Cashflow Assignment $-$Benjamin Company

Comparative Balance Sheets

December $31,2013$ and December $13,2014$

Assets $20132014$ Difference

Cash $27,36094,56067,200$

Accounts Receivable $95,430122,43027,000$

Inventory $127,890102,890(25,000)$

Prepaid Expenses $20,000-(20,000)$

Land $-25,00025,000$

Building $-137,000137,000$

Accumulated Depr. $-$ Building $-(15,000)(15,000)$

Equipment $34,00033,000(1,000)$

Accumulated Depr $-$ Equipment $(24,000)(14,500)9,500$

Patents $6,0004,000(2,000)$

Total Assets $286,680489,380202,700$

Liabilities & Stockholder$$s Equity

Accounts Payable $46,75020,750(26,000)$

Notes Payable $($Current$)-10,00010,000$

Accrued Liabilities $12,300-(12,300)$

Mortgage Payable $-162,000162,000$

Common Stock $$10$ par value $150,000180,00030,000$

Additional paid in capital $37,20057,20020,000$

Retained Earnings $40,43059,43019,000$

Total Liabilities & S$/$E $286,680489,380202,700$

Additional information:

$1.$ Net income $$28,000$

$2.$ Building depreciation $$15,000$

$3.$ Equipment depreciation $$3,000$

$4.$ Sold equipment that cost $$13,500$ with accum. depreciation of $$12,500$ at a gain of $$5,300$

$5.$ Equipment purchases $$12,500$

$6.$ Patent amortization $$3,000$

$7.$ Purchased a patent $$1,000$

$8.$ Issued a note payable $$25,000$

$9.$ Repaid a note in the amount of $$15,000$

$10.$ Land and building purchased with a mortgage $$162,000$

$11.$ Sold $1,500$ shares of $$20$ par common stock for a total of $$50,000$

$12.$ Paid dividends of $$9,000$