Baggins’s net income for the year ended December 31, Year 2…
Baggins’s net income for the year ended December 31, Year 2 was $185,000. Information from Baggins’s comparative balance sheets is given below. Compute the cash received from the sale of its common stock during Year 2. At December 31 Year 2 Year 1 Common Stock, $5 par value $ 500,000 $ 450,000 Paid-in capital in excess of par 948,000 853,000 Retained earnings 688,000 582,000
Read DetailsIn preparing a company’s statement of cash flows for the mos…
In preparing a company’s statement of cash flows for the most recent year, the following information is available: Loss on the sale of equipment $ 14,000 Purchase of equipment 225,000 Proceeds from the sale of equipment 106,000 Repayment of outstanding bonds 87,000 Purchase of treasury stock 25,000 Issuance of common stock 96,000 Purchase of land 115,000 Increase in accounts receivable during the year 33,000 Decrease in accounts payable during the year 75,000 Payment of cash dividends 35,000 Net cash flows from investing activities for the year were:
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