Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Presented here are the financial statements of Vaughn Company. Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total VAUGHN COMPANY Comparative Balance

Presented here are the financial statements of Vaughn Company. Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total VAUGHN COMPANY Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable B Zommon stock 2022 $36,000 32,600 30,100 59,700 (29,800) $128,600 $28,000 7,500 26,600 17,900 2021 $20,300 18,700 20,700 77,200 (23,300) $113,600 $ 16,100 8,200 32,600 14,000 SUPPORT
please solve for all. i have no clue how to go about this. thank you.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Presented here are the financial statements of Vaughn Companv. \begin{tabular}{|c|c|c|} \hline Assets & 2022 & 2021 \\ \hline Cash & $36,000 & $20,300 \\ \hline Accounts receivable & 32,600 & 18,700 \\ \hline Inventory & 30,100 & 20,700 \\ \hline Property, plant, and equipment & 59,700 & 77,200 \\ \hline Accumulated depreciation & (29,800) & (23,300) \\ \hline Total & $128,600 & $113,600 \\ \hline \multicolumn{3}{|l|}{ Liabilities and Stockholders' Equity } \\ \hline Accounts payable & $28,000 & $16,100 \\ \hline Incorne taxes payable & 7.500 & 8,200 \\ \hline Bonds payable & 26,600 & 32,600 \\ \hline Common stock & 17,900 & 14,000 \\ \hline Retained earnings & 48,600 & 42,700 \\ \hline Total & $128,600 & $113,600 \\ \hline \end{tabular} SUPPORT Depreciation expense was $15,200. Additional data: 1. Depreciation expense was $15,200. 2. Dividends declared and paid were $25,700. 3. During the year, equipment was sold for $8,800 cash. This equipment originally cost $17,500 and had accumulated depreciation of $8,700 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.s. (15,000).) Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free Cash Flow $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions