Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Aero Inc. had the following balance sheet at December 31, 2011.

AERO INC.
BALANCE SHEET
DECEMBER 31, 2011
Cash $ 23,210 Accounts payable $ 33,210
Accounts receivable 24,410 Bonds payable 44,210
Investments 32,000 Common stock 103,210
Plant assets (net) 84,210 Retained earnings 26,410
Land 43,210 $207,040
$207,040

During 2012, the following occurred.

1. Aero liquidated its available-for-sale investment portfolio at a loss of $8,210.

2. A tract of land was purchased for $41,210.

3. An additional $30,000 in common stock was issued at par.

4. Dividends totaling $13,210 were declared and paid to stockholders.

5. Net income for 2012 was $38,210, including $15,210 in depreciation expense.

6. Land was purchased through the issuance of $33,210 in additional bonds.

7. At December 31, 2012, Cash was $73,410, Accounts Receivable was $45,210, and Accounts Payable was $43,210.

(a)

Prepare a statement of cash flows for the year 2012 for Aero.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M938663

Have any Question? 


Related Questions in Accounting Basics

Actual revenues and expenditures reported on a budget and

Actual revenues and expenditures reported on a budget and actual comparison schedule should be prepared on the same basis as budgeted revenues and expenditures, even if a cash basis is used.?? Do you agree with this stat ...

1 what are support events2 what are economic agents3 define

1. What are support events? 2. What are economic agents? 3. Define duality. 4. What is view modeling? 5. What is represented by the labeled lines connecting entities in an REA diagram? 6.Why are journals and ledgers not ...

Managerial accounting assignment task- group report

Managerial Accounting Assignment Task- Group Report: "Measuring Performance and Management Control Systems" - A study of Performance Measurement in Australian Public Companies. Outcomes- a) Analyse the roles of cost and ...

Practice questionswhy is a balance sheet claimed to be a

Practice questions: Why is a balance sheet claimed to be a statement of the financial position of a business? What limitations do you think it has?

Assignment discussion-ethical issuesreview the ethical

Assignment: Discussion-Ethical Issues Review the Ethical Issue: Dobbs Wholesale Antiques in chapter 5 (Page 317). address the following in your initial post: 1. Under Dobbs FOB policy, when should the company record a sa ...

Question 1 75000 year needed during retirementretirement

Question 1. $75,000 /year needed during retirement Retirement will last 25 years 30 years until retirement 6.0% return before and during retirement 3.25% inflation rate - Use the present value of an annuity (annuity due) ...

Assignmentnbsp the eatery is a restaurant in dekalb

Assignment  The Eatery is a restaurant in DeKalb, Illinois. It specializes in deluxe sandwiches in a moderate price range. Michael Raye, the manager of The Eatery, has determined that during the last two years the sales ...

Printing and distribution of invoices does not constitute

Printing and distribution of invoices does not constitute an increase in economic resources. On the other hand, can you give examples of what should be included in REA diagram? Remember that REA specifies the domain rule ...

Quantity sold400 units selling price per unit 600 total

Quantity Sold 400 units Selling Price per unit $600 Total variable Costs $160,000 Fixed Costs $50,000 Target Income $90,000 Calculate the following: 1- Contribution margin per unit 2- Total contribution margin 3- Break-e ...

Capital rationingthe availability of funds effects the

Capital Rationing The availability of funds effects the capital budgeting decisions. The amount of funds available for capital expenditures will be either limited or unlimited. Funds would be considered unlimited when a ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate