The following financial statement information is from five
separate companies:
December 31, 2016 Company A Company...
The following financial statement information is from five
separate companies:
December 31, 2016 Company A Company B Company C Company D
Company E
Assets 35,000 27,300 22,400 62,300 95,550
Liabilities 28,700 19,110 12,096 42,987 ?
December 21, 2017
Assets 40,000 28,800 ? 72,800 110,400
Liabilities ? 19,584 13,132 34,944 87,216
During year 2017
Owner investments 6,000 1,400 9,750 ? 6,500
Net income (loss) 9,200 ? 6,200 11,543 8,574
Owner cash withdrawals 3,500 2,000 5,875 0 11,000
1a. what is the...
The comparative statement of financial position for Cullumber
Retailers Ltd. follows:
CULLUMBER RETAILERS LTD.
Statement of...
The comparative statement of financial position for Cullumber
Retailers Ltd. follows:
CULLUMBER RETAILERS LTD.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$
0
$
15,000
Accounts receivable
79,000
51,000
Inventory
221,000
166,000
Furniture
137,000
167,000
Accumulated depreciation
(38,000
)
(49,000
)
Total assets
$
399,000
$
350,000
Liabilities and Shareholders’ Equity
Bank overdraft
$
13,000
$
0
Accounts payable
67,000
42,000
Bank loan payable (noncurrent)
88,000
102,000
Common shares
55,000
65,000
Retained earnings
176,000
141,000
Total liabilities...
The condensed financial statements of Ness Company for the years
2019 and 2020 are presented below....
The condensed financial statements of Ness Company for the years
2019 and 2020 are presented below.
Ness
Company
Balance Sheets
December 31 (in thousands)
2020
2019
Current assets
Cash and
cash equivalents
$360
$320
Accounts
receivable (net)
510
380
Inventory
430
420
Prepaid
expenses
120
140
Total current assets
1,420
1,260
Property, plant, and
equipment (net)
430
360
Investments
1
10
Intangibles and other
assets
480
550
Total assets
$2,331
$2,180
Current liabilities
$870
$860
Long-term liabilities
411
270
Stockholders’...
The following information from the Statement of Cash Flows of
Dome Ltd. as of December 31,...
The following information from the Statement of Cash Flows of
Dome Ltd. as of December 31, 2020 is available:
Net cash used by investing activities..........
(65,000)
Net cash provided by financing activities 20,000
Net increase in cash...................................
11,000
Cash, January 1, 2020...............................
33,000
Cash, December 31, 2020........................
$ 44,000
Purchase of land.........................................
(27,000)
Purchase of buildings and equipment.....
(52,000)
Sale of equipment……… 14,000
Payment of cash dividend.........................
(25,000)
Sale of bonds............................................
45,000
The...
Financial statements for Discovery Company follow:
DISCOVERY COMPANY
Statement of Financial Position
As of 31 December...
Financial statements for Discovery Company follow:
DISCOVERY COMPANY
Statement of Financial Position
As of 31 December
20X4
20X3
Assets
Current assets:
Cash
$
28,000
$
24,400
Accounts receivable
779,500
747,200
Inventory
635,900
580,800
Total current assets
1,443,400
1,352,400
Land
529,900
228,800
Plant and equipment
2,664,700
1,844,100
Less: Accumulated depreciation
(1,357,700
)
(1,339,200
)
Patents
140,800
148,000
Total assets
$
3,421,100
$
2,234,100
Liabilities and shareholders’ equity
Liabilities:
Current liabilities:
Accounts payable
$
439,000
$
482,400
Salaries and wages payable
69,200...
The comparative statement of financial position of Flint
Corporation as at December 31, 2020, follows:
FLINT...
The comparative statement of financial position of Flint
Corporation as at December 31, 2020, follows:
FLINT
CORPORATION
Statement of Financial Position
December 31
December
31
Assets
2020
2019
Cash
$
50,000
$
1,400
Accounts receivable
89,200
88,800
Equipment
26,200
22,200
Less: Accumulated depreciation
(5,400
)
(11,300
)
Total
$
160,000
$
101,100
Liabilities and Shareholders’
Equity
Accounts payable
$
20,000
$
10,000
Common shares
100,000
75,700
Retained earnings
40,000
15,400
Total
$
160,000
$
101,100
Net income of $37,100 was...
roblem 14-6A
Condensed statement of financial position and comprehensive income
statement data for Roger Ltd. follow:...
roblem 14-6A
Condensed statement of financial position and comprehensive income
statement data for Roger Ltd. follow:
ROGER
LTD.
Statement of Financial Position
December 31
2018
2017
Assets
Cash
$69,600
$65,100
Accounts receivable (net)
95,200
89,800
Inventory
130,400
123,700
Prepaid expenses
24,200
23,200
Long-term investments
44,800
40,400
Property, plant, and equipment (net)
393,300
307,500
Total assets
$757,500
$649,700
Liabilities and Shareholders’ Equity
Liabilities
Accounts payable
$44,900
$41,700
Accrued liabilities
30,200
40,400
Bank loan payable (current)
110,000
101,000
Bonds payable, due 2025...
Financial statements for Space
Galaxy Ltd. are presented below:
Space Galaxy
Ltd.
Statement of Financial
Position...
Financial statements for Space
Galaxy Ltd. are presented below:
Space Galaxy
Ltd.
Statement of Financial
Position
December 31,
2018
Assets
Liabilities & Shareholders’
Equity
Cash ................................................
$ 44,000
Accounts
payable
$ 28,000
Accounts
receivable
39,000
Buildings and
equipment
154,000
Accumulated depreciation—
Bonds
payable
54,000
buildings
and
equipment
(46,000)
Common
shares
69,000
Patents
24,000
Retained
earnings
64,000
$215,000
$215,000
Space Galaxy
Ltd.
Statement of Cash
Flows
For the Year Ended December
31, 2018
Cash...