# The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...

###### Question:

The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows:

Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows:

A. Net income, $190,000. B. Depreciation reported on the income statement,$115,000.

C. Equipment was purchased at a cost of $395,000 and fully depreciated equipment costing$75,000 was discarded, with no salvage realized.

D. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty.

E. 40,000 shares of common stock were issued at $15 for cash. F. Cash dividends declared and paid,$50,000.

Complete the work sheet for statement of cash flow:

We were unable to transcribe this image
YELLOW DOG ENTERPRISES INC. Spreadsheet (Work Sheet) for Statement of Cash Flows For the Year Ended December 31, 20Y8 Balance, Transactions Balance, Dec. 31, 20Y7 100,000 300,000 400,000 10,000 750,000 (160,000) (90,000) (400,000) (200,000) (100,000) Credit Dec. 31, 20Y8 80,000 275,000 510,000 15,000 1,070,000 (200,000) (100,000) Debit Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accum. depr. equipment Accounts payable Mortgage note payable Common stock, $10 par Paid-in capital in excess of par Retained earnings Totals Operating activities: (600,000) (300,000) Net income Depreciation Decrease in accounts receivable Increase in inventory Increase in prepaid expenses Increase in accounts payable Investing activities: Purchase of equipment Financing activities: Payment of cash dividends Sale of common stock Payment of mortgage note payable Net change in cash Totals ## Answers #### Similar Solved Questions 1 answer ##### A horizontal pipe widens from a radius of 0.130 m to 0.280 m. If the speed... A horizontal pipe widens from a radius of 0.130 m to 0.280 m. If the speed of the water is 1.50 m/s in the larger pipe, what is the speed in the smaller pipe (in m/s)? m/s... 1 answer ##### Answer the questions: Question 1 Transcription begins at the..... a. operon o b. repressor c. genome... Answer the questions: Question 1 Transcription begins at the..... a. operon o b. repressor c. genome 17d. promoter Question 2 0.5 points Save RNA is synthesized on a DNA template in a process called replication, DNA polymerase translation, RNA polymerase transcription, RNA polymerise t ... 1 answer ##### Assume the following information: Per Unit$40 15 Amount $300,000 112,500 187,500 161,000$ 26,500 Sales...
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