The comparative balance sheet of Coulson, Inc. at December 31, 20Y2 and 20Y1, is as follows: The
Question:
The comparative balance sheet of Coulson, Inc. at December 31, 20Y2 and 20Y1, is as follows:
The noncurrent asset, noncurrent liability, and stockholders’ equity accounts for 20Y2 are as follows:
Instructions
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.
Transcribed Image Text:
Dec. 31, 20Y2 Dec. 31, 20Y1 Assets $ 300,600 $ 337,800 609,600 Cash ..... Accounts receivable (net) 704,400 Inventories 918,600 865,800 Prepaid expenses 18,600 990,000 26,400 Land .... 1,386,000 Buildings . Accumulated depreciation-buildings. Equipment ... Accumulated depreciation-equipment Total assets 1,980,000 990,000 (397,200) (366,000) 660,600 529,800 (133,200) $5,042,400 (162,000) $4,217,400 Liabilities and Stockholders' Equity $ 594,000 $ 631,200 Accounts payable (merchandise creditors) Income taxes payable Bonds payable.... Common stock, $20 par.. Paid-in capital in excess of par-common stock.. Retained earnings.... Total liabilities and stockholders' equity.. 26,400 21,600 330,000 320,000 180,000 950,000 810,000 2,822,000 $5,042,400 2,574,600 ..... $4,217,400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
Answered By
User l_831638
Hello! My name is Sadhana.M.S. I made specilization in Nuclear Physics at Kuvempu university.I've been an physics tutor for degree level student . My motto is "teach student how to learn".
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Question Posted:
Students also viewed these Business questions
-
The comparative balance sheet of Coulson, Inc. at December 31, 2014 and 2013 is as follows: The noncurrent asset, noncurrent liability, and stockholders equity accounts for 2014 are as follows:...
-
The comparative balance sheet of Coulson, Inc. at December 31, 2016 and 2015, is as follows: The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2016 are as follows:...
-
The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 20Y2 are as follows:...
-
Name the following compounds, and indicate whether each is a reducing sugar or a nonreducing sugar: a. b. c. d. CH,OH HO OCH2CH2CH3 OH HO CH2OH OCH3 - HOCH OCH2CH3 CH OH OH OH
-
What is the change in population 3 during these years? The following table describes populations that are growing through immigration or emigration. For each, sketch a graph, find the number of...
-
A channel has a bit rate of 4 kbps and a propagation delay of 20 msec. For what range of frame sizes does stop-and-wait give an efficiency of at least 50 percent?
-
12. There is a collision between cars driven by Candy and Zeke, and both drivers are partly at fault. The evidence is that Candy is about 25 percent responsible, for failing to stop quickly enough,...
-
The 2012 comparative balance sheet and income statement of Rolling Hills, Inc., follow: Additionally, Rolling Hills purchased land of $23,600 by financing it 100% with long-term notes payable during...
-
Please explain in detail for this question. Thank you. . On 01.10.2013, the apple share price is $610 and the call option with exercise price $610 and exercise date 01.11.2013 is $10. With $610 you...
-
Your raw sensor signal is 6.5 mV, and you are using an instrumentation amplifier to process it. The amplifier has a CMRR of 80 dB and a differential mode gain of 40 dB. If the RF noise on the leads...
-
List the errors you find in the following statement of cash flows. The cash balance at the beginning of the year was $240,000. All other amounts are correct, except the cash balance at the end of the...
-
AT&T Inc. (T) is a leading global provider of telecommunication services. Facebook, Inc. (FB) is a major worldwide social media company. AT&T has a lengthy history and was founded by Alexander Graham...
-
Explain how the formula Gross profit = net sales - cost of goods sold can be rearranged to find net sales?
-
A company uses the FIFO method for inventory costing. At the beginning of a period it reported the following data: Conversion Percent Units Complete Beginning work in process 20,000 40% Units started...
-
1. Patrick told his friend that his sister is 3 times older than him. If Patrick is nine at the moment, how old is his sister? 2. You earn $10 per hour, while Sam earns 1.5 times more than you per...
-
1. What is the meaning of time value of money and its roles in finance? 2. What is the meaning of present value and future value? 3. How interest rate and time period has correlation with future...
-
Let 0 1 u = 1 and v = -1 -5 0 }] Which one of the following vectors is a linear combination of u and v?
-
For the functions f(x) = 6x - 1 and g(x) = 4x + x, find (go f)(x). Provide your answer below: (gof)(x)=
-
If $1 is invested over a 10-year period, then the balance A after t years is given by either A = 1 + 0.075 [t] or A = e0.07t depending on whether the interest is simple interest at 71 2% or...
-
Calculate Total Contribution Margin for the same items. Total Revenue Total Variable Costs Total Contribution Margin $50.00 a. $116.00 $329.70 b. $275.00 $14,796.00 $7,440.00 c. $40,931.25 d....
-
The capital investment committee of Ellis Transport and Storage Inc. is considering two investment projects. The estimated income from operations and net cash flows from each investment are as...
-
Social Circle Publications Inc. is considering two new magazine products. The estimated net cash flows from each product are as follows: Each product requires an investment of $ 125,000. A rate of...
-
Social Circle Publications Inc. is considering two new magazine products. The estimated net cash flows from each product are as follows: Each product requires an investment of $ 125,000. A rate of...
-
5. A Firm considers in initiating an aggressive dividend reinvestment plan. In which it allows its investors to use dividends to buy shares at a discount of 40% of current market value. The firms...
-
KC Ltd manufactures and sells a single product. Cost data for the product are given below Variable cost per unit Direct Materials $6 Direct labour $11 Variable manufacturing overhead $5 Variable...
-
. The Yummyr Ice Cream Shoppe sold 9.600 servings of ice cream during June for 55 per serving. The shop purchases the ice cream in large tubs from the Dream Ice Cream Company. Each tub costs the...
Study smarter with the SolutionInn App