Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following account balances relate to the stockholders' equity accounts of Bonita Corp.at year-end 2022 2021 Common stock, 10.500 and 10,000 shares, issued and $161.800

image text in transcribed
image text in transcribed
image text in transcribed
The following account balances relate to the stockholders' equity accounts of Bonita Corp.at year-end 2022 2021 Common stock, 10.500 and 10,000 shares, issued and $161.800 $132.900 outstanding, respectively, for 2022 and 2021 Preferred stock, 5,000 shares, issued and outstanding Retained earnings 147,000 147,000 301,800 253,200 A small stock dividend was declared and issued in 2022. The market price of the shares issued was $10.500 Cash dividends of $16,300 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. (a) What was the amount of net income reported by Bonita Corp. in 2022? Net Income $ Current Attempt in Progress Each of these items must be considered in preparing a statement of cash flows for trvin Co. for the year ended December 31, 2022. For each item, state how it should be shown in the statement of cash flows for 2022 (a) Issued bonds for $200.000 cash. CathInflow From Investire Activity: (b) Purchased equipment for $180,000 cash. Cash Outfiowtrom Francine Activity: lo Sold land costing $20,000 for $20.000 cash (d) Declared and paid a $50,000 cash dividend. Attempts: 0 of 3 used Submit Answer eTextbook and Media Save for Later Last saved 40 minutes ago Saved work will be auto-submitted on the due date Auto submission can take up to 10 minutes. Using multiple attempts will impact your score. 15% score reduction after attempt 1 Current Attemptin Progress The net income for Vaugha for 2022 was $309.500. For 2022 depreciation on plants was 571.300 and the company incurred loss on disposal of plants of $27.100 Compute niet cash provided by operating activities under the indirect method, assuming there were no other changes in the company counts. (Show amounts that decrease cash flow with either aske-35.000 or in parenthesis .. 115.0001) Vaughn Co. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to

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

Students also viewed these Accounting questions