Window Help Cash Flows - Question 1 and #2 (Fall 2020).pdf (page 1 of 3) W.R. Corporation Balance Sheet October 31, 2020 Assets Cash Accounts receivable Prepaid insurance Merchandise inventory Land Building Accumulated depreciation building Equipment Accumulated depreciation - equipment Patents Total Assets 2020 19,050 22,000 300 11,000 47,000 70,000 (21,600) 16,000 (4.800) 5.000 $ 163,950 2019 7,000 20,500 200 13,000 17,000 60.000 (19,200) 28,000 (6,400) $ 120,100 $ $ Liabilities and Stockholder's Equity Accounts payable Unearned revenue Dividends payable Income taxes payable Bonds payable Common stock Retained earnings Treasury stock Total Liabilities and Stockholder's Equity 5,200 450 1.000 2,500 80,000 50,000 41,800 (17,000) 163,950 $ 4,800 800 2.000 2.000 40.000 50,000 20,500 120,100 W.R. Corporation Income Statement For the year ended October 31, 2020 Sim $200. et 80 GP Di DD Window Help Cash Flows - Question #1 and #2 (Fall 2020).pdf (page 1 of 3) $200,000 110.000 90,000 2,400 1,600 W.R. Corporation Income Statement For the year ended October 31, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Depreciation expense, building Depreciation expense, equipment Office supplies expense Salaries and benefits expense Other expenses Total operating expenses Operating income Other Items Interest expense Gain on sale of equipment Income before taxes Income taxes Not Income 500 40,000 2200 46.700 43,300 2,000 4.500 41,300 14.000 $27.300 Additional data: 1) Building renovations costing S10.000 were completed and paid for during the year 2) Common stock was repurchased on the stock market for $17.000 cash, an amount equal to their par value. 3) Equipment that initially cost $12,000 and accumulated depreciation of $3,200 was sold for gain of $4,500 in 2020 4) Land for $30,000 was acquired by Issuance of bonds 6) Aptent was purchased for cash at the end of the your at a cost of $5,000, 6) Bonds payable with a face value of $10,000 were issued for cash during the year 7) Dvds of $6.000 were declared during the year. Total dividends paid during 80 888 DI DD 1:30 . bbhosted.cuny.edu Question 2 Madison Corporation Balance Sheart June 30, 2020 $ 1,400 9.000 X550 IS 310 10.000 (10,000 30.000 9.000 36.000 8.SO (7.100) 4.000 53505 55. 5 0120 20 4.50 400 10,000 23.500 4000 16040 Cash Accounts receive Inventory Prepaid asper Land Buildings Accumulated depreciation - Building Equipment Accumulated depreciation - Goodwilt of amortization Total Assets Labilities and Stockholder Accounts payable Salary payable Divina pa Mortgage payable Common stock Ruined Total and Stockholders Euty Madison Corporation Income Statement For the Year Ended June 30, 2020 Sales.net Cost of goods sold Grosso Series Amortization of goodwill Depreciation experie buildings Depreciation expense, Insurance Expert Office and miscellaneous Expense Repairs and maintenance Salaries and benefits Expense Telephone Uties Expense Total Operating Express Operating income $10.000 46410 5 1000 10 21.30 5 31,190 Other items Interest expense 1:31 7 ... bbhosted.cuny.edu 800 300 Other Items Les on sale of equipment Income before income taxes Income tax expense Netcome 16 13.29 Additional information al Alarcel of land was cher the year for $2.000 b) Common stock was issood for cash percent of $3.500 ci Equipment with a cost of 54.000 and accumulated deprecation of $2.900 wid for low of 10 # Mortgage principal of 2.000 es repaid during the year Como stock for $25,000 was insed at par for the acquisition of a building Dividends of S12.000 were declarot didends paid were 510500 Required Prepare a cash flow statement, uning the indirect method Window Help Cash Flows - Question 1 and #2 (Fall 2020).pdf (page 1 of 3) W.R. Corporation Balance Sheet October 31, 2020 Assets Cash Accounts receivable Prepaid insurance Merchandise inventory Land Building Accumulated depreciation building Equipment Accumulated depreciation - equipment Patents Total Assets 2020 19,050 22,000 300 11,000 47,000 70,000 (21,600) 16,000 (4.800) 5.000 $ 163,950 2019 7,000 20,500 200 13,000 17,000 60.000 (19,200) 28,000 (6,400) $ 120,100 $ $ Liabilities and Stockholder's Equity Accounts payable Unearned revenue Dividends payable Income taxes payable Bonds payable Common stock Retained earnings Treasury stock Total Liabilities and Stockholder's Equity 5,200 450 1.000 2,500 80,000 50,000 41,800 (17,000) 163,950 $ 4,800 800 2.000 2.000 40.000 50,000 20,500 120,100 W.R. Corporation Income Statement For the year ended October 31, 2020 Sim $200. et 80 GP Di DD Window Help Cash Flows - Question #1 and #2 (Fall 2020).pdf (page 1 of 3) $200,000 110.000 90,000 2,400 1,600 W.R. Corporation Income Statement For the year ended October 31, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Depreciation expense, building Depreciation expense, equipment Office supplies expense Salaries and benefits expense Other expenses Total operating expenses Operating income Other Items Interest expense Gain on sale of equipment Income before taxes Income taxes Not Income 500 40,000 2200 46.700 43,300 2,000 4.500 41,300 14.000 $27.300 Additional data: 1) Building renovations costing S10.000 were completed and paid for during the year 2) Common stock was repurchased on the stock market for $17.000 cash, an amount equal to their par value. 3) Equipment that initially cost $12,000 and accumulated depreciation of $3,200 was sold for gain of $4,500 in 2020 4) Land for $30,000 was acquired by Issuance of bonds 6) Aptent was purchased for cash at the end of the your at a cost of $5,000, 6) Bonds payable with a face value of $10,000 were issued for cash during the year 7) Dvds of $6.000 were declared during the year. Total dividends paid during 80 888 DI DD 1:30 . bbhosted.cuny.edu Question 2 Madison Corporation Balance Sheart June 30, 2020 $ 1,400 9.000 X550 IS 310 10.000 (10,000 30.000 9.000 36.000 8.SO (7.100) 4.000 53505 55. 5 0120 20 4.50 400 10,000 23.500 4000 16040 Cash Accounts receive Inventory Prepaid asper Land Buildings Accumulated depreciation - Building Equipment Accumulated depreciation - Goodwilt of amortization Total Assets Labilities and Stockholder Accounts payable Salary payable Divina pa Mortgage payable Common stock Ruined Total and Stockholders Euty Madison Corporation Income Statement For the Year Ended June 30, 2020 Sales.net Cost of goods sold Grosso Series Amortization of goodwill Depreciation experie buildings Depreciation expense, Insurance Expert Office and miscellaneous Expense Repairs and maintenance Salaries and benefits Expense Telephone Uties Expense Total Operating Express Operating income $10.000 46410 5 1000 10 21.30 5 31,190 Other items Interest expense 1:31 7 ... bbhosted.cuny.edu 800 300 Other Items Les on sale of equipment Income before income taxes Income tax expense Netcome 16 13.29 Additional information al Alarcel of land was cher the year for $2.000 b) Common stock was issood for cash percent of $3.500 ci Equipment with a cost of 54.000 and accumulated deprecation of $2.900 wid for low of 10 # Mortgage principal of 2.000 es repaid during the year Como stock for $25,000 was insed at par for the acquisition of a building Dividends of S12.000 were declarot didends paid were 510500 Required Prepare a cash flow statement, uning the indirect method