Math question.

[Ishbar]

I'm having difficulty with the following...

The comparative balance sheet of Nance Company, for the current year and the preceding year ended Dec, 31, 20-, appears below in condensed form

Use Indirect Method


........................................Current year.............................................. ......... Preceding Year
Cash ....................................68,000........ .................................................. ......42,500
Accounts Receivable (Net)...... 61,000............................................ ................... 70,200
Inventories............................ 121,000........................................... .................. 105,000
Investments ........................................................ ............................................. 100,000
Equipment............................. 515,000........................................... ................... 425,000
Accumulated depreciation-equipment (153,000)......................................... ........ (175,000)

.........................................$612,000. .................................................. ............. $567,700



Accounts payable.................59,750.................... ................................................. 47,250
Bonds Payable, due 2000 ...................................................... ................................ 75,000
Common Stock, $20 par ......375,000..................................... .............................. 325,000
Premium on common stock... 50,000............................................ ......................... 25,000
Retained Earnings................ 127,250........................................... ......................... 95, 450

.......................................$612,000... .................................................. .................. $567,700


Additional data for the current year are as follows:

A) Net Income $71,800
B) Depreciation reported on Income statement $38,000
C) Fully depreciated equipment costing $60,000 was scrapped, no salvage, and equipment was purchased for $150,000
D) Bonds Payable for $75,000 were retired by payment at their face amount
E) 2,500 shares of common stock were issued at 30 for each
F) Cash dividends declared and paid, $40,000
G) Investments of $100,000 were sold for $125,000
__________________

[l)ragon]

I'm having difficulty with the following...

The comparative balance sheet of Nance Company, for the current year and the preceding year ended Dec, 31, 20-, appears below in condensed form

Use Indirect Method


........................................Current year.............................................. ......... Preceding Year
Cash ....................................68,000........ .................................................. ......42,500
Accounts Receivable (Net)...... 61,000............................................ ................... 70,200
Inventories............................ 121,000........................................... .................. 105,000
Investments ........................................................ ............................................. 100,000
Equipment............................. 515,000........................................... ................... 425,000
Accumulated depreciation-equipment (153,000)......................................... ........ (175,000)

.........................................$612,000. .................................................. ............. $567,700



Accounts payable.................59,750.................... ................................................. 47,250
Bonds Payable, due 2000 ...................................................... ................................ 75,000
Common Stock, $20 par ......375,000..................................... .............................. 325,000
Premium on common stock... 50,000............................................ ......................... 25,000
Retained Earnings................ 127,250........................................... ......................... 95, 450

.......................................$612,000... .................................................. .................. $567,700


Additional data for the current year are as follows:

A) Net Income $71,800
B) Depreciation reported on Income statement $38,000
C) Fully depreciated equipment costing $60,000 was scrapped, no salvage, and equipment was purchased for $150,000
D) Bonds Payable for $75,000 were retired by payment at their face amount
E) 2,500 shares of common stock were issued at 30 for each
F) Cash dividends declared and paid, $40,000
G) Investments of $100,000 were sold for $125,000
__________________

a: + Receivable {+ to cash}
b: - Receivable {- to cash}
c: - Receivable {- equipment value} (if item was a metal could be a small + Receivable, via scrapyard) / + Payable {or - Cash?, + to baught new shity equipment}
d: + Payable {- Cash} / (might have to ask your teacher, if its allready payed might just be a direct minus to your cash value in recieveable)
e: + Receivable {+ Investments (2500*$30)}
f: + Payable {+ cash, but(same thing as d:)}
g: + Receivable {- Invesments, + Cash}

that what your looking for?
edit: also not realy a math question more over accounting practice.
edit2: {reasons}