A car of mass 1120 kg is speeding up on level ground. Its position as a function of time is x(t)=A(t/t1 + t^4/t1^4) where A=966 m and t1=71 s.
November 21, 2020
Research Activity
November 21, 2020

Problem Four A comparative balance sheet for Roxanne Company is presented below:

Problem Four
A comparative balance sheet for Roxanne Company is presented below:
Comparative Balance Sheet
                                                                                      2017              2016
Assets
Cash                                                                       $ 39,000       $ 31,000
Accounts receivable (net)                                         80,000           60,000
Prepaid insurance                                                     22,000           17,000
Land                                                                           18,000           40,000
Equipment                                                                  70,000           60,000
Accumulated depreciation                                      (20,000)       (13,000)
      Total Assets                                                    $209,000       $195,000
Liabilities and Stockholders’ Equity
Accounts payable                                                  $ 11,000        $  6,000
Bonds payable                                                           27,000           19,000
Common stock                                                        140,000         115,000
Retained earnings                                                    31,000          55,000
      Total liabilities and stockholders’ equity        $209,000       $195,000
Additional information:
1.  Net loss for 2017 is $20,000.
2.  Land was sold for cash at a loss of $10,000. This was the only land transaction during the year.
3.  Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash.
4.  $12,000 of bonds was retired during the year at carrying (book) value.
5.  Equipment was acquired for common stock. The fair market value of the stock at the time of the exchange was $25,000.
Instructions:
1. Prepare Operating Activities for SCF, using Indirect Method.
2. Using the data above prepared a correct form the classified balance sheet for 2017.

 

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