Question: I will give you vote up , reply fast only 30 minutes left that is only one question Question 16 The following comparative balance sheet

I will give you vote up , reply fast only 30 minutes left

that is only one question

 I will give you vote up , reply fast only 30
minutes left that is only one question Question 16 The following comparative

Question 16 The following comparative balance sheet is given for Extern Co. Auct Dec 31 2021 Cash $351,000 Dec.31.2020 $58,500 63,000 Notes Receivable 72,000 Supplies & Inventory 81,000 121,500 Prepaid expense 31,500 54,000 Long-term investments 0 81,000 Machines and tools 166,500 144,000 Accumulated depreciation equipment (63000) (45.000) Total Assets $639.000 $477.000 Liabilities & Stockholders' Easily Accounts payable $ 31,500 Bonds payable (long-term) $ 76,500 166,500 211,500 Common Stock 180,000 103,500 130.500 Retained Earnings 216.000 Total Liabilities & Stockholders' Equity $.639.000 $477.000 Income Statement Information (20213 1. Net income for the year ending December 31, 2021 is $130.500 2. Depreciation expense is $18,000. 3. There is a loss of 59,000 resulted from the sale of long-term investment Additional information (2921) 1. All sales and purchases of inventory are on account for credit) 2. Received cash for the sale of long-terin investments that had a cost of $81,000, yielding a 59,000 loss. 1 Cash dividends paid is $45,000 4. The company purchased new machines and tools for $22.500 cash 11 HEA, TAMA Question Completion Status Common Stock 180,000 103,500 Retained Earnings 210.000 130.500 Total Liabilities & Stockholders' Equity $.639.000 $477.000 Income Statement Information (2021): 1. Net income for the year ending December 31, 2021 is $130.500. 2. Depreciation expense is $18,000 3. There is a loss of $9,000 resulted from the sale of long-term investiment Additional information (2021) 1. All sales and purchases of inventory are on account (or credit). 2. Received cash for the sale of long-term investiments that had a cost of $81,000, yielding a $9,000 lo 3. Cash dividends paid is $45,000. 4. The company purchased new machines and tools for $22.500 cash Required: Prepare the FIRST (Operating) and the SECOND (Investing) sections of the statement of cash flows for the year ended December 31, 2021. (PLEASE PROVIDE EACH AMOUNT/ITEM IN A SEPARATE LINK) For the tocibar, press ALT+F10 (PC) or ALT+IN+F10(Mac) BIVS Paragraph Arial 10pt M E A I X0 D o 6ESIS F EWORDS PO

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!