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  • Ochoa Inc Had The Following Condensed Balance Sheet at The PDF

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    Anbu jaromia
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    Ochoa Inc. had a condensed balance sheet at the end of 2009. In 2010, the company purchased land for $11,000, retired $20,000 in bonds payable, issued $10,000 in additional stock, paid $9,375 in dividends, and had net income of $30,250 after $13,500 in depreciation. The company also purchased land for $22,500 using bonds and sold investments for $12,875, realizing a $2,000 gain.

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    Ochoa Inc. had a condensed balance sheet at the end of 2009. In 2010, the company purchased land for $11,000, retired $20,000 in bonds payable, issued $10,000 in additional stock, paid $9,375 in dividends, and had net income of $30,250 after $13,500 in depreciation. The company also purchased land for $22,500 using bonds and sold investments for $12,875, realizing a $2,000 gain.

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    36 views1 page

    Ochoa Inc Had The Following Condensed Balance Sheet at The PDF

    Uploaded by

    Anbu jaromia
    Ochoa Inc. had a condensed balance sheet at the end of 2009. In 2010, the company purchased land for $11,000, retired $20,000 in bonds payable, issued $10,000 in additional stock, paid $9,375 in dividends, and had net income of $30,250 after $13,500 in depreciation. The company also purchased land for $22,500 using bonds and sold investments for $12,875, realizing a $2,000 gain.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Ochoa Inc had the following condensed balance sheet at

    the
    Ochoa Inc. had the following condensed balance sheet at the end of operations for 2009.
    During 2010 the following occurred.1. A tract of land was purchased for $11,000.2. Bonds
    payable in the amount of $20,000 were retired at par.3. An additional $10,000 in capital stock
    was issued at par.4. Dividends totaling $9,375 were paid to stockholders.5. Net income was
    $30,250 after deducting depreciation of $13,500.6. Land was purchased through the issuance
    of $22,500 in bonds.7. Ochoa Inc. sold part of its investment portfolio for $12,875. This
    transaction resulted in a gain of $2,000 for the company. The company classifies the
    investments as available-for-sale.8. Both current assets (other than cash) and current liabilities
    remained at the same amount.(a) Prepare a statement of cash flows for 2010 using the indirect
    method.(b) Prepare the condensed balance sheet for Ochoa Inc. as it would appear at
    December 31,2010.View Solution:
    Ochoa Inc had the following condensed balance sheet at the
    SOLUTION-- http://accountinginn.online/downloads/ochoa-inc-had-the-following-condensed-
    balance-sheet-at-the/

    For Solutions Visit accountinginn.online


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