Font The Balance Sheet accounts for Cheryll Company, a calendar year company con

Question

Font The Balance Sheet accounts for Cheryll Company, a calendar year company contain the following amounts at the end of Year 1 and Year 2 Assets Year 1 32.000 24,000 42,000 10,000 80,000 (64.000) 20.000 Year2 Cash Accounts Receivable Net Inventory Prepaid Expenses Property. Plant And Equipment Accumulated Depreciation Long-Term Investments 46.000 18,000 24,000 12,000 110,000 (72.000) Total $144,000 $158,000 Accounts Payable Accrued Liabilities Bonds Payable 28.000 15,000 43,000 11.000 19,000 52,000 1. E Total Liabilities 86,000 82,000 10,000 _18000 000 10,000 66,000 76.000 Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities And

Explanation / Answer

(Decrease) in Accounts receivable = 6,000 (24,000- 18,000 )

(Decrease) in inventory = 18,000 (42,000- 24,000)

Increase in prepaid Expenses = (2000) (10,000-12,000)

Purchase of Equipment = (30,000)

Issuance of Bonds = 9,000 (52,000-43,000)

Payment of cash dividends = (16,000)

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