College

We appreciate your visit to AYAYAI INC BALANCE SHEET DECEMBER 31 2019 Assets Amount Liabilities and Equity Amount Cash 21 940 Accounts payable 31 940 Accounts receivable 23 140 Bonds. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!

**AYAYAI INC.**

**BALANCE SHEET**

**DECEMBER 31, 2019**

| Assets | Amount | Liabilities and Equity | Amount |
|-----------------------|---------|-------------------------|---------|
| Cash | $21,940 | Accounts payable | $31,940 |
| Accounts receivable | $23,140 | Bonds payable | $42,940 |
| Investments | $32,000 | Common stock | $101,940|
| Plant assets (net) | $82,940 | Retained earnings | $25,140 |
| Land | $41,940 | | |
| **Total** | $201,960| **Total** | $201,960|

During 2020, the following occurred:

1. Ayayai liquidated its available-for-sale debt investment portfolio at a loss of $6,940.
2. A tract of land was purchased for $39,940.
3. An additional $30,000 in common stock was issued at par.
4. Dividends totaling $11,940 were declared and paid to stockholders.
5. Net income for 2020 was $36,940, including $13,940 in depreciation expense.
6. Land was purchased through the issuance of $31,940 in additional bonds.
7. At December 31, 2020, Cash was $72,140, Accounts Receivable was $43,940, and Accounts Payable was $41,940.

**Task:**

In an Excel spreadsheet, prepare a statement of cash flows for the year 2020 for Ayayai Inc. Also, prepare the balance sheet as it would appear as of December 31, 2020.

Answer :

Answer:

(a) Increase in cash = $50,200

(b) Total Assets = Liabilities and Stockholders' Equity = $298,900

Explanation:

Note: There are errors as date and name inconsistency in the requirements in this question. The requirements are therefore correctly stated before answering the question as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

The explanation of the answer is now provided as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

Note: See part (a) of the attached excel file for the statement of cash flows for the year 2020 for Ayayai Inc.

In the attached excel file, we have:

Increase in cash = $50,200

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

Note: See part (b) of the attached excel file for the balance sheet as it would appear as of December 31, 2020.

In the attached excel file, we have:

Total Assets = Liabilities and Stockholders' Equity = $298,900

Thanks for taking the time to read AYAYAI INC BALANCE SHEET DECEMBER 31 2019 Assets Amount Liabilities and Equity Amount Cash 21 940 Accounts payable 31 940 Accounts receivable 23 140 Bonds. We hope the insights shared have been valuable and enhanced your understanding of the topic. Don�t hesitate to browse our website for more informative and engaging content!

Rewritten by : Barada