September 2023 Lander Inc had the following balance sheet at December 31 2008 LANDER INC Balance Sheet December
2024 Accounting Question Assignment Help
Lander Inc had the following balance sheet at December 31 2008 LANDER INC Balance Sheet December 2023
Lander Inc. had the following balance sheet at December 31, 2008: LANDER, INC. Balance Sheet December 31, 2008 Cash $45,300 Accounts payable $33,800 Accounts receivable $18,900 Bonds payable $35,000 Investments $25,000 Common stock $190,000 Plant assets (net) $78,000 Retained earnings $18,400 Land $110,000 Total Assets $277,200 Total Liabilities & Equity $277,200 During 2009 the following occurred. Lander liquidated its available-for-sale investment portfolio at a loss of $6,500. A tract of land was purchased for $31,000. An additional $20,000 in common stock was issued at par. Dividends totaling $5,000 were declared and paid to stockholders. Net income for 2009 was $29,000, including $7,000 in depreciation expense. Land was purchased through the issuance of $25,000 in additional bonds. At December 31, 009, Cash was $72,650, Accounts Receivable was $35,250, and Accounts Payable was $32,500. Prepare a statement of cash flows for the year 2009 for Lander. Prepare the balance sheet as it would appear at December 31, 2009.