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Chapter 2: Financial Statements, Cash Flows, and Taxes 1. Use the following information to prepare an income statement and balance sheet for Pamplin Inc. Pamplin Inc. as of 12/31/2022 Accounts payable Accounts receivable Accumulated depreciation Cash Common stock-paid-in-capital Common stock - par value Common stock dividends Cost of goods sold Depreciation expense Interest expense Inventories Long-term debt Notes payable Operating expenses Plant and equipment Retained earnings Sales Taxes $ 200,000 450,000 1,000,000 200,000 500,000 300,000 30,000 700,000 220,000 50,000 4. 550,000 600,000 100,000 30,000 2,200,000 700,000 1,200,000 57,000 WI

Chapter 2: Financial Statements, Cash Flows, and Taxes 1. Use the following information to prepare an income statement and balance sheet for Pamplin Inc. Pamplin Inc. as of 12/31/2022 Accounts payable Accounts receivable Accumulated depreciation Cash Common stock-paid-in-capital Common stock - par value Common stock dividends Cost of goods sold Depreciation expense Interest expense Inventories Long-term debt Notes payable Operating expenses Plant and equipment Retained earnings Sales Taxes $ 200,000 450,000 1,000,000 200,000 500,000 300,000 30,000 700,000 220,000 50,000 4. 550,000 600,000 100,000 30,000 2,200,000 700,000 1,200,000 57,000 WI

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Chapter 2: Financial Statements, Cash Flows, and Taxes 1. Use the following information to prepare an income statement and balance sheet for Pamplin Inc. Pamplin Inc. as of 12/31/2022 Accounts payable Accounts receivable Accumulated depreciation Cash Common stock-paid-in-capital Common stock-par value Common stock dividends Cost of goods sold Depreciation expense Interest expense Inventories Long-term debt Notes payable Operating expenses Plant and equipment Retained earnings Sales Taxes $ 200,000 450,000 1,000,000 200,000 500,000 300,000 30,000 700,000 220,000 50,000 550,000 600,000 44 100,000 30,000 2,200,000 700,000 1,200,000 57,000 #I
Transcribed Image Text:Chapter 2: Financial Statements, Cash Flows, and Taxes 1. Use the following information to prepare an income statement and balance sheet for Pamplin Inc. Pamplin Inc. as of 12/31/2022 Accounts payable Accounts receivable Accumulated depreciation Cash Common stock-paid-in-capital Common stock-par value Common stock dividends Cost of goods sold Depreciation expense Interest expense Inventories Long-term debt Notes payable Operating expenses Plant and equipment Retained earnings Sales Taxes $ 200,000 450,000 1,000,000 200,000 500,000 300,000 30,000 700,000 220,000 50,000 550,000 600,000 44 100,000 30,000 2,200,000 700,000 1,200,000 57,000 #I
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