If you don't no then don't try to solve . The following are condensed...

80.2K

Verified Solution

Question

Accounting

imageIf you don't no then don't try to solve .

The following are condensed comparative financial statements of Nero Corporation for the three years ended December 31, 2019, 2020, and 2021. Nere Malance Men Al December Here Corporation income statement For Year Ended Anett 2001 0 $14 Sales Current Cash Arabeceive Inventory Preden MUS 50 541 SN 2015 $120 66 121 210 994 50 SAS 572 SAB 5 5) $144 19 Costed 52 Sin 561 SIZ M * sap S41 934 $14 Gross profit Seting and an Income from operations Interesten neme before in tem Income are Net income 9 04 39 Non- Property, plant annet Tutalanes 312 SIN 32 991 $123 200 32 512 tities and stockholder Current Accounts payable Provom honcurrent on 54 SS $32 $34 SO 513 SA $20 30 $ 596 Commons Betained Tot and stockholders equity 5140 SHO 519 $23 % The following additional information is available: 1. All sales are on credit; credit terms are net 60 days after invoice date. 2. Twenty shares of common stock were outstanding in years 2019 and 2020. On April 1, 2021, an additional 30 shares of common stock were issued for $144 cash in total. 3. The accounts receivable balance at January 1, 2019 was $19. 4. The inventory balance at January 1, 2019 was $24. 5. The net capital assets balance at January 1, 2019 was $91. 6. The total assets balance at January 1, 2019 was $165. 7. The total stockholders' equity balance at January 1, 2019 was $101. 8. Dividends of $8 were declared in 2019. No dividends were declared in Current Accounts payable Provisions Non-current bonds payable $72 524 SH $156 $20 40 560 $96 Common Stock Retained Earnings Tatal lab and stockholders' equity 596 $19 $123 $224 The following additional information is available: 1. All sales are on credit; credit terms are net 60 days after 2. Twenty shares of common stock were outstanding in yea 2020. On April 1, 2021, an additional 30 shares of com issued for $144 cash in total. 3. The accounts receivable balance at January 1, 2019 was 4. The inventory balance at January 1, 2019 was $24. 5. The net capital assets balance at January 1, 2019 was $9 6. The total assets balance at January 1, 2019 was $165. 7. The total stockholders' equity balance at January 1, 2019 8. Dividends of $8 were declared in 2019. No dividends wer 2020 and 2021. 9. Interest has been paid on the bonds each year and is inclu interest expense

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students