Diaz Company Had the Following Comparative Balance Sheet Information for 2014

question 24

Essay

Diaz Company had the following comparative balance sheet information for 2014 and 2013at the end of Year 2 and Year 1: $\begin{array}{l}\hline \quad \quad \quad \quad \quad \quad \quad \quad \quad \text {Diaz Company } \\\hline \quad \quad \quad \quad \quad \quad \text {Comparative Balance Sheets } \\\begin{array}{|l}\hline \\\hline \\\hline \text { Cash}\\\hline \text { Accounts receivable}\\\hline \text { Inventory}\\\hline \text { Prepaid insurance}\\\hline \text { Property, plant and equipment}\\\hline \text { Accumulated depreciation}\\\hline \text { Total}\\\hline \\\hline \text { Accounts payable}\\\hline \text { Bonds payable}\\\hline \text { Common stock}\\\hline \text { Retained earnings}\\\hline \text { Total}\\\hline \end{array}\begin{array}{|l|}\hline 2014\\\hline\\\hline \$ 30,000 \\\hline 48,000 \\\hline 158,000 \\\hline 10,000 \\\hline 70,000 \\\hline\underline {(14,000) }\\ \hline \underline {\$ 302,000 }\\ \hline \\\hline \$14,000 \\\hline 90,000 \\\hline 140,000 \\\hline \underline {58,000} \\ \hline \underline {\$ 302,000 }\\\hline\end{array}\begin{array}{l|}\hline 2013 \\\hline \\\hline 28,000 \\\hline 50,000 \\\hline 156,000 \\\hline 8,000 \\\hline 60,000 \\\hline\underline { (10,000)} \\\hline \underline { 292,000} \\\hline \\\hline 18,000 \\\hline 120,000 \\\hline 120,000 \\\hline \underline { 34,000} \\\hline \underline { 292,000} \\\hline\end{array}\end{array}$ Diaz reported net income for 2014 Year 2 of $40,000.No property,plant,& equipment was disposed of during the year.Diaz uses the indirect method to prepare the statement of cash flows.

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Definitions:

Preganglionic Fibers

Nerve fibers originating in the brain or spinal cord that terminate in a ganglion, where they synapse with postganglionic neurons.

Postganglionic Fibers

Nerve fibers that transmit signals from a ganglion in the autonomic nervous system to the target organ.

Lateral Horn

A region in the spinal cord that contains nerve cells contributing to the autonomic nervous system.

Autonomic Ganglia

Ganglia containing the nerve cell bodies of the autonomic division of the nervous system.