RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2017 2016 $ 16,700
ID: 2438008 • Letter: R
Question
RODRIQUEZ CORPORATION
Comparative Balance Sheets
December 31
2017
2016
$ 16,700
$ 17,300
25,100
22,300
20,050
15,750
60,250
69,850
(13,750
)
(10,300
)
$108,350
$114,900
$ 14,650
$ 11,050
10,800
30,100
49,800
44,500
33,100
29,250
$108,350
$114,900
Additional information:
RODRIQUEZ CORPORATION
Comparative Balance Sheets
December 31
2017
2016
Cash$ 16,700
$ 17,300
Accounts receivable25,100
22,300
Investments20,050
15,750
Equipment60,250
69,850
Accumulated depreciation—equipment(13,750
)
(10,300
)
Total$108,350
$114,900
Accounts payable$ 14,650
$ 11,050
Bonds payable10,800
30,100
Common stock49,800
44,500
Retained earnings33,100
29,250
Total$108,350
$114,900
Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Loss on Disposal of Equipment Increase in Accounts Receivable Increase in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Investments Sale of Equipment Net Cash Used by Investing Activities Cash Flows from Financing Activities Retirement of Bonds Issuance of Common Stock Payment of Dividends Net Cash Used by Financing Activities Net Decrease in Cash Cash at Beginning of Period Cash at End of PeriodExplanation / Answer
Solution:
RODRIQUEZ CORPORATION Statement of Cash Flows For year ended December 31, 2017 Particulars Details Amount Cash Flow from Operating Activities: Net Income $18,450.00 Adjustments to reconcile net income to net cash provided by operations: Depreciation Expense ($13,750 - $10,300 + $1,700) $5,150.00 Loss on sale of equipment ($9,600 - $1,700 - $3,600) $4,300.00 Increase in accounts receivables ($25,100 - $22,300) -$2,800.00 Increase in accounts payable ($14,650 - $11,050) $3,600.00 Net Cash provided by operating activities $28,700.00 Cash Flow from Investing Activities: Proceed from sale of equipment $3,600.00 Purchase of investments ($20,050 - $15,750) -$4,300.00 Net Cash Provided by Investing activities -$700.00 Cash Flow from Financing Activities: Proceed from issue of common stock ($49,800 - $44,500) $5,300.00 Dividend Paid -$14,600.00 Cash paid for bond repayment ($30,100 - $10,800) -$19,300.00 Net Cash Provided by financing activities -$28,600.00 Net Increase / (Decrease) in Cash -$600.00 Cash balance at beginning of year $17,300.00 Cash balance at end of year $16,700.00Related Questions
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