreciation $ 49 46 (3) 3 65 21 85 273 (70) $ 469 $ 24 53 (2) 2 GB 18 Ge 29e (90) $ 415 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Less: Discount on bonds Shareholders' Equity Common stock Paid in capital excess of par Retained earnings Less: Treasury stock $ 35 3 7 8 25 115 (4) $43 7 2 9 ge (5) 210 24 54 (8) 2ee ze 49 e 5415 $469 DUX COMPANY Income Statortent For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $ 240 Dividend revenue $ 243 Expenses Cost of goods sold 140 os expense Depreciation expense 7 Bad debt expense 1 Interest expense Loss on sale of building 7 Income tax expense 16 Net income Additional information from the accounting records: 2. A building thet originally cost $36,000, and which was three-fourths depreciated. wes sold for $2,000. b. The common stock of Byrd Corporation was purchased for $3,000 as a long-term investment. c Property was acquired by issuing - 1395, seven-year, $25,000 note payable to the seller. d New equipment was purchased for $19.000 cash. e On January 1, 2021, bonds were sold at their $25,000 face value. On January 19, Dux issued a 5% stock dividend (1,000 shares). The market price of the S10 per value common stock was $14 per share at that time. 9. Cash dividends of $11,000 were paid to shareholders. h. On November 12.500 shares of common stock were repurchased as treasury stock at a cost of $8,000. Required: Prepare the statement of cash flows of Dux Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Do not round your intermediate calculations. Enter your answers in thousands (1.e., 10.000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct. DUX COMPANY Statement of Cash Fiowe For the year ended December 31, 2021 IS in thousando) Cash flows from operating activities Cash inflows: From customers S244 X From dividends received 2 olo Cash outflows: To suppliers of goods To employees For interest For income taxes OOOOO 188 37 x 4% 17 IS 492 Net cash flows from operating activities Cash flows from investing activities: Sale of building Purchase of equipment Purchase af long term investment lololo 2 (19) (3) (20) Net cash flows from Investing activities Cash flows from financing activities: Sale af bonds payable Payment of dividends Purchase of treasury stack 25 DOO (11) (a) G Net cash flows from financing activities Net increase (decrease in cash Cash balance, January 1 Cash balance December 31 Norcash investing and financing activities: Acquired land 25 24 49 IS IS 25 Required information (TA furtlewig iteratures to the caiyaatikamy Cemetitie heefr202 - 2020, a statement of me : 2021, - et formatie sesenting resef Res, Inc. are provides scien. La M 3.10 TE . Sulla 4239 20-2 SE ALLA 22 Pagal . 11.1. OLE OF Bociation Ang - Daring 2021 5248.0 milione - sa Dutras te regles 52000 milen of soment 9505 segrees ale besk value Beste caso se sve sayo au zirea : 3500 lien it mea amery Restoran 550.0 milen from its bar Required Prepare the Teeser er Res Inc. (Enter your answers in milion rounded to decimal place f... 5.500.000 hould be 5.53 Antwer le complete and correct. Cachat @ ORARI F. DOE OF VARD S 100 raging A e 1751 Psy C Answer to complete 3/281 De 22 Prald TAP 70 Cri 22 RES Due and Eur 10. 2008 C D TE BELO Accurated Depression 20 fsi T La 720 IC Neerust La Home Payable tel To @ En 01 003 Dende able Salar aut 730 C = DASS Eps 10 109 C ME TTC Osting CIPELE DO Netiscos LO Je De La Net ICE Real Coman 20 al CON Esdal 2001 The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 ere given below for Dux Company. Additional information from Dux's accounting records is provided also. LUX COMPANY Comparative Balance Sheets December 31, 2ez1 and zeze (s in thousands) 2021 2020 Assets Cash Accounts receivabla Less: Allowance for uncollectible accounts Dividends receivable Inventory Long term investment Land Buildings and equipment Less: Accumulated depreciation $ 49 46 (3) 3 65 21 85 273 (70) $ 469 $ 24 53 (2) 2 GB 18 Ge 29e (90) $ 415 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Less: Discount on bonds Shareholders' Equity Common stock Paid in capital excess of par Retained earnings Less: Treasury stock $ 35 3 7 8 25 115 (4) $43 7 2 9 ge (5) 210 24 54 (8) 2ee ze 49 e 5415 $469 DUX COMPANY Income Statortent For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $ 240 Dividend revenue $ 243 Expenses Cost of goods sold 140 os expense Depreciation expense 7 Bad debt expense 1 Interest expense Loss on sale of building 7 Income tax expense 16 Net income Additional information from the accounting records: 2. A building thet originally cost $36,000, and which was three-fourths depreciated. wes sold for $2,000. b. The common stock of Byrd Corporation was purchased for $3,000 as a long-term investment. c Property was acquired by issuing - 1395, seven-year, $25,000 note payable to the seller. d New equipment was purchased for $19.000 cash. e On January 1, 2021, bonds were sold at their $25,000 face value. On January 19, Dux issued a 5% stock dividend (1,000 shares). The market price of the S10 per value common stock was $14 per share at that time. 9. Cash dividends of $11,000 were paid to shareholders. h. On November 12.500 shares of common stock were repurchased as treasury stock at a cost of $8,000. Required: Prepare the statement of cash flows of Dux Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Do not round your intermediate calculations. Enter your answers in thousands (1.e., 10.000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct. DUX COMPANY Statement of Cash Fiowe For the year ended December 31, 2021 IS in thousando) Cash flows from operating activities Cash inflows: From customers S244 X From dividends received 2 olo Cash outflows: To suppliers of goods To employees For interest For income taxes OOOOO 188 37 x 4% 17 IS 492 Net cash flows from operating activities Cash flows from investing activities: Sale of building Purchase of equipment Purchase af long term investment lololo 2 (19) (3) (20) Net cash flows from Investing activities Cash flows from financing activities: Sale af bonds payable Payment of dividends Purchase of treasury stack 25 DOO (11) (a) G Net cash flows from financing activities Net increase (decrease in cash Cash balance, January 1 Cash balance December 31 Norcash investing and financing activities: Acquired land 25 24 49 IS IS 25
