Question
Rambus Corporation Comparative Balance Sheet December 31, 2014 and 2015 Increase Assets 2014 2015 Decrease Cash 230,600 267,300 36,700 Accounts Receivable - Net 803,800 738,800
Rambus Corporation | ||||||||||||
Comparative Balance Sheet | ||||||||||||
December 31, 2014 and 2015 | ||||||||||||
Increase | ||||||||||||
Assets | 2014 | 2015 | Decrease | |||||||||
Cash | 230,600 | 267,300 | 36,700 | |||||||||
Accounts Receivable - Net | 803,800 | 738,800 | (65,000) | |||||||||
Inventory | 830,000 | 960,000 | 130,000 | |||||||||
Prepaid Expenses | 36,800 | 14,800 | (22,000) | |||||||||
Intangible Assets - Patents | 35,000 | 15,000 | (20,000) | |||||||||
Land | 306,200 | 401,200 | 95,000 | |||||||||
Building | 965,000 | 1,300,000 | 335,000 | |||||||||
Accumulated Depreciation - Building | (160,000) | (200,000) | (40,000) | |||||||||
Equipment | 480,000 | 480,000 | - | |||||||||
Accumulated Depreciation - Equipment | (56,000) | (106,000) | (50,000) | |||||||||
Long Term Investments - Stocks | 220,000 | 220,000 | - | |||||||||
Total Assets' | 3,691,400 | 4,091,100 | 399,700 | |||||||||
Liabilities and Stockholder's Equity | ||||||||||||
Accounts Payable | 610,800 | 450,500 | (160,300) | |||||||||
Accrued Liabilities | 24,800 | 10,800 | (14,000) | |||||||||
Notes Payable | 140,000 | 20,000 | (120,000) | |||||||||
Mortgage Payable | 850,000 | 1,180,000 | 330,000 | |||||||||
Bonds Payable | 795,000 | 975,000 | 180,000 | |||||||||
Common Stock | 1,000,000 | 1,150,000 | 150,000 | |||||||||
Paid in C apital in Excess of Par | 80,000 | 80,000 | - | |||||||||
Retained Earnings | 190,800 | 224,800 | 34,000 | |||||||||
Total Liabilities and Stockholder's Equity | 3,691,400 | 4,091,100 | 399,700 | |||||||||
1. Net income was $106,000
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2. Building and equipment depreciation expense were $40,000 and $50,000 respectfully.
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3. Intangible assets (patents) were amortized
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4. Stock investments in the amounts of $100,000 were purchased
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5. Investments were sold for $110,000, on which a $10,000 gain was recorded.
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6. The company issued $180,000 of long term bonds at face value
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7. A office building and land was purchased through the issuance of a $430,000 mortgage
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8. The company paid $100,000 to reduce the mortgage payable in 2015
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9. The company borrows funds in the amount of $150,000 by issuing notes payable and repaid notes payable in the amount of $270,000. | ||||||||||||
payable in the amount of $270,000.
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10. Cash dividends in the amount of $72,000 was declared and paid.
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11. Common stock was issued at par value for cash in 2015. | ||||||||||||
Rambus Corporation | ||||||||||||
Statement of Cash Flows | ||||||||||||
For the year ended 12/31/15 | ||||||||||||
Cash Flows from Operating Activities: | ||||||||||||
Net Income | $ | |||||||||||
Adjustments to reconcile net income to net cash | ||||||||||||
provided by operating activities. |
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