Following are selected balance sheet accounts of Allman Bros. Corp. at December 31, 2014 and...
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Accounting
Following are selected balance sheet accounts of Allman Bros. Corp. at December 31, 2014 and 2013, and the increases or decreases in each account from 2013 to 2014. Also presented is selected income statement information for the year ended December 31, 2014, and additional information.
Selected balance sheet accounts
Assets
2014
2013
Increase (Decrease)
Accounts receivable
$33,540
$23,280
$10,260
Property, plant, and equipment
277,720
247,550
30,170
Accumulated depreciationplant assets
(178,020
)
(166,120
)
(11,900
)
Liabilities and stockholders equity
2014
2013
Increase
Bonds payable
$ 49,260
$45,910
$3,350
Dividends payable
8,290
5,110
3,180
Common stock, $1 par
21,750
19,230
2,520
Additional paid-in capital
9,530
3,160
6,370
Retained earnings
103,010
91,190
11,820
Selected income statement information for the year ended December 31, 2014
Sales revenue
$155,040
Depreciation
38,660
Gain on sale of equipment
15,420
Net income
31,250
Additional information:
1.
During 2014, equipment costing $44,130 was sold for cash.
2.
Accounts receivable relate to sales of merchandise.
3.
During 2014, $24,540 of bonds payable were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium.
Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items.
Answer & Explanation
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