1 answer

Part 1: Part 2: Required information The following information applies to the questions displayed below.) The...

Question:

Required information The following information applies to the questions displayed below.) The following financial statements

Additional Information 1. Sold land that cost $35,300 for $39,300. 2. Sold equipment that cost $27,100 and had accumulated de

Part 1:

Statement of Cash Flows For the Year Ended December 31, Year 3 Cash flows from operating activities: Cash Receipts from: Tota b-1. What is the cost per share of the treasury stock? b-2. What was the issue price per share of the preferred stock? b-3. W

Part 2:

Required information The following information applies to the questions displayed below.) The following financial statementsAdditional Information 1. Sold land that cost $40,000 for $44,000. 2. Sold equipment that cost $30,000 and had accumulated dea. Prepare the statement of cash flows for Blythe Industries using direct method. (Amounts to be be indicated by a minus signb-1. What is the cost per share of the treasury stock? b-2. What was the issue price per share of the preferred stock? b-3. W

Required information The following information applies to the questions displayed below.) The following financial statements and information are available for Zachary Industries Inc. Balance sheets As of December 31 Year 3 Year 2 $ Assets Cash Accounts receivable Inventory Marketable securities (available for sale Equipment Nccumulated depreciation Land 162,900 106,000 188, 900 297,800 690,200 (306,800) 82,700 1,221,700 $ 123,400 87,500 174,500 222.900 493,200 (237,000) 118,000 982.500 $ 39,000 229,700 206,000 474,700 68,900 252.900 103,000 424.800 Total assets Liabilities and equity Liabilities Accounts payable (inventory) Notes payable-Long-term Bonds payable Total liabilities Stockholders' equity Common stock, no par Preferred stock, $50 par Paid-in capital in excess of par-Preferred stock Total paid-In capital Retained earnings Less: Treasury stock Total stockholders' equity Total liabilities and stockholders' equity 243,000 113,300 37,200 393,500 391,600 (39, 100) 747,000 $1.221,700 203,300 103,300 31,200 337,800 268,000 148, 100) 557,700 S 982.500 $1,052,700 (769, 100) 283,600 Income Statement For the Year Ended December 31, Year 3 Sales revenue Cost of goods sold Gross profit Operating expenses Supplies expense $23,300 Salaries expense 74,700 Depreciation expense 93,100 Total operating expenses Operating income Nonoperating items Interest expense Gain from the sale of marketable securities Gain from the sale of land and equipment Net income (191, 100) 92,500 (14,200) 35,300 21,400 135,000 $
Additional Information 1. Sold land that cost $35,300 for $39,300. 2. Sold equipment that cost $27,100 and had accumulated depreciation of $23,300 for $21,200. 3. Purchased new equipment for $224,100. 4. Sold marketable securities that were classified as available-for-sale and that cost $46,700 for $82,000. 5. Purchased new marketable securities, classified as available-for-sale, for $121,600. 6. Paid $23,200 on the principal of the long-term note. 7. Paid off a $103,000 bond issue and issued new bonds for $206,000. 8. Sold 100 shares of treasury stock at its cost. 9. Issued some new common stock. 10. Issued some new $50 par preferred stock. 11. Pald dividends. (Note: The only transactions to affect retained earnings were net income and dividends.)
Statement of Cash Flows For the Year Ended December 31, Year 3 Cash flows from operating activities: Cash Receipts from: Total cash inflows Cash payments for Total cash outflows Cash flows from investing activities: Cash flows from financing activities: Ending cash balance
b-1. What is the cost per share of the treasury stock? b-2. What was the issue price per share of the preferred stock? b-3. What was the book value of the equipment sold? b-1. Cost per share of the treasury stock b-2. Issue price of the preferred stock b-3. Book value of equipment per share
Required information The following information applies to the questions displayed below.) The following financial statements and information are available for Blythe Industries Inc. Balance Sheets As of December 31 Year 3 Year 2 $ Assets Cash Accounts receivable Inventory Marketable securities (available for sale) Equipment Accumulated depreciation Land 160,200 103,200 186,400 284,000 650.000 (310,000) 80,000 1,153.800 $ 120,600 85,000 171.900 220,000 490.000 (240,000) 120,000 967,400 $ 36, 400 230,000 200,000 466,400 66,200 250,000 100,000 416,200 Total assets Liabilities and equity Liabilities Accounts payable (inventory) Notes payable Long-term Bonds payable Total liabilities Stockholders' equity Common stock, no par Preferred stock, $50 par Paid-in capital in excess of par-Preferred stock Total paid-In capital Retained earnings Less Treasury stock Total stockholders' equity Total liabilities and stockholders' equity 240,000 110,000 200,000 100,000 26,800 384,400 333,000 (30,000) 687,400 $1,153,800 326, 800 264,400 40,000) 551,200 $967.400 $1,050,000 (766,500) 283,500 Income Statement For the Year Ended December 31, Year 3 Sales revenue Cost of goods sold Gross profit Operating expenses Supplies expense $ 20,400 Salaries expense 92.000 Depreciation expense 90.000 Total operating expenses Operating income Nonoperating items Interest expense Gain from the sale of marketable securities Gain from the sale of land and equipment Net income (202,400) 81, 100 (16,000) 30,000 12,000 107,100 $
Additional Information 1. Sold land that cost $40,000 for $44,000. 2. Sold equipment that cost $30,000 and had accumulated depreciation of $20,000 for $18,000. 3. Purchased new equipment for $190,000. 4. Sold marketable securities that were classified as available-for-sale and that cost $40,000 for $70,000. 5. Purchased new marketable securities, classified as available-for-sale, for $104,000. 6. Paid $20,000 on the principal of the long-term note. 7. Paid off a $100,000 bond issue and issued new bonds for $200,000. 8. Sold 100 shares of treasury stock at its cost. 9. Issued some new common stock. 10. Issued some new $50 par preferred stock. 11. Pald dividends. (Note: The only transactions to affect retained earnings were net income and dividends.)
a. Prepare the statement of cash flows for Blythe Industries using direct method. (Amounts to be be indicated by a minus sign.) BLYTHE INDUSTRIES, INC. Statement of Cash Flows For the Year Ended December 31, Year 3 Cash flows from operating activities: Cash Receipts from: $ Total cash inflows Cash payments for Total cash outflows Cash flows from investing activities: Cash flows from financing activities: Ending cash balance
b-1. What is the cost per share of the treasury stock? b-2. What was the issue price per share of the preferred stock? b-3. What was the book value of the equipment sold? b-1. Cost per share of the treasury stock b-2. Issue price of the preferred stock b-3. Book value of equipment per share

