4 - Rutgers 2 ACCT Intermedia ) ch23 [2009-03-04 19:54:31)...

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Unformatted text preview: Rutgers 2 ACCT Intermedia ) ch23 [2009-03-04 19:54:31) - Windows Internet Explorer --@—.L 9 1" — E httpi-‘fvwwvicoilrsei'iero.cornfiriefS463052-‘ch233 a "' VhfitlSti‘lEiVErEQEtEXratEfWJEWl'l'liill'l‘i p ' x Go 3i: Rutgersgccrmtermem (.123 v I Search v1.3.5 v flaw Share' E] v SldEwlkl v 1'} Check v ‘Linumnii v 5, at Rutgers QACCT Q intermedia Q (n23 c2; v iriSignIn v {3 Favorites {3, g NewTab Suggested Site: V g .".el: Slice Geller;- V Q Rutgers> AC(TIntermedia > no; (2009-00-041... E) v a v J gs v 9396' Safety v Twin 01' ” I'he net changes in the balance sneer accounts or tusey. Inc. tor the year 2011 are shown below: A Account Debit Credit Cash 35 125.600 Accounts receivable $ 64.000 Allowance foi douhilul accounts 14,000 Inventory 217.200 Prepaid expenses 20.000 Long-term Investments 144.000 Land 300.000 7 Buildings 500.000 Machinery 100.000 Office equipment 23,000 Accumulated depreciation: Buildings 24.000 Machinery 20,000 Office equment 12.000 7 Accounts payable 183.200 = Accrued liabilities 72.000 Dividends payable 123-000 Premium on bonds 32.000 Bonds payable 800.000 Preferred stock ($50 par) 60.000 Common stock ($10 par] 156.000 Additional paid-in capital—common 223.200 — Retained eainings 37 200 £1 7 5 2 £1 7 $2 ! Additional information: 1. Incomefiflemwm for Yemded Decemberé‘l 2011 Income before extraordinary item 5272.000 Extraordinary loss: Condemnation or land 132 000 Net income m 2. Cash dimdends of $128000 were declared December 15. 2011. payable January 15. 2012 7 Information about "ch23" I-‘ll‘3l'P=il 1E| Rutgers 2 ACCT Intermedia ) ch23 [2009-03-04 19:54:31) - Windows Internet Explorer ((-3 1" — @ http"'Vva.conrsei‘iero.corn.’flle.’54630§2.'chB.’ x Go 3i: Rutgersgccrmtermem (.123 v I Search v1.3.3 v flaw Share' 51 v SldEwlkl v 1'} Check v (\‘JAutoFill v 5, a Rutgers EACH @. intermedia Q (n23 c2; v l:l5ignlrl v {3 Favorites $.13 g New-Tab @ SuggestedEite: v Q .".el: Slice Gellei'j v @ Rutgers> ACCTIntermedia > no; (2009-08-041... a] v 5] v J Q; v Page' Safety v Tools' @v ” Documents Courses ‘ lDoiwnload: finer DOC Comments i0 Rate: onto voles)! There are no relmed _ 50% + . I. ‘ 52 #59 b 0 Search . ,1 documents at lhlS time. Q Uiiiicenoe‘payacre 115.000 - Premium on bonds 32.000 Bonds payable 800.000 7 Preferred stock ($50 par) 60.000 Common stock ($10 par] 156.000 Additional paid-in capttalwommon 223.200 Retained eainings 87 200 $1 7 fi 2 $1 7 52 E Additional information: E 1, lrtcgmejtalement Dela for Year Ended December 31 2011 Income before extraordinary item $272,000 Extraordinary loss: Condemnation of land 132 000 Net income m 2. Cash dividends of $128000 were declared December 15. 2011. payable January 15. 2012 A 5% stock divtdend was issued March 31. 2011. when the market value was $22.00 per share. ’ 3. The long-term investments were sold for $140000. 4. A building and land which cost 5480.000 and had a book value Di $300.000 were sold for 5400.000. The coal of the land. included in the cost and book value above. was $20000, 5. The iollowmg entry was made to record an exchange of an old machine for a new one: Machinery ........ .. . , 160.000 Accumulated Depreciation—Machinery. 40.000 Machinery 60.000 Cash . 