Problem 15 Solution 1 Total current assets at the beginning of 20X1 There is insufficient information as figures are provided for the end of 20X1 and 20X2 2 Total net book value of property and equipment at the end of 20X2 5 998 1 300 4 698 3 Net means the allowance for doubtful accounts has been subtracted from accounts receivable 4 Sale of treasury stock during 20X2 Beginning balance purchases ending balance sales 142 50 111 81 5 Money raised by selling common stock Consider both the common stock and additional paid in capital accounts BB Common stock 494 Additional paid in capital 0 Money raised 6 EB 642 1 745 Change 148 1 745 1 893 Amount of money borrowed as long term debt during 20X2 Ending bal beginning bal reclassified borrowed 2 406 920 200 1 686 7 Average selling price per share of common stock during 20X2 Aver SP Money raised answer 5 number of shares sold 1 893 249 193 33 80 8 Net working capital at the end of 20X2 NWC Current assets Current liabilities 1 151 1 198 47 9 Amount of dividends paid during 20X2 Analyze dividends payable account Beg bal div declared ending bal dividends paid 300 450 200 550 10 Net income for 20X2 Analyze retained earnings account Ending bal beg bal dividends declared net income 935 902 450 483