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...
-
From among the isomeric compounds of molecular formula C4H9Cl, choose the one having a 1H NMR spectrum that (a) Contains only a single peak (b) Has several peaks including a doublet at 3.4 ppm (c)...
-
Find the probability of randomly selecting 1 of the 839 challenges and getting a challenge that was accepted, given that it was made by a female player. Use the following results from the 839 player...
-
In each of the following independent cases in which the partnership owns no hot assets, indicate the following. All of the partners received proportionate distributions. Whether the partner...
-
Find the absolute maximum and minimum values of the function over the indicated interval, and indicate the x-values at which they occur. f(x)=3x-7 (A) (0.5] (8)1-3.3
-
Prepare a cut-over plan to roll out an upgrade to a website application that has 200,000 hits per day. This load is experienced mainly in the normal waking hours of the United States but is not...
-
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...
-
A North Carolina Department of Transportation regulation prohibits the placement of telephone booths within public rights-of-way. Despite this regulation, GTE South, Inc., placed a booth in the...
-
A student education loan has two repayment options. The standard plan repays the loan in 10 years with equal monthly pay- ments. The extended plan allows from 12 to 30 years to repay the loan. A...
-
(7 marks) Interior Space Ltd (Interior Space) is an architectural services company. Invoices for services received by Interior Space are authorised for payment and supported by the following: 1. A...
-
1) What is the difference between a normal profit and an economic profit? 2) What is an incentive system? 3) What is the principal-agent problem as applied to corporations? What are the three major...
-
A particle starts from rest and moves along the x axis from the origin with its velocity given by v = (18 t 2 - 2.0 t 3 ) cm/sec, where t is measured in s. What is the displacement of the particle at...
-
Mr Smith has been very successful in expanding the Caf T outlets and he is now planning an IPO to make Caf T a publicly listed company. The IPO of the company was scheduled on 5th April 2023 and the...
-
Assume MySpace is expanding into Japan. The company must decide where to locate and how to finance the expansion. Identify the financial statement where these decision makers can find the following...
-
Calculate I, , and a for a 0.0175 m solution of Na 3 PO 4 at 298 K. Assume complete dissociation. How confident are you that your calculated results will agree with experimental results?
-
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...
-
Boris Company has multiple business units. Unit A has the following information: sales revenue is $200,000; variable expenses are $140,000; fixed expenses are $100,000. Fixed expenses - which are...
-
What is the indirect cost of this list? Stainless steel sheet metal $ 6,523 Rubber caps 3,284 President's salary 4,752 Shipping to customers 1,154 Wages for maintenance crew 2,865 Insulation for...
-
On January 1, Padma entered into a contract with Nolan to build a barn. Padma is guaranteed to receive $5,000 in addition to a bonus depending on when the project is completed. Nolan is offering to...
Study smarter with the SolutionInn App