140.000 6. A fully depreciated copier machine which cost $28000 was written off. 7. Preferred stock of $60000 par value was redeemed for $80000. Done 9 Internet| Protected Mode: 0n . £10m v L‘llUiHl 1E| Rutgers 2 ACCT Intermedia ) ch23 (2309-03-04 19:54:31) - Windows Internet Explorer --@—.L 9 1" — E httpi-‘fvwmicoursel'iero.comfiriefS‘tfiSUSZ-‘cnzii’ a "' Vl’lfitiStl‘IEiVEIEQEtEXratEfWJEMIHEiIMl p ' x Go gle Rutgersgccrmtermem (.123 v I Search v1.3.5 v flaw Si‘larE' E] v Sidewikt v 1'} Check v ‘LiAutenii v 5, q Rutger; QACCT Q intermedia Q eriza c2; v i:i5ignlrt v {3 Favorites {3, g NewTab Suggested Site: V g .".el: Slice Geller;- V Q Rutgers> AC(TIntermedia > magmas-084141... E) v a v a g; v Page' Safety v Toois' @w ” " u g ‘ .é - A 8. The company sold 12000 shares of its common stock ($10 pat) on June 15, 2011 for $25 a share. There were 87.000 shares outstanding on December 31. 2011. 9. Bonds were sold al104 on December 312011. 10. Land that was condemned had a book value of $240000. Instructions — Prepare a statement of cash flows (indirect method). Ignore tax effects. Solution 23-130 Eusey. inc. Statement at Cash Flows _ For the Year Ended December 31. 2011. = Increase (Decrease) In Cash Cash [lows tram operating activities Net income EB 140.000 Adjustments to reconcile net Income to net cash provided by operating activities: Depreciation expense—buildings $204,000 [1) Depre on expense—machinery 60.000 [2) 7 Depreciation expenserrcffice equipment 16.000 (3) Gain on sale of building and land (100.000) (4) Loss on sale of lung-Ierm investments 4.000 (5) Decrease In accounts receivable (net) 78.000 Increase in inventory (217.200) Increase in prepaid expenses (20,000) Decrease in accounts ayable (183,200) Increase in accrued lIa lIties 72.000 Loss on condemnation of land 132 000 45 600 Net cash provided by operating activities 185.800 Information about "ch23" * Dorie Q Internet| Protected Mode: (in g V "£10099 v I-‘ll‘3l'l=il 1E| Rutgers 2 ACCT Intermedia ) ch23 (2309-03-04 19:54:31) - Windows Internet Explorer ((-3 1" — @ http"'Vva.coursel‘iero.com.’flle.’54630§2.'chZi’ x Go gle Rutgersgccrmtermem(i123 v 'Seareh virgfiv flaw Si‘larE' Ev Sidewikt v 1'} [neck' ‘UAutenii v 5, QRutger; EACH @rntermedia gem c2; v i:i5ignlrt v {3 Favorites {:3 g New-Tab @ SuggestetlEite: v Q .".el: Slice Geller).- v @Rutgers>AccTtntermedia>magma-neon... a] v 5] v a Q; v Page' Safetyv Toois' @v ” _ H I_I ‘ I—I I A A Net cash provided by operating activities 185.600 Cash flows lrorn investing activities Sale 01 Iongrterm investments 140.000 (6) Proceeds from condemnation of land 103.000 [7) Purchase of land (550.000) (8) Sale at building and land 400.000 (9) Purchase of building (1060.000) (10) Purchase of machinery [140 one) (11) Net cash used by Investing activities (1.112.000) Cash flows from financmg activnles Sale ot bonds 832.000 (12) Retirementof preferred stock (30.000) (13) Sale o1 common stock m (1.4) iii Net cash provided by IinanCing activities 1 052 000 Net increase in cash MW 23 - 54 Test Bank for Intermediate Accounting. Thirteenth Edition Solution 23-130 (cont) (1) Net change $ 24.000 new In a“ m and “mural-n mg um . Information about "ch23" * Dorie 9 Internet| Protected Mode: 0n . £10099 v I-‘ll‘3ll=il 1E| Rlltgers 2 ACCT Intermedia ) ch23 [2309-03-04 19:54:31) - Windows Internet Explorer ’9 *‘ @ httpmrwwwcoursanero.:orn/hie/5453052:cn23r ' 9' "‘3‘“maveragmxEmma“ Snare' E] v Sidewikl v 1'} Cheek v figmmnil v {y |§ Rutger; EACH E intermedia Etna {E v ‘:‘Signln v - .fi' . L rigglnc? )3 V x Go gle RutgersACCTintermedia(I123 v 3] Searth'i'd‘fi' “fl” {3 Favorites {3, g NewTab Suggeztetl Site: V g ‘."'.