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please hurry, the answer choices are all the same for this This is Part B of Strauss & West LLC problem. You must complete Part
please hurry, the answer choices are all the same for this
This is Part B of Strauss & West LLC problem. You must complete Part A requirements before attempting Part B. Additional information for 2020 are provided in items 1 to 5 beneath the balance sheet. On your work sheet, decompose the changes you calculated previously to the following accounts: 0 Investment securities: (1) Land, building and equipment (m) Bond payable; and (iv) Retained earnings. Part B: Classify the change in each non-cash balance sheet account as operating (O), investing (1), or financing (F) or a combination thereof. Note: In classifying the change, you should take into consideration the additional information (items 1 to 5) beneath the balance sheet. 2020 2019 Current Assets Cash $ 154.750 $ (45,910) Accounts Receivable, net 160,000 136,500 Inventory 330,000 290,000 Prepaid Insurance 3,000 4,000 Long-term Assets Investment securities Land, buildings, equipment Accumulated depreciation $ 31,000 2,500,000 (1,220,000) $ 170,000 2,250,000 (1.144,000) Total Assets $ 1,958,750 $ 1,660,590 Current Liabilities $152.680 Accounts payable Salaries pavable $ 205,520 49.000 40,000 Salaries payable Other current liabilities 49,000 40,000 50,000 150,000 Long-term Liabilities Bonds payable $ 400,000 $ 0 Equity Common stock Retained earnings $ 600,000 716,070 $ 600,000 656,070 Total liabilities and equity $ 1,958,750 $ 1,660,590 Additional information for 2020: 1. Sold investment securities costing $139,000 for $148,000. 2. Purchased new equipment for cash $290,000 3. Equipment costing $40,000 with accumulated depreciation of $30,000 was sold for $12,000. 4. Issued 6% bonds payable at par. $400,000 (a long-term liability). 5. Paid cash dividends of $40,000. Accounts receivable, net Choose. Inventory Choose Prepaid insurance Choose.. Investment securities Choose Additional information for 2020: 1. Sold investment securities costing $139,000 for $148,000. 2. Purchased new equipment for cash $290,000 3. Equipment costing $40,000 with accumulated depreciation of $30,000 was sold for $12,000 4. Issued 6% bonds payable at par, $400,000 (a long-term liability). 5. Paid cash dividends of $40,000. Accounts receivable, net Choose... Inventory Prepaid insurance Investment securities Choose... 1 0,1 o F O, IF LF OF Choose... Land, buildings, equipment Accumulated depreciation Choose.. + Accounts payable Salaries payable Other current liabilities Bonds payable Choose... Choose... + Choose... - Retained earnings Choose
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