Question
A comparative balance sheet for Talkington Corporation is presented below. December 31Assets20172016 Cash$68,000$22,000Accounts receivable82,00066,000Inventory170,000189,000Land71,000110,000Equipment280,000200,000Accumulated depreciation-equipment(74,000)(42,000)Total$597,000$545,000 Liabilities and Stockholders' Equity Accounts payable$34,000$47,000Bonds payable150,000200,000Common stock ($1 par)164,000164,000Retained
A comparative balance sheet for Talkington Corporation is presented below.
December 31Assets20172016Cash$68,000$22,000Accounts receivable82,00066,000Inventory170,000189,000Land71,000110,000Equipment280,000200,000Accumulated depreciation-equipment(74,000)(42,000)Total$597,000$545,000Liabilities and Stockholders' EquityAccounts payable$34,000$47,000Bonds payable150,000200,000Common stock ($1 par)164,000164,000Retained earnings249,000134,000Total$597,000$545,000
Additional information:
1.Net income for 2017 was $155,000; there were no gains or losses.2.Cash dividends of $40,000 were declared and paid.3.Bonds payable of $50,000 were retired.
Compute each of the following:
1.Net cash provided by operating activities$2.Net cash provided (used) by investing activities$3.Net cash provided (used) by financing activities$
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
15th edition
978-1118159644, 9781118562185, 1118159640, 1118147294, 978-1118147290