‘Eh Silce Galiei'; V Q Rutgers > AC(TIntermedia > :nB (2009-08-04 1m Eh ' fl ' J é: ' Page ' Safety ' Tools ' QA' ” _' u i I I .; ‘ ‘ (1) Net change $ 24,000 Debit [0 accumulated depreciation m Depreciation expense W— (2) Net change $20000 Debit to accumulated depreciation 40 000 Depreciation expense mm — (3) Net change 5(12‘000) WriIe-Ufl‘ 2a L109 Depreciation expense mu (4) Sale price of building and land 5400.000 Book value of building and land 310.000 : Gain on sale W (5) Carrying value of long-term Investments $144,000 Sale prICe of lung-term investments 14;! mg Loss on sale w (6) Gwen‘ , (7] Condemned land (at will $240000 Extraordinary loss 432309 mm (8) Net change $300.00!) Condemned land and land sold (at cost) 150.000 m (9) Given, (10) Net change 5 600.000 Building sold (310051) N . —H.niaaaa— Information about "ch23" * Dune Q Internet| Pmterted Made: (in vi v "£10099 v L‘lfflib‘i TI ' I: a E‘- Rutgers 2 ACCT Intermedia ) ch23 [2009-03-04 19:54:31) - Windows Internet Explorer --@—.L 9 1" — E http:-'i'vwmiconrsei'iero.comfiriefS‘ifiSUSZ-‘chzif a "' VhfitiSthEEVErEQEtEXratEfWJemmiilnd p ' x Ga gle Rutgermccrmtermem(i123 v ‘Searth viigfiv flaw Share' @v sidewiki v 1'} Ci‘ietk' ‘LiAntdFiiI v {y qnntger; QACCT Qintermedia gem c2; v ‘:‘Signlrl v {3 Favorites {3, g NewTab Suggeztetl Site: V g .".ei: Silce Galiei'; V @Rdtgers>AC(TIntermedia>:hBQUUQ-UE-ml... E) v a v J g; v Page' Safetyv Tooisv @w ” Remdve finm My anebunk i=7: a? A ACCT Inter Documents Cdurses lDownioad: I@FDF @DCC Comments iU_ Bale: 0.0(0 vuies)! There are nu "Elam! - —‘_—‘ ‘ ‘ 80% + II- 1 54 #59 b (a Search. p .1 documents atihisnme _ L055 0H sale w - (6) Gwen. (7] Condemned land (at will $240000 Extraordinary Ines 43230.0 $1M E (8] Net change 333004300 Condemned land and land sold (attest) 100.0011 m (9) Given, (10) Net change $ 600.000 Building sold (at cost) Adela 7 film (11) Given (exchange). (12) Bands Payable $800000 Add Premium 32 000 W (13) Given. (14) 12,000 X 525 = $300,000 Dune QIntemetinmtecteeMedemn q v £10096 v L‘il'DiHi 1E| Rutgers 2 ACCT Intermedia ) ch23 [2009-03-04 19:54:31) - Windows Internet Explorer _ IE I x q; 1%. _ @ mp..WM“....53...em.mm...6545305115193; fl 9] Vhatiiti'ieaveragetaxrateferenriIrigs,Iri(? P v x Gd gie Rutgersnccrmtermem (.123 v I Searth v1.3.3 v flaw Share' 51 v sidewiki v 1'} Cheek v ‘UAntdFiiI v 5, a Rutger; EACH @. intermedia Q (n23 c2; v gsignln ~ g"; Favorltes $.13 g New-Tab g SuggeztetlEilE: v g 9.5:: Eilce GaiiEi'): v @ Rdtgers> ACCTIntermedia > m2; (2009-08041... [5}] v 5] v J Q; v Page' Safety v Tddis' (aw ” Statement 01 Cash Flows 23 - 55 Saluliun 23-130 team.) thrim nlr rrilllin: Shares outstandlng at various IImee 37.600 December 31. 2011 12 mg Issued June 1.5. 2011 m Oursrandmg afler stock dividend March 31. 2011 — 75,600 L 105 = 72,000 shares Qummgnjmck Issuance 12.000 K $10 = 3120.000 Stock dividend 3.500 x $10 = 35 @fl $1553.09 E Aiiian‘irin ii Issuance 12.0!)le $15 = 5180.000 Stock dividend 3.600 K $12 = 43 200 m Net income $140000 DNIdends (cash) (123.313) 12.000 Dividends (slack) [79 200) (67,200) Preferred stock redemption W) M v : Type' Nmee Ten'n' Spring I Snnnni' Riiinarn Vine-r 700‘? i V Dune 9 Internet| Protected Made: On a v “110096 v L‘il'UiHi 1E| ...
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This note was uploaded on 04/19/2010 for the course ACCT ACCT301 taught by Professor Acct301 during the Spring '10 term at 東京国際大学.

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4 - Rutgers 2 ACCT Intermedia ) ch23 [2009-03-04 19:54:31)...

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