Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. swifty corporation's comparative balance sheets ar

Swifty Corporation's comparative balance sheets are presented below. SWIFTY CORPORATION Comparative Balance Sheets December 31...

60.1K

Verified Solution

Question

Accounting

image
image
Swifty Corporation's comparative balance sheets are presented below. SWIFTY CORPORATION Comparative Balance Sheets December 31 2022 2021 Cash $ 14,800 $ 10,300 Accounts receivable 21,500 23.500 Land 20,300 26.400 70,000 70.000 Buildings Accumulated depreciation-buildings (14.600) ( 10.400) Total $ 112,000 $ 119.800 $ 12.200 $ 28,600 Accounts payable 74,400 69.500 Common stock Retained earnings 25,400 21.700 Total $ 112,000 $ 119.800 Additional information: 1 2 Net income was $ 22.900. Dividends declared and paid were $ 19 200. No noncash investing and financing activities occurred during 2022 The land was sold for cash of $ 4.500. 3 Prepare a statement of cash flows for 2022 using the Indirect method. Show mount the cash with the -15.000 15.0001 SWIFTY CORPORATION Statement of Cash Flows-Indirect Method Port 1.2002 NIC alone V 14700 come to recondent inconto Net Cuired by our Odont V 45:00 Lollo V 750 th V 200 V 20 NetCash Provided Operating Activ 179200 CA V V V V $ eTextbook and Media Catest Fresh

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

Finance
1.2K views

You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner (leasing is...

Biology
1.2K views

In Drosophila (fruit flies) the genes how, dumpy and ebony are located on chromosome 3. LOF =...

Biology
1.2K views

3 2 Which of the following is not a characteristic of a sonnet It has...

Basic Math
1.2K views

Compute the cost assigned to ending inventory using LIFO Note Round your average cost per...

Algebra
1.2K views

Problem 6 Let S 1 4x 1 3x2 Which of the following polynomials could be...

Accounting
1.2K views

On 1, Timmy Manufacturing issued par value 6%, 5-year bonds (i.e., there were 4,800 of...

Accounting
1.2K views

The general ledger of Ryan Racing at January 1,2024, includes the following account balances: ...

Accounting
1.2K views

Lincoln Corp. - Income Statement as of December 31st, 20X4 Revenue $ 5,000...

Accounting
1.2K views

! Required information [The following information applies to the questions displayed below.] Warnerwoods...

Accounting
1.2K views

A New York City daily newspaper called Manhattan Today charges an annual subscription fee of...

Accounting
1.2K views

end of year. purchase price 0 (1,000,000) 1 110,000 2 115,000 3 120,000 4 125,000...

Finance
1.2K views

PARTS: A: Assume that a $1,000,000 par value, semiannual coupon US Treasury note with...