The balance sheet data of Swifty Corporation at the end of 2021 and 2020 follow: Cash Accounts receivable (net) Inventor

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The Balance Sheet Data Of Swifty Corporation At The End Of 2021 And 2020 Follow Cash Accounts Receivable Net Inventor 1 (65.13 KiB) Viewed 10 times

The balance sheet data of Swifty Corporation at the end of 2021 and 2020 follow: Cash Accounts receivable (net) Inventory Prepaid expenses Buildings and equipment Accumulated depreciation-buildings and equipment Land Totals Accounts payable Accrued expenses Notes payable-bank, long-term Mortgage payable Common stock, $10 par Retained earnings (deficit) O $(81000). O $(269000). $(73000). 2021 $ 100000 O $52000. 240000 280000 38000 358000 (73000) 360000 $1303000 $272000 50000 119000 830000 32000 $1303000 2020 $ 139000 181000 179000 110000 298000 (33000) 159000 $1033000 $221000 72000 172000 629000 Land was acquired for $201000 in exchange for common stock, par $201000, during the year; all equipment purchased was for cash. Equipment costing $21000 was sold for $8000; book value of the equipment was $15000 and the loss was reported as an ordinary item in net income. Cash dividends of $28000 were charged to retained earnings and paid during the year; the transfer of net income to retained earnings was the only other entry in the Retained Earnings account. In the statement of cash flows for the year ended December 31, 2021, for Swifty Corporation: The net cash provided (used) by investing activities was (61000) $1033000