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
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[quote author=Ishbar link=topic=17936.msg182596#msg182596 date=1241411474]
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
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[/quote]
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}