Groton Company Comparative Balance Sheet December 31, 2011 and 2010 2011 2010 As
ID: 2540608 • Letter: G
Question
Groton Company Comparative Balance Sheet December 31, 2011 and 2010 2011 2010 Assets Cash Accounts receivable Inventory Prepaid expenses $4 $ 15 318 235 205 12 164 lotal current assets 500 467 436 Property, plant, and equipment Less accumulated depreciation 515 (88) (74) Net property, plant, and equipment 427 362 Long-term investments 28 38 lotal assets $ 955 $ 867 Liabilities and Stockholders' equity Accounts payable Accrued liabilities Income taxes payable $304 228 83 69 73 78 455 204 380 178 lotal current liabilities Bonds payable Total liabilities 659 558Explanation / Answer
Statement of Cash Flow Operating Activities Net Income 65 Adjustment to convert net income to Cash basis Gain on Sales of Investment -8 Loss on Sales of Equipment 7 Depreciation 24 Increase in Account receivable -83 Decrease in Inventory 41 Increase in Prepaid Expense -2 Increase in Account Payable 76 Decrease in Accrude liabilities -10 Increase in income tax Payable 9 54 Net Cash From operating Activities 119 Investing Activities Sale of Investment 38-28+8 18 Sales of Equipment 14 Purchase of Equipment 515+31-436 -110 Net Cash from Investment activities -78 Financing Activities Bond issued 26 Dividend Paid 101+65-127 -39 Repurchase of Stock -39 -52 Increase in cash flow -11 Cash Balance January 1 2011 15 Cash Balance December 31 2012 4
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.