ACCT405.98A.SU.21 ACCOUNTING FOR EXECUTIVES Assignments Chapter 3 homework [myBusin BuhessCourse A Return to course Statement of Cash Flow. The following is a comparative balance sheet for Shanahan Corp. for 2019. SHANAHAN CORP. Comparative Balance Sheet As of December 31 2019 2018 Assets Cash $32,400 $34,800 Accounts receivable 74,400 66,000 Inventory 36,000 26,400 Prepaid rent 1,200 3,600 Machinery Accumulated depreciation-machinery (144,000) (114,000) 720,000 672,000 Total assets $720,000 $688,800 Liabilities and Stockholders' Equity Accounts payable $54,000 $42,000 Long-term debt Common stock, $2 par 34,800 73,200 240,000 180,000 312,000 312,000 Additional paid in capital Retainod
ACCT405.98A.SU.21 ACCOUNTING FOR EXECUTIVES Assignments Chapter 3 homework [myBusin BuhessCourse A Return to course Statement of Cash Flow. The following is a comparative balance sheet for Shanahan Corp. for 2019. SHANAHAN CORP. Comparative Balance Sheet As of December 31 2019 2018 Assets Cash $32,400 $34,800 Accounts receivable 74,400 66,000 Inventory 36,000 26,400 Prepaid rent 1,200 3,600 Machinery Accumulated depreciation-machinery (144,000) (114,000) 720,000 672,000 Total assets $720,000 $688,800 Liabilities and Stockholders' Equity Accounts payable $54,000 $42,000 Long-term debt Common stock, $2 par 34,800 73,200 240,000 180,000 312,000 312,000 Additional paid in capital Retainod
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Chapter 3 homework [myBusin
ACCT405.98A.SU.21 ACCOUNTING FOR EXECUTIVES
BuhessCourse
A Return to course
Statement of Cash Flow.
The following is a comparative balance sheet for Shanahan Corp. for 2019.
SHANAHAN CORP.
Comparative Balance Sheet
As of December 31
2019
2018
Assets
Cash
$32,400
$34,800
Accounts receivable
74,400
66,000
Inventory
36,000
26,400
Prepaid rent
1,200
3,600
Machinery
Accumulated depreciation-machinery (144,000) (114,000)
720,000 672,000
Total assets
$720,000 $688,800
Liabilities and Stockholders' Equity
Accounts payable
$54,000 $42,000
Long-term debt
34,800
73,200
Common stock, $2 par
240,000
180,000
Additional paid in capital
312,000 312,000
Retained earnings
79,200
81,600
Total liabilities and stockholders' equity $720,000 $607,200
Notes: Cash dividends of $12,000 were paid during the year.
Required
Using the indirect method, prepare a statement of cash flows for 2019.
Shanahan Corp.
Statement of Cash Flows
Year Ending December 31, 2019
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