Hocking Corporation\'s comparative balance sheet appears below: Ending Balance B
ID: 2361111 • Letter: H
Question
Hocking Corporation's comparative balance sheet appears below:
Balance Beginning
Balance Assets: Current assets: Cash and cash equivalents $74,800 $32,700 Accounts receivable 27,600 34,400 Inventory 70,600 69,400 Prepaid expenses 15,600 19,400 Total current assets 188,600 155,900 Property, plant and equipment 376,000 348,500 Loss accumulated depreciation 171,400 146,500 Net property, plant, and equipment 204,600 202,000 Total assets $393,200 $357,900 Liabilities and Stockholder's Equity: Current liabilities: Accounts payable $21,400 $16,200 Accrued liabilities 69,400 56,800 Income taxes payable 58,400 54,200 Total current liabilities 149,200 127,200 Bonds payable 86,200 88,200 Total liabilities 235,400 215,400 Stockholder's equity: Common stock 36,300 30,000 Retained earnings 121,500 112,500 Total stockholder's equity 157,800 142,500 Total liabilities and stockholder's equity $393,200 $357,900
Explanation / Answer
Since the company did not sell or retire any fixed assets during the year, change in PPE must be due to the addition of fixed assets. Thus, net cash usd in investing activities = 376000 - 348500 = $27500 Hope this helps!
Related Questions
Hire Me For All Your Tutoring Needs
Integrity-first tutoring: clear explanations, guidance, and feedback.
Drop an Email at
drjack9650@gmail.com
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.