The following comparative balance sheets 2019 & 2020 and additional information for "National Company" are given: Assets Dec. 31, 2020 Dec. 31, 2019 Cash $152,000 $44,000 Accounts Receivable 48,000 42,000 Inventory and supplies 28,000 38,000 Investments 0 36,000 Machines 114,000 104,000 Accumulated depreciation- Machines (28,000) (20,000) Total Assets $314,000 $244,000 Liabilities & Stockholders' Equity $74,000 $54,000 Note payable Bonds payable (long-term) 64,000 86,000 Common Stock 80,000 44,000 96,000 60,000 Retained Earnings Total Liabilities & Stockholders' $314,000 $244,000 Equity Common Stock Retained Earnings Total Liabilities & Stockholders' Equity 80,000 44,000 96.000 60.000 $314,000 $244,000 Income Statement & Additional information: 1. Net income for the current year ending December 31, 2020 is $58,000. 2. Sold investments for cash, cost $36,000 and resulting in $6,000 gain. 3. The only changes affecting retained earnings are net income and cash dividends paid. 4. All the following transactions are in cash: Purchased new machines; repay bonds payable; and issuance common stock. Required: Prepare the full statement of cash flows using indirect method for the year ended December 31, 2020. (PLEASE PROVIDE EACH AMOUNT/ITEM IN A SEPARATE LINE) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B 32 Paragraph Arial 2 v. 10pt - V ALY Question 12 4.5 points Save Art (4.5 Grades) On January 1, 2021, the stockholders' equity section of Seef Inc. was as follows Common stock ($10 par value) $400,000; paid-in (contributed) capital in excess of par value $200,000; and retained earnings $150,000. During the year, the following treasury stock transactions occurred March 5: Purchased 5,000 shares for cash at $14 per share. April 25 Sold 2.000 treasury shares for cash at $15 per share, June 25: Sold 3.000 treasury shares for cash at $11 per share Required: Prepare journal entries to record the above treasury stock transactions CLEARLY INDICATE THE DEBITS & CREDITS Example XYZ Company pays $10,000 cash to purchase land Anawer Dr. Land Cr. Cash 10.000 10,000 Question 13 8 points Save Arm (8 Grades) On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000. The company received $900,000 in cash. Interest is paid semiannually on 30 June and 31 December every year. Required: (1) Prepare the journal entry to record the bonds' issuance on 1/1/2020. (2) Prepare the journal entry to record the interest payment and the amortization of bond discount or premium on 30/6/2020. (3) Prepare the journal entry to record the repayment of bonds on 31/12/2024. CLEARLY INDICATE THE DEBITS & CREDITS Example: on 1 January 2020, XYZ Company pays $10,000 cash to purchase land Answer STAT2020 Dr. Land 10,000 Cr. Cash 10.000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIVS Paragraph v Arial v 10pt iii EVA LY I. M E O B 2 11 12 13 14 (7.5 Grades) Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31, 2020: -Common stock $20 par, 100,000 shares authorized, 30,000 shares issued and outstanding...$ 600,000 -Paid in Capital in Excess of Par Value, Common Stock The following transactions occurred during 2021: Retained Earnings. 400,000 1,000,000 1. Feb. 20, Purchased 4,000 of its own shares for $ 30 per share. 2 March 10 Declared a $1 per share cash dividend on the outstanding common stock. 3. Anal 07: Paid the cash dividends declared early in March 10 4. Max 20, Sold all treasury shares for $32 each. 5.Oct 1: Declared 10% stock dividends on the outstanding common stock for the record of Nov. 1 and to be distributed on Dec. 10. The market value of stock on Oct. 1 was $28 per share. 6 Dec 10: Distributed the shares which declared on Oct. 1. 7. Dec 25: Implemented a 2-for-1 stock split, when the market value of stock was $26 per share NOTE: If there is no entry, please write: "NO ENTRY" Required: Prepare Journal entries to record transactions that occurred during 2021. CLEARLY INDICATE THE DEBITS & CREDITS Example: on 1 January 2020. XYZ Company pays $10,000 cash to purchase land Answer 1/1/2020 Dr. Land Cr. Cash 10,000 10,000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 10pt E E ALIM O www Click Submit to complete this assessment Question 15 (3.Grades) Question 15 of 15 3 points Save Attorne On January 1, 2018, Manama Company has 8% 80,000 shares of $10 par value. Cumulative preferred stock and 140,000 shares of common stock authorized, issued and outstanding at $5 par value. The Company declared and paid cash dividends as follows: Year 2018 2019 2020 Dividends $50,000 $110,000 $190,000 Required: In the below table, determine the amount of cash dividends distributed to each class of shares over the three years. Please: Present each year in a separate line, For the toolbar, press ALT+F10 (PC) or ALT+FN-F10 (Mac) B Paragraph Arial 10pt EX A I. * xx < + r ST " BBB DELL Moving to another question will save this response. Question 9 XYZ Inc. issued 6,000 shares of $100 par value stock for $700,000 cash. The total amount of contributed capital in excess of par is: OA $700,000. OB. $600,000. Oc. $0. OD. $100,000. Moving to another question will save this response. DELL Moving to another question will save this response. Question 3 Question 3 of 15 1 points Save A ABC Inc. has bonds outstanding with a par value of $100,000. The unamortized discount on these bonds is $3,500. The company retired these bonds by buying them on the open market at 97% What is the gain or loss on this retirement? OA $3,500 loss OB. $3,500 gain. OC $500 loss Ob $0 gain or loss Moving to another question will save this response. DELL Question 3 o