Presented below is information from the Balance Sheet for Accounting Corporation as of December 31, 2025. 2025 2024 Change Cash $ 37,000 $ 31,000 6,000 Accounts Receivable (net) 80,000 60,000 20,000 Prepaid insurance 22,000 17,000 5,000 Land 18,000 40,000 (22,000) Equipment 70,000 60,000 10,000 Accumulated Depreciation-equipment (20,000) (13,000) 7,000 Accounts Payable 12,000 6,000 6,000 Bonds Payable 27,000 19,000 8,000 Common stock, $1 par 140,000 115,000 25,000 Retained earnings 28,000 55,000 (27,000) Additional information: Net loss for 2025 is $12,000. Net sales for 2025 are $250,000. Cash dividends of $15,000 were declared and paid in 2025. Land was sold for $20,000 cash.. This was the only land transaction during the year. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. $12,000 of bonds were retired during the year at carrying (book) value. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $25,000. Depreciation Expense for 2025 was $17,000. Prepare the statement of cash flow for the year ended December 31, 2025, using the indirect method.
Poolside LLP decided to repurchase shares of their own stock…
Poolside LLP decided to repurchase shares of their own stock, with cash, on December 31, 2025. The company purchased 3,000 shares of stock with a par value of $10 per share. The repurchase price was $15 per share. Prepare the journal entry for Poolside to repurchase these shares of stock on December 31, 2025. Answer should be expressed as : DR (ACCOUNT NAME) $X,XXX CR (ACCOUNT NAME) $X,XXX No dates or explanations are needed.
A treaty is an international agreement entered by the United…
A treaty is an international agreement entered by the United States that requires presidential negotiation with other nation(s), consent by two-thirds of the Senate, and final ratification by the president
The sign charts below give information about the first and s…
The sign charts below give information about the first and second derivative of some function . At which input value is the graph of increasing and concave up?
I have shown my blank scratch paper, front and back, to the…
I have shown my blank scratch paper, front and back, to the camera. (If not, do it now). I understand that my exam session, including webcam and computer screen, will be recorded by Honorlock and reviewed by my instructor. (These recordings are only kept temporarily.) I understand that I may not use a calculator or external resources of any kind. I understand that violating these conditions will cause my exam score to be replaced with a 0.
According to the endosymbiosis theory, what is the origin of…
According to the endosymbiosis theory, what is the origin of chloroplasts?
A mouse has 40 chromosomes (20 chromosomes per set). Even th…
A mouse has 40 chromosomes (20 chromosomes per set). Even though the following conditions are lethal, what would be the total number of chromosomes for an individual with each condition? i) Monosomy 5, ii) Trisomy 7, iii) Tetraploidy
Humans have 23 chromosomes per set. A person with 45 chromo…
Humans have 23 chromosomes per set. A person with 45 chromosomes can be described as being
The first month of the year is _______.
The first month of the year is _______.
This first complex (complex 1) in the electron transport cha…
This first complex (complex 1) in the electron transport chain gets its electrons from what molecule?