Question
The following information is available for Mehring Corporation for the year ended December 31, 2019 Collection of principle on a long term loan to a
The following information is available for Mehring Corporation for the year ended December 31, 2019
| Collection of principle on a long term loan to a supplier (We loaned the $) | $35,000 |
| Purchase of Equipment for Cash | $10,000 |
| Proceeds from sale of a long term investment. | $22,000 |
| Issuance of Common Stock for Cash | $20,000 |
| Depreciation Expense | $25,000 |
| Payment of Bonds Payable (We paid off a loan that we borrowed) | $34,000 |
| Payments of Cash Dividends | $14,000 |
| Net Income | $30,000 |
| Purchase of Land by taking out a long-term loan | $40,000 |
In addition, the following information is available from the Balance Sheets at the end of 2018 and 2019
| 2019 | 2018 | |
| Cash | $102,000 | $34,000 |
| Accounts Receivable | $25,000 | $15,000 |
| Prepaid Insurance | $19,000 | $13,000 |
| Accounts Payable | $30,000 | $19,000 |
| Salaries Payable | $6,000 | $7,000 |
Prepare statement of cash flows
Prepare statement of retained earnings
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Health And Safety Audit An External Audit Perspective
Authors: Abdel Rahman Mansour
1st Edition
6139899648, 978-6139899647
