Chapter 12 problem from financial Accounting

The following financial statements and information are available for Blythe Industries, Incorporated Balance Sheets As of December 31 Year 2 $178,20 114.80 287, see 293.ee 723,00 (245,000) 89.900 51.260, 30e 5134,20 95,000 191, 100 229,00 545,000 257,000) 133,000 $1,050, 300 Assets Cash Accounts receivable Inventory Marketable securities (available for sale) Equipment Accumulated depreciation Land Total assets Liabilities and equity Liabilities Accounts payable (inventory) Notes payable-Long-term Bonds payable Total liabilities Stockholders' equity Common stock, no par Preferred stock, $50 par Paid-in capital in excess of par-Preferred stock Total paid-in capital Retained earnings Less: Treasury stock Total stockholders' equity Total liabilities and stockholders' equity 540, see 256,000 222,000 513 50e $73,60 278,000 111,000 462,500 267,900 121,000 38,70 427,600 348,200 (34.000 741,300 $1,260,300 222,000 111,000 29,800 362,500 278.900 (44,000 597.700 $1.060,300 $1,168,000 (852.600 315,460 Income Statement For the Year Ended December 31, Year 2 Sales revenue Cost of goods sold Gross profit Operating expenses Supplies expense Salaries expense Depreciation expense Total operating expenses Operating income Nonoperating items Interest expense Gain from the sale of marketable securities Gain from the sale of land and equipment Net income $22,700 102,000 100,000 (224,700) 90,700 (18,000) 29,000 14.000 $115,700 Additional Informatinn 1 Gain from the sale of marketable securities Gain from the sale of land and cquipment Net Income 16.00 5115 Additional Information -800 1. Sold land that cost $44,000 for $49,000 2 Sold equipment that cost $33,000 and had accumulated depreciation of $22,000 for $20.000 3. Purchased new equipment for $211.000. 4. Sold marketable securities that were classified as available for sale and that cost $49.000 for $78,000 5. Purchased new marketable securities, classified as available for sale, for $113,000 6. Paid $22.000 on the principal of the long term note 7. Paid off & S1000 bond issue and issued new bonds for $222.000 8. Sold 100 shares of treasury stock at its cost 9. Issued some new common stock 10. Issued some new $50 par preferred stock 11. Paid dividends. (Note The only transactions to attect retained earnings were net income and dividends) erences Required Organize the class into three sections and divide each section into groups of three to five students. Assign each section of groups an activity section of the statement of cash flows (operating activities, investing activities, or financing activities) Group Task Prepare your assigned portion of the statement of cash flows using the direct method. Have a representative of your section put your activity section of the statement of cash flows on the board. As each section adds its information on the board the full statement of cash flows will be presented Class Discussion Have the class finish the statement of cash flows by computing the net change in cash. Also have the class answer the following questions a. What is the cost per share of the treasury stock sold? b. What was the price per share of the newly issued preferred stock? c. What was the book value of the equipment solde Complete this question by entering your answers in the tabs below. Statement of Cash Flows Reg A to Proy 1 of HI M 1 Statement of Cash Flows Reg A to C Prepare a statement of cash flows using the direct method. (Cash outflows should be indicated with 45 oints BLYTHE INDUSTRIES, INCORPORATED Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities: Cash Receipts from Sales eBook References 5 0 Total cash inflows Cash payments for Interest Inventory purchased Operating expenses (18,000) (18,000) (18.000) Total cash outflows Net cash flow from operating activities Cash flows from investing activities Pald to purchase equipment Paid to purchase marketable securities Proceeds from sale of equipment Proceeds from sale of marketable securities Proceeds from sale of land 0 Net cash flow from investing activities Cash flows from financing activities: Proceeds from bonds issue Proceeds from common stock issue Proceeds from sale of treasury stock Proceeds from preferred stock issue Repayment of bonds MC 2 Problemi $ Total cash inflows Cash payments for Interest Inventory purchased Operating expenses (18.000) (18.000) (18.000) Total cash outflows Net cash flow from operating activities Cash flows from investing activities Paid to purchase equipment Paid to purchase marketable securities Proceeds from sale of equipment Proceeds from sale of marketable securities Proceeds from sale of land 0 Net cash flow from investing activities Cash flows from financing activities Proceeds from bonds issue Proceeds from common stock Issue Proceeds from sale of treasury stock Proceeds from preferred stock issue Repayment of bonds Repayment of loan Payment of dividends 0 (18.000) Net cash flow from financing activities Net Increase in cash Plus: Beginning cash balance Ending cash balance 5 (18.000) Site Req AtoC> Complete this question by entering your answers in the tabs below. Statement of Cash Flows Reg A to a. What is the cost per share of the treasury stock sold? b. What was the price per share of the newly issued preferred stock? (Round final answer to the nearest whole na c. What was the book value of the equipment sold? Cost of treasury stock sold per share Issue price of preferred stock per share Book value of equipment sold a b