The following are Bonita Corp.\'s comparative balance sheet accounts at December

Question

The following are Bonita Corp.'s comparative balance sheet accounts at December 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017 COMPARATIVE BALANCE SHEETS Increase (Decrease) $127,300 2016 $694,000 1,124,400 1,158,200 (33,800) 1,702,600 2,951,400 (1,174,500) (1,048,100) (126,400) 2017 $821,300 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Investment in Myers Co Loan receivable 150,000 349,000 1,852,600 3,300,400 273,800 312,300 250,100 $6,486,600 38,500 250,100 $754,700 Total assets $5,731,900 Accounts payable Income taxes payable Dividends payable Lease liabilility Common stock, $1 par Paid-in capital in excess of par-common stock Retained earnings $1,019,600 29,800 79,400 408,500 500,000 $959,800 50,100 99,100 $59,800 (20,300) (19,700) 408,500 500,000 ,504,000 ,504,000 2,945,300 2,618,900 $6,486,600 $5,731,900 326,400 $754,700 Total liabilities and stockholders' equity Additional information:

Explanation / Answer

Bonita Corp's For the year ended December 31, 2017 Statement of Cash Flows © www.excel-skills.com 2017 Cash flows from operating activities Profit before taxation     405,800.00 Adjustments for: Depreciation     126,400.00 Profit / (Loss) on the sale of equipment      (1,500.00) Working capital changes: (Increase) / Decrease in trade and other receivables       33,800.00 (Increase) / Decrease in inventories (150,000.00) Increase / (Decrease) in trade payables       59,800.00 Cash generated from operations     474,300.00 Income taxes paid    (20,300.00) Dividends paid    (99,100.00) Net cash from operating activities (119,400.00) Cash flows from investing activities Purchase of equipment (349,000.00) Proceeds from sale of equipment       39,900.00 Investment in Myers & Co    (38,500.00) Net cash used in investing activities (467,000.00) Cash flows from financing activities Payment of lease    (59,800.00) Receipt of Loan       59,000.00 Net cash used in financing activities (467,800.00) Net increase in cash and cash equivalents     127,300.00 Cash and cash equivalents at beginning of period     694,000.00 Cash and cash equivalents at end of period     821,300.00

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.