ignment 3 TIMER Additional information: 1. Net income 2. Cash dividends of $130,000 were declared December...

 

 

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ignment 3 TIMER Additional information: 1. Net income 2. Cash dividends of $130,000 were declared December 15, 2021, payable January 15, 2022, A 5% stock dividend was issued March 31, 2021, when the market value was $20 per share. 3. The long-term investments were sold for $140,500. 4. A building and land which cost $478,000 and had a book value of $358.000 were sold for $414,000. The cost of the land, included in the cost and book value above, was $21.500. 5. The following entry was made to record an exchange of an old machine for a new one: Machinery Accumulated Depreciation Machinery Machinery Cash 6. A fully depreciated copier machine which cost $28,000 was written off. 7. Preferred stock of $74,300 par value was redeemed for $95,300, 8. The company sold 12,000 shares of its common stock ($10 par) on June 15, 2021 for $26 a share. There were 90,750 shares outstanding on December 31, 2021. 9. Bonds were sold at 104 on December 31, 2021. 10. Land that was condemned had a book value of $242,000. Proceeds received totaled $102,000. Prepare a statement of cash flows (indirect method). Ignore tax effects. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis.g. (15.000).) Adjustments to reconcle net income to Lisa, Inc. Statement of Cash Flows For the Year Ended December 31, 2021 Increase (Decrease) in Cash v 157,000 40,500 V $157,500 65,000 132.500 Account Cash Accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Long-term investments Land Buildings Machinery Office Equipment Accumulated depreciation: Buildings Machinery Office Equipment Accounts payable Accrued liabilities Dividends payable Premium on bonds Bonds payable Preferred stock ($50 par) Common stock ($10 par) Additional paid-in capital-common Retained earnings Debit $ 142,300 197,400 20,800 414,000 645,000 92,000 12,000 184,500 74,300 68,500 $1,850,800 Credit $ 65,000 10,900 149,500 28,000 20,500 19,600 73,100 130,000 37,200 930,000 157,500 229,500 $1,850,800 ignment 3 TIMER Additional information: 1. Net income 2. Cash dividends of $130,000 were declared December 15, 2021, payable January 15, 2022, A 5% stock dividend was issued March 31, 2021, when the market value was $20 per share. 3. The long-term investments were sold for $140,500. 4. A building and land which cost $478,000 and had a book value of $358.000 were sold for $414,000. The cost of the land, included in the cost and book value above, was $21.500. 5. The following entry was made to record an exchange of an old machine for a new one: Machinery Accumulated Depreciation Machinery Machinery Cash 6. A fully depreciated copier machine which cost $28,000 was written off. 7. Preferred stock of $74,300 par value was redeemed for $95,300, 8. The company sold 12,000 shares of its common stock ($10 par) on June 15, 2021 for $26 a share. There were 90,750 shares outstanding on December 31, 2021. 9. Bonds were sold at 104 on December 31, 2021. 10. Land that was condemned had a book value of $242,000. Proceeds received totaled $102,000. Prepare a statement of cash flows (indirect method). Ignore tax effects. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis.g. (15.000).) Adjustments to reconcle net income to Lisa, Inc. Statement of Cash Flows For the Year Ended December 31, 2021 Increase (Decrease) in Cash v 157,000 40,500 V $157,500 65,000 132.500 Account Cash Accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Long-term investments Land Buildings Machinery Office Equipment Accumulated depreciation: Buildings Machinery Office Equipment Accounts payable Accrued liabilities Dividends payable Premium on bonds Bonds payable Preferred stock ($50 par) Common stock ($10 par) Additional paid-in capital-common Retained earnings Debit $ 142,300 197,400 20,800 414,000 645,000 92,000 12,000 184,500 74,300 68,500 $1,850,800 Credit $ 65,000 10,900 149,500 28,000 20,500 19,600 73,100 130,000 37,200 930,000 157,500 229,500 $1,850,800

Answer rating: 100% (QA)

Eusey Inc Statement of Cash Flows For the Year Ended December 31 2018 IncreaseDecrease in Cash Cash ... View the full answer