C. Statement of Cash Flows The following financial statements and information are available for Blythe Industries, Incorporated Balance Sheets As of December 31 Year 2 $178,20 114.80 287, see 293.ee 723,00 (245,000) 89.900 51.260, 30e 5134,20 95,000 191, 100 229,00 545,000 257,000) 133,000 $1,050, 300 Assets Cash Accounts receivable Inventory Marketable securities (available for sale) Equipment Accumulated depreciation Land Total assets Liabilities and equity Liabilities Accounts payable (inventory) Notes payable-Long-term Bonds payable Total liabilities Stockholders' equity Common stock, no par Preferred stock, $50 par Paid-in capital in excess of par-Preferred stock Total paid-in capital Retained earnings Less: Treasury stock Total stockholders' equity Total liabilities and stockholders' equity 540, see 256,000 222,000 513 50e $73,60 278,000 111,000 462,500 267,900 121,000 38,70 427,600 348,200 (34.000 741,300 $1,260,300 222,000 111,000 29,800 362,500 278.900 (44,000 597.700 $1.060,300 $1,168,000 (852.600 315,460 Income Statement For the Year Ended December 31, Year 2 Sales revenue Cost of goods sold Gross profit Operating expenses Supplies expense Salaries expense Depreciation expense Total operating expenses Operating income Nonoperating items Interest expense Gain from the sale of marketable securities Gain from the sale of land and equipment Net income $22,700 102,000 100,000 (224,700) 90,700 (18,000) 29,000 14.000 $115,700 Additional Informatinn 1 Gain from the sale of marketable securities Gain from the sale of land and cquipment Net Income 16.00 5115 Additional Information -800 1. Sold land that cost $44,000 for $49,000 2 Sold equipment that cost $33,000 and had accumulated depreciation of $22,000 for $20.000 3. Purchased new equipment for $211.000. 4. Sold marketable securities that were classified as available for sale and that cost $49.000 for $78,000 5. Purchased new marketable securities, classified as available for sale, for $113,000 6. Paid $22.000 on the principal of the long term note 7. Paid off & S1000 bond issue and issued new bonds for $222.000 8. Sold 100 shares of treasury stock at its cost 9. Issued some new common stock 10. Issued some new $50 par preferred stock 11. Paid dividends. (Note The only transactions to attect retained earnings were net income and dividends) erences Required Organize the class into three sections and divide each section into groups of three to five students. Assign each section of groups an activity section of the statement of cash flows (operating activities, investing activities, or financing activities) Group Task Prepare your assigned portion of the statement of cash flows using the direct method. Have a representative of your section put your activity section of the statement of cash flows on the board. As each section adds its information on the board the full statement of cash flows will be presented Class Discussion Have the class finish the statement of cash flows by computing the net change in cash. Also have the class answer the following questions a. What is the cost per share of the treasury stock sold? b. What was the price per share of the newly issued preferred stock? c. What was the book value of the equipment solde Complete this question by entering your answers in the tabs below. Statement of Cash Flows Reg A to Proy 1 of HI M 1 Statement of Cash Flows Reg A to C Prepare a statement of cash flows using the direct method. (Cash outflows should be indicated with 45 oints BLYTHE INDUSTRIES, INCORPORATED Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities: Cash Receipts from Sales eBook References 5 0 Total cash inflows Cash payments for Interest Inventory purchased Operating expenses (18,000) (18,000) (18.000) Total cash outflows Net cash flow from operating activities Cash flows from investing activities Pald to purchase equipment Paid to purchase marketable securities Proceeds from sale of equipment Proceeds from sale of marketable securities Proceeds from sale of land 0 Net cash flow from investing activities Cash flows from financing activities: Proceeds from bonds issue Proceeds from common stock issue Proceeds from sale of treasury stock Proceeds from preferred stock issue Repayment of bonds MC 2 Problemi $ Total cash inflows Cash payments for Interest Inventory purchased Operating expenses (18.000) (18.000) (18.000) Total cash outflows Net cash flow from operating activities Cash flows from investing activities Paid to purchase equipment Paid to purchase marketable securities Proceeds from sale of equipment Proceeds from sale of marketable securities Proceeds from sale of land 0 Net cash flow from investing activities Cash flows from financing activities Proceeds from bonds issue Proceeds from common stock Issue Proceeds from sale of treasury stock Proceeds from preferred stock issue Repayment of bonds Repayment of loan Payment of dividends 0 (18.000) Net cash flow from financing activities Net Increase in cash Plus: Beginning cash balance Ending cash balance 5 (18.000) Site Req AtoC> Complete this question by entering your answers in the tabs below. Statement of Cash Flows Reg A to a. What is the cost per share of the treasury stock sold? b. What was the price per share of the newly issued preferred stock? (Round final answer to the nearest whole na c. What was the book value of the equipment sold? Cost of treasury stock sold per share Issue price of preferred stock per share Book value of equipment sold a b C. Statement of Cash Flows