Following are selected balance sheet accounts of Allman Bros. Corp. at December 31, 2014 and...
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Accounting
Following are selected balance sheet accounts of Allman Bros. Corp. at December 31, 2014 and 2013, and the increases or decreases in each account from 2013 to 2014. Also presented is selected income statement information for the year ended December 31, 2014, and additional information.
Selected balance sheet accounts | |||||||||
Assets | 2014 | 2013 | Increase (Decrease) | ||||||
Accounts receivable | $33,540 | $23,280 | $10,260 | ||||||
Property, plant, and equipment | 277,720 | 247,550 | 30,170 | ||||||
Accumulated depreciationplant assets | (178,020 | ) | (166,120 | ) | (11,900 | ) | |||
Liabilities and stockholders equity | 2014 | 2013 | Increase | ||||||
Bonds payable | $ 49,260 | $45,910 | $3,350 | ||||||
Dividends payable | 8,290 | 5,110 | 3,180 | ||||||
Common stock, $1 par | 21,750 | 19,230 | 2,520 | ||||||
Additional paid-in capital | 9,530 | 3,160 | 6,370 | ||||||
Retained earnings | 103,010 | 91,190 | 11,820 | ||||||
Selected income statement information for the year ended December 31, 2014 | |||||||||
Sales revenue | $155,040 | ||||||||
Depreciation | 38,660 | ||||||||
Gain on sale of equipment | 15,420 | ||||||||
Net income | 31,250 |
Additional information:
1. | During 2014, equipment costing $44,130 was sold for cash. | |
2. | Accounts receivable relate to sales of merchandise. | |
3. | During 2014, $24,540 of bonds payable were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium. |
Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items.
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