ncome ted account balances: unts receivable -ued interest receivable End of Year $ 650,000 9.00A $223,000 Beginning of Year $ 720,000 6.980

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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ps://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fne.... A Q tô
N
S
Net income
Selected account balances:
Accounts receivable
Accrued interest receivable
Inventories
Short-term prepayments
Question 6 - Ch 13 h/w - Connect
Accounts payable (merchandise suppliers)
Accrued operating expenses payable
Accrued interest payable
Accrued income taxes payable
Saved
$
< Prev
End
of Year
650,000
9,000
800,000
20,000
570,000
65,000
6 of 6
21,000
22,000
$ 223,000
Beginning
of Year
‒‒‒
$ 720,000
6,000
765,000
15,000
562,000
94,000
12,000
35,000
Help
Save & Exit
Additional Information
1. Dividend revenue is recognized on the cash basis. All other income statement amounts are recognized on the accrual
basis.
2. Operating expenses include depreciation expense of $115,000.
Next
2⁰1
Required:
a Dronare a nartial statement of cach flows including only the onerating activities section of the statement and using the
Subr
Check my worl
Transcribed Image Text:ps://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fne.... A Q tô N S Net income Selected account balances: Accounts receivable Accrued interest receivable Inventories Short-term prepayments Question 6 - Ch 13 h/w - Connect Accounts payable (merchandise suppliers) Accrued operating expenses payable Accrued interest payable Accrued income taxes payable Saved $ < Prev End of Year 650,000 9,000 800,000 20,000 570,000 65,000 6 of 6 21,000 22,000 $ 223,000 Beginning of Year ‒‒‒ $ 720,000 6,000 765,000 15,000 562,000 94,000 12,000 35,000 Help Save & Exit Additional Information 1. Dividend revenue is recognized on the cash basis. All other income statement amounts are recognized on the accrual basis. 2. Operating expenses include depreciation expense of $115,000. Next 2⁰1 Required: a Dronare a nartial statement of cach flows including only the onerating activities section of the statement and using the Subr Check my worl
n 13 h/w
6
ts
https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fne...
eBook
Print
erences
Revenue:
Net sales
Dividend income
Interest income
Gain on sales of marketable securities
Total revenue and gains
Costs and expenses:
Cost of goods sold
Operating expenses
Interest expense
Income tax expense
Total costs and expenses
Net income
Question 6 - Ch 13 h/w - Connect
TREECE, INC.
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2021
The following income statement and selected balance sheet account data are available for Treece, Inc., at December 31,
2021.
Selected account balances:
Saved
< Prev
$1,550,000
980,000
185,000
90,000
End
of Year
6 of 6
‒‒‒
‒‒‒
$2,850,000
104,000
70,000
4,000
$3,028,000
2,805,000
223,000
$
Beginning
of Year
A
Next >
✪
Help
Save & Exit
Submit
Check my work
Transcribed Image Text:n 13 h/w 6 ts https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fne... eBook Print erences Revenue: Net sales Dividend income Interest income Gain on sales of marketable securities Total revenue and gains Costs and expenses: Cost of goods sold Operating expenses Interest expense Income tax expense Total costs and expenses Net income Question 6 - Ch 13 h/w - Connect TREECE, INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2021 The following income statement and selected balance sheet account data are available for Treece, Inc., at December 31, 2021. Selected account balances: Saved < Prev $1,550,000 980,000 185,000 90,000 End of Year 6 of 6 ‒‒‒ ‒‒‒ $2,850,000 104,000 70,000 4,000 $3,028,000 2,805,000 223,000 $ Beginning of Year A Next > ✪ Help Save & Exit Submit Check my work
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