Answers

Zachary Industries

Cash Flow Statement
Direct Method
Cash flow from Operating Activities
Cash collected from customers $   10,34,200.00 =1052700+87500-106000
Cash paid for inventory $    -8,13,400.00 =-(769100+68900-39000+188900-174500)
Cash paid for Supplies $       -23,300.00
Cash paid for Salaries $       -74,700.00
Cash paid for interest $       -14,200.00
Cash from operating activities $       1,08,600.00
Cash flow from Investing Activities
Sale of Land $         39,300.00
Sale of Equipment $         21,200.00
Purchase of Equipment $    -2,24,100.00
Sale of marketable securities $         82,000.00
Purchase of marketable securities $    -1,21,600.00
Cash used in investing activities $     -2,03,200.00
Cash flow from Financing Activities
Issue of Common stock $         39,700.00 =243000-203300
Issue of Preferred stock $         16,000.00 =113300+37200-103300-31200
Payment of Long term notes payable $       -23,200.00
Issue of Bonds $     2,06,000.00
Repayment of bonds $    -1,03,000.00
Sale of Treasury Stock $         10,000.00 =48100-38100
Dividend Paid $       -11,400.00 =-(268000+135000-391600)
Cash from financing activities $       1,34,100.00
Net Increase in cash $          39,500.00
Opening Balance of Cash $       1,23,400.00
Closing Balance of Cash $       1,62,900.00

b. Cost per treasury Stock = $10000 / 100 = $100 per share

Number of shares issued = $10000/$50 = 200 shares
Issue price of preferred stock = $16000 / 200 = $80 per share

Book Value of Equipment sold = $27100-23300 = $3800

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