Question
Vaughn Manufacturing issued common stock for proceeds of $569000 during 2017. The company paid dividends of...
Vaughn Manufacturing issued common stock for proceeds of $569000 during 2017. The company paid dividends of $101000 and issued a long-term note payable for $383000 in exchange for equipment during the year. The company also purchased treasury stock that had a cost of $83000. The financing section of the statement of cash flows will report net cash inflows of
$768000. $851000. $468000. $385000.
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Paid $125,000 cash to settle a note payable at its $125,000
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Presented below are the financial statements of Vaughn Manufacturing. Vaughn Manufacturing Comparative Balance Sheets December 31...
Presented below are the financial statements of Vaughn
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Vaughn Manufacturing
Comparative Balance Sheets
December 31
Assets
2017
2016
Cash
$ 59,500
$ 34,000
Accounts receivable
34,000
23,800
Inventory
47,600
34,000
Property, plant, and equipment
102,000
132,600
Accumulated depreciation
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)
(40,800
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$183,600
Liabilities and Stockholders’ Equity
Accounts payable
$ 32,300
$ 25,500
Income taxes payable
11,900
13,600
Bonds payable
28,900
56,100
Common stock
30,600
23,800
Retained earnings
85,000
64,600
Total
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Vaughn Manufacturing
Income Statement...
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Mar.
2
Issued 3,900 shares of $5 par value common stock to attorneys
in payment of a bill for $23,400 for services performed in helping
the company to incorporate.
June
12
Issued 67,500 shares of $5 par value common stock for cash of
$421,875.
July
11
Issued 1,000 shares of $100 par value preferred stock for cash
at $109 per share.
Nov.
28
Purchased 2,100 shares of treasury stock for...
Which of the following transactions would be shown in the non-cash investing and financing activities section...
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settled a long-term Note Payable by issuing Common Stock
sold equipment with book value of $6,500 in exchange for $6,500
cash
purchased land for $30,000 cash
issued 20,000 shares of stock at $4 per share
23-2. December 31 2017 2016 33,500 &nb
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2017
2016
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13,000 Cash
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10,000 Accounts Receivable
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0
3,000 Long-Investments
0
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0
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45,000
20,000 Equipment
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(4,500) Accumlated depreciation on equipment
5,000
9,250 Patents
105,750
83,500 Total Assets
5,000
3,000 Accounts Payable
1,000
5,000 Dividends Payable
4,000
8,500 Short-term Notes Payables
32,000
25,000 Long term notes payable
39,000
30,000 Common stock
6,000
3,000...
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