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Comparative Balance Sheet Assets: Cash and cash equivalents. Accounts receivable. Inventory Plant and equipment.. Less accumulated depreciation Total assets. Liabilities and stockholders' equity: Accounts payable. Wages payable Taxes payable.. Bonds payable. Deferred taxes Common stock. Retained earnings. Total liabilities and stockholders' equity. Sales Cost of goods sold. Gross margin. Income Statement Selling and administrative expense. Net operating income. Gain on sale of plant and equipment. Income before taxes Income taxes Net income Ending Balance Prepare a statement of cash flows for the year using the indirect method. $27 64 65 625 235 $546 $57 24 21 141 15 33 255 $546 $911 602 309 125 184 193 58 $135 Beginning Balance $23 58 58 520 212 $447 $50 22 22 150 19 30 154 $447 Cash dividends were $34. The company sold equipment for $11 that was originally purchased for $5 and that ha accumulated depreciation of $3.

Comparative Balance Sheet Assets: Cash and cash equivalents. Accounts receivable. Inventory Plant and equipment.. Less accumulated depreciation Total assets. Liabilities and stockholders' equity: Accounts payable. Wages payable Taxes payable.. Bonds payable. Deferred taxes Common stock. Retained earnings. Total liabilities and stockholders' equity. Sales Cost of goods sold. Gross margin. Income Statement Selling and administrative expense. Net operating income. Gain on sale of plant and equipment. Income before taxes Income taxes Net income Ending Balance Prepare a statement of cash flows for the year using the indirect method. $27 64 65 625 235 $546 $57 24 21 141 15 33 255 $546 $911 602 309 125 184 193 58 $135 Beginning Balance $23 58 58 520 212 $447 $50 22 22 150 19 30 154 $447 Cash dividends were $34. The company sold equipment for $11 that was originally purchased for $5 and that ha accumulated depreciation of $3.

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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Assets: Cash and cash equivalents. Accounts receivable Inventory. Comparative Balance Sheet Plant and equipment. Less accumulated depreciation Total assets. Liabilities and stockholders' equity: Accounts payable. Wages payable. Taxes payable. Bonds payable. Deferred taxes Common stock Retained earnings. Total liabilities and stockholders' equity....... Sales Cost of goods sold.. Gross margin. Income Statement Selling and administrative expense. Net operating income. Gain on sale of plant and equipment. Income before taxes Income taxes Net income Ending Balance Prepare a statement of cash flows for the year using the indirect method. $27 64 65 625 235 $546 $57 24 21 141 15 33 255 $546 $911 602 309 125 184 193 58 $135 Beginning Balance $23 58 58 520 212 $447 $50 888-8-7 22: 150 154 $447 Cash dividends were $34. The company sold equipment for $11 that was originally purchased for $5 and that had accumulated depreciation of $3.
Transcribed Image Text:Assets: Cash and cash equivalents. Accounts receivable Inventory. Comparative Balance Sheet Plant and equipment. Less accumulated depreciation Total assets. Liabilities and stockholders' equity: Accounts payable. Wages payable. Taxes payable. Bonds payable. Deferred taxes Common stock Retained earnings. Total liabilities and stockholders' equity....... Sales Cost of goods sold.. Gross margin. Income Statement Selling and administrative expense. Net operating income. Gain on sale of plant and equipment. Income before taxes Income taxes Net income Ending Balance Prepare a statement of cash flows for the year using the indirect method. $27 64 65 625 235 $546 $57 24 21 141 15 33 255 $546 $911 602 309 125 184 193 58 $135 Beginning Balance $23 58 58 520 212 $447 $50 888-8-7 22: 150 154 $447 Cash dividends were $34. The company sold equipment for $11 that was originally purchased for $5 and that had accumulated depreciation of $3.
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