He balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 108,900 $ 126,800 Accounts receivable 82,000 97,000 Inventory 105,000 89,000 Prepaid rent 6,000 3,000 Long-term assets: Land 530,000 530,000 Equipment 830,000 720,000 Accumulated depreciation (438,000 ) (288,000 ) Total assets $ 1,223,900 $ 1,277,800 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 109,000 $ 94,000 Interest payable 6,900 13,800 Income tax payable 10,000 6,000 Long-term liabilities: Notes payable 115,000 230,000 Stockholders' equity: Common stock 750,000 750,000 Retained earnings 233,000 184,000 Total liabilities and stockholders' equity $ 1,223,900 $ 1,277,800 Additional Information for 2021: Net income is $79,000. The company purchases $110,000 in equipment. Depreciation expense is $150,000. The company repays $115,000 in notes payable. The company declares and pays a cash dividend of $30,000. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.)
Solved
Show answers
More tips
- C Computers and Internet How to Top Up Your Skype Account Without Losing Money?...
- H Health and Medicine How does childbirth happen: everything future mothers need to know...
- H Health and Medicine What Are the Best Vitamins? A Scientific View on Vitamin Supplements...
- A Auto and Moto How to Deregister a Car in Moscow?...
- A Auto and Moto What Is the Cost of Customs Clearance for a Car in Russia?...
- A Auto and Moto How to choose the right drive for your BMW...
- H Health and Medicine 10 Tips for Avoiding Vitamin Deficiency...
- L Leisure and Entertainment Mysteries of the Name Vyacheslav Dobrynin...
- H Health and Medicine What makes Graves’ disease dangerous?...
- F Food and Cooking When is Easter in 2011?...
Answers on questions: Business
- M Mathematics 2. (10 points) (Multiple choices questions) (Necessary and sufficient conditions) In the following 5 paired statements, let p be the first statement and q the second....
- H History Britian had more more support in the Southern colonies than in the New England region. true or false...
- S Spanish What is one 1:15 in spanish??? (in words)...
Ответ:
Assume that marginal propensity to consume is 0.8 and potential output is $800 billion. If the actual real GDP is $700 billion, increase government spending by $20 billion would bring the economy to potential output.
Explanation:
Hope this helps!
Please mark me as Brainlineast.