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pleaseeeeee helppp Balance Sheets As of December 31 Year 2 Year 1 $168,280 108,400 195,700 288,000 682,000 (325,000) 84,000 $1,201,300 $126,600 89,000 180,400 224,000 514,000
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Balance Sheets As of December 31 Year 2 Year 1 $168,280 108,400 195,700 288,000 682,000 (325,000) 84,000 $1,201,300 $126,600 89,000 180,400 224,000 514,000 (252,000) 126,000 $1,008,000 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 Dpaid 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 $38,200 241,000 210,000 489,200 $69,500 262,000 105,000 436,500 252,300 115,000 36,300 403,600 340, 500 (32,000) 712,100 $1,201,300 210,000 105,000 28,100 343,100 270,400 (42,000) 571,500 $1,008,000 $1,102,000 (804,800) 297,200 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 $21,400 97,000 94,000 (212,400 84,800 (17,000) 29,000 13,000 $189,880 Gain from the sale of land and equipment Net income 13,000 $199.800 Additional Information 1. Sold land that cost $42,000 for $46,000 2. Sold equipment that cost $31.000 and had accumulated depreciation of $21000 for $19,000. 3. Purchased new equipment for $199,000 4. Sold marketable securities that were classified as available for sale and that cost $44,000 for $73,000. 5. Purchased new marketable securities, classified as available for sale, for $108,000 6. Paid $21,000 on the principal of the long-term note 7. Paid off a $105,000 bond issue and issued new bonds for $210,000 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. Poid dividends. (Note: The only transactions to affect retained earnings were net income and dividends) 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 sold? Complete this question by entering your answers in the tabs below. Statement of Cash Flows Reg A to Prepare a statement of cash flows using the direct method. (cash outflows should be indicated with a minus sign.) . E RIYTHE INDUSTRIES INCORPORATE BLYTHE INDUSTRIES, INCORPORATED Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities Cash Receipts from $ 0 Total cash inflows Cash payments for 0 0 Total cash outflows Net cash flow from financing activities Cash flows from investing activities Disbursed for notes receivable Interest Operating expenses Inventory purchased 0 Cash flows from financing activities. 0 Total cash outflows Net cash flow from financing activities Cash flows from investing activities: Disbursed for notes receivable Interest Operating expenses Inventory purchased 0 Cash flows from financing activities: 0 0 Ending cash balance $ 0 Complete this question by entering your answers in the tabs below. Statement of Cash Flows Reg A toc 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 antwer to the nearest whole number) c. What was the book value of the equipment sold? Cost of treasury stock sold Issue price of preferred stock Book value of equipment sold per share per share b Step by Step Solution
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