. Preparing the Financial Statements Listed below are items reported on the financial statements of the Huntington Company as of June 30: Cash flow provided by operating activities... $21,000 Cash, beginning-of-year. Cash, end-of-year... Inventory.... Accounts receivable Other long-term assets... Cash flow from financing activities... Current liabilities.. Long-term liabilities. Intangible assets.. Common stock. Retained earnings $17,500 1,300 22,000 9,000 16,000 5,500 12,200 18,250 9,500 Cash flow from investing activities Other current assets.. (15,300) 1,500 51,000 Property, plant and equipment 40,000 REQUIRED Prepare a classified balance sheet as of June 30 and statement of cash flows for the current year.
. Preparing the Financial Statements Listed below are items reported on the financial statements of the Huntington Company as of June 30: Cash flow provided by operating activities... $21,000 Cash, beginning-of-year. Cash, end-of-year... Inventory.... Accounts receivable Other long-term assets... Cash flow from financing activities... Current liabilities.. Long-term liabilities. Intangible assets.. Common stock. Retained earnings $17,500 1,300 22,000 9,000 16,000 5,500 12,200 18,250 9,500 Cash flow from investing activities Other current assets.. (15,300) 1,500 51,000 Property, plant and equipment 40,000 REQUIRED Prepare a classified balance sheet as of June 30 and statement of cash flows for the current year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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P4-4A. Preparing the Financial Statements Listed below are items reported on the financial statements of the Huntington Company as of June 30:
Prepare a classified
Transcribed Image Text:**P4-4A. Preparing the Financial Statements**
Listed below are items reported on the financial statements of the Huntington Company as of June 30:
- Cash flow provided by operating activities: $21,000
- Cash, beginning-of-year: $9,000
- Cash, end-of-year: $16,000
- Inventory: $5,500
- Accounts receivable: $12,200
- Cash flow from investing activities: ($15,300)
- Other current assets: $1,500
- Property, plant and equipment: $40,000
- Other long-term assets: $17,500
- Cash flow from financing activities: $1,300
- Current liabilities: $22,000
- Long-term liabilities: $18,250
- Intangible assets: $9,500
- Common stock: $51,000
- Retained earnings: ?
**REQUIRED**
Prepare a classified balance sheet as of June 30 and a statement of cash flows for the current year.
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