Below are the most recent balance sheets for Country Kettles, Incorporated. Excluding accumulated depreciation, determine whether each item is a source or a use of cash, and the amount. (Input all amounts as positive values.) Assets Cash COUNTRY KETTLES, INCORPORATED Balance Sheets 2019 $30,900 70,400 61,300 152,000 46,320 Accounts receivable Inventories Property, plant, and equipment Less: Accumulated depreciation Total assets Liabilities and Equity Accounts payable Accrued expenses Long-term debt Common stock $ 45,400 6,780 26,100 21,000 Accumulated retained earnings 169,000 Total liabilities and equity Item Cash Accounts receivable Inventories Property, plant, and equipment Accounts payable Accrued expenses Long-term debt Common stock Accumulated retained earnings $ 268,280 $278,420 2020 $30,040 73,480 63,500 161,800 50,400 Source/Use $ 47,540 6,020 28,750 25,500 170,610 $ 268,280 $278,420 Amount

Below are the most recent balance sheets for Country Kettles, Incorporated. Excluding accumulated depreciation, determine whether each item is a source or a use of cash, and the amount. (Input all amounts as positive values.) Assets Cash COUNTRY KETTLES, INCORPORATED Balance Sheets 2019 $30,900 70,400 61,300 152,000 46,320 Accounts receivable Inventories Property, plant, and equipment Less: Accumulated depreciation Total assets Liabilities and Equity Accounts payable Accrued expenses Long-term debt Common stock $ 45,400 6,780 26,100 21,000 Accumulated retained earnings 169,000 Total liabilities and equity Item Cash Accounts receivable Inventories Property, plant, and equipment Accounts payable Accrued expenses Long-term debt Common stock Accumulated retained earnings $ 268,280 $278,420 2020 $30,040 73,480 63,500 161,800 50,400 Source/Use $ 47,540 6,020 28,750 25,500 170,610 $ 268,280 $278,420 Amount

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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