Genel U O Copy Paste Copy $ - Alignment HS File Home Insert Page Layout Formulas Data Review View Help 9 X out Times New Roman - 12 AA === Wrap Text BI U BOA ESE Merge & Center - Format Painter Clipboard X fx C D 1 Name: 2 In-class #9 Right on Time (ROT) Corporation Trial Balances As of 12/31/2015 and 12/31/2016 Debits Credits Debits Credits 2016 2015 8 Cash 74,700 96,000 9 Accounts receivable 92,000 104,000 10 Allowance for doubtful accounts 2,300 2,600 11 Inventory 56,000 65,000 12 Short term investments 24,000 13 Property plant & equipment 458,000 400,000 14 Accumulated depreciation 60,000 150,000 15 Investment in XYZ Bonds 75,000 120,000 16 Investment in ROT corporation 58,000 17 Land 130,000 85,000 18 Accounts payable 18,000 15,000 19 Taxes payable 36,000 31,000 20 Dividends payable 25,000 12.000 21 Note payable 270,000 300.000 22 Common stock 468,000 348,000 23 Retained earnings 64.400 35,400 943,700 943,700 894,000 894,000 26 1. ROT's net income for the year was $54,000. problem IC #9 bal sheet and cf Type here to search In-class assignment #9 e Search AutoSavem File Home Insert Page Layout Formulas Data Review View Help X out A == Times New Roman ~ 12A BIU-23-AA Wrap Text Merge & Center Paste E Format Painter Clipboard Alignment H8 vf C D E 26 1. ROT's net income for the year was $54,000. na honaga 28 2. Net income included a $4,000 gain on the sale of the short-term securities and a $5,000 loss 29 on the sale of the bonds. 30 31 3. Net income included depreciation expense of $24,000. 334 An older piece of PP&E with an original cost of $142,000 was sold for $20,000. 35 S. A $25,000 dividend was declared. 36 37 6. Additional PP&E was purchased for cash. 38 197. 10% of the outstanding balance on the note payable on 12/31 is due on the following 6/30. 40 11 8. Additional land was acquired by issuing common stock. 12 13 Required: 15 A. Complete a comparative classified balance sheet for 2015 & 2016 in good form. 16 B. Complete the 2016 statement of cash flows in good form using the indirect method. problem IC #9 bal sheet and cf| Type here to search