Rodriquez Corporation’s comparative balance sheets are presented below: RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $16,500 $17,400 Accounts receivable 25,300 22,100 Investments 20,150 15,850 Equipment 59,950 69,850 Accumulated depreciation—equipment (13,850 ) (10,300 ) Total $108,050 $114,900 Accounts payable $14,850 $11,150 Bonds payable 10,600 30,100 Common stock 49,500 45,500 Retained earnings 33,100 28,150 Total $108,050 $114,900
Rodriquez Corporation’s comparative balance sheets are presented below: RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $16,500 $17,400 Accounts receivable 25,300 22,100 Investments 20,150 15,850 Equipment 59,950 69,850 Accumulated depreciation—equipment (13,850 ) (10,300 ) Total $108,050 $114,900 Accounts payable $14,850 $11,150 Bonds payable 10,600 30,100 Common stock 49,500 45,500 Retained earnings 33,100 28,150 Total $108,050 $114,900
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 55PSB: Preparing a Statement of Cash Flows Volusia Company reported the following comparative balance...
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Question
Rodriquez Corporation’s comparative balance sheets are presented below:
RODRIQUEZ CORPORATION |
||||||
2020 |
2019 |
|||||
Cash |
$16,500 |
$17,400 |
||||
Accounts receivable |
25,300 |
22,100 |
||||
Investments |
20,150 |
15,850 |
||||
Equipment |
59,950 |
69,850 |
||||
(13,850 |
) |
(10,300 |
) |
|||
Total |
$108,050 |
$114,900 |
||||
Accounts payable |
$14,850 |
$11,150 |
||||
Bonds payable |
10,600 |
30,100 |
||||
Common stock |
49,500 |
45,500 |
||||
33,100 |
28,150 |
|||||
Total |
$108,050 |
$114,900 |
Additional information:
1. | Net income was $18,550. Dividends declared and paid were $13,600. | |
2. | Equipment which cost $9,900 and had accumulated depreciation of $1,600 was sold for $3,300. | |
3. | No noncash investing and financing activities occurred during 2020. |
Prepare a statement of
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