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Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets Land Equipment Accumulated Depreciation Total Assets Liabilities Current Liabilities Accounts Payable Taxes Payable Total Current Liabilities Zooyo Appliance Balance Sheet As at December 31 Bonds Payable Total Liabilities Shareholders' Equity Common Shares Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity 2020 $37,580 $15,000 17,000 16,000 21.000 27.000 75,580 58,000 110,000 80,000 130,000 160,000 (26.500) (30.000) $289.080 $268.000 2019 $29,000 $35,000 18.000 18.000 47,000 53,000 80,000 127,000 75,000 87.080 162.080 $289.080 65,000 118,000 70,000 80.000 150.000 $268.000 Notes There was no sale of land or purchase of equipment during the year.

Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets Land Equipment Accumulated Depreciation Total Assets Liabilities Current Liabilities Accounts Payable Taxes Payable Total Current Liabilities Zooyo Appliance Balance Sheet As at December 31 Bonds Payable Total Liabilities Shareholders' Equity Common Shares Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity 2020 $37,580 $15,000 17,000 16,000 21.000 27.000 75,580 58,000 110,000 80,000 130,000 160,000 (26.500) (30.000) $289.080 $268.000 2019 $29,000 $35,000 18.000 18.000 47,000 53,000 80,000 127,000 75,000 87.080 162.080 $289.080 65,000 118,000 70,000 80.000 150.000 $268.000 Notes There was no sale of land or purchase of equipment during the year.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Make a cashflow by indirect method

Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets Land Equipment Accumulated Depreciation Total Assets Liabilities Current Liabilities Accounts Payable Taxes Payable Total Current Liabilities Bonds Payable Total Liabilities Zooyo Appliance Balance Sheet As at December 31 Shareholders' Equity Common Shares Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity Sales Cost of Goods Sold Gross Profit Operating Expenses Depreciation Expense Other Operating Expenses 2020 Total Operating Expenses Income from Operations Other Income and Expenses $37,580 17,000 21.000 75,580 Interest Expense Loss on Sale of Equipment Income before Income Tax Expense Income Tax Expense Net Income (Loss) Zooyo Appliance Income Statement For the Year Ended December 31, 2020 $29,000 18.000 47,000 80,000 127,000 2019 110,000 130,000 (26.500) (30.000) $289.080 $268.000 Notes There was no sale of land or purchase of equipment during the year. The company did not repay any bonds principal during the year. The company declared and paid dividends during the year. $15,000 16,000 27,000 $35,000 18,000 53,000 58,000 80,000 160,000 75,000 70,000 87.080 80.000 162,080 150.000 $289.080 $268.000 $142,000 92.000 50,000 65.000 118,000 4,500 13,550 18,050 31,950 (4,350) (3,200) 24,400 7.320 $17.080
Transcribed Image Text:Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets Land Equipment Accumulated Depreciation Total Assets Liabilities Current Liabilities Accounts Payable Taxes Payable Total Current Liabilities Bonds Payable Total Liabilities Zooyo Appliance Balance Sheet As at December 31 Shareholders' Equity Common Shares Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity Sales Cost of Goods Sold Gross Profit Operating Expenses Depreciation Expense Other Operating Expenses 2020 Total Operating Expenses Income from Operations Other Income and Expenses $37,580 17,000 21.000 75,580 Interest Expense Loss on Sale of Equipment Income before Income Tax Expense Income Tax Expense Net Income (Loss) Zooyo Appliance Income Statement For the Year Ended December 31, 2020 $29,000 18.000 47,000 80,000 127,000 2019 110,000 130,000 (26.500) (30.000) $289.080 $268.000 Notes There was no sale of land or purchase of equipment during the year. The company did not repay any bonds principal during the year. The company declared and paid dividends during the year. $15,000 16,000 27,000 $35,000 18,000 53,000 58,000 80,000 160,000 75,000 70,000 87.080 80.000 162,080 150.000 $289.080 $268.000 $142,000 92.000 50,000 65.000 118,000 4,500 13,550 18,050 31,950 (4,350) (3,200) 24,400 7.320 $17.080
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