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Panel A-Balance Sheet: Cash Accounts Receivable Plant Assets Accumulated Depreciation Total Assets Accounts Payable Common Stock, no par Retained Earnings Total Liabilities and Stockholders' Equity Year Ended December 31, 2024 Balance 12/31/2023 S $ S 16,000 3,250 14,000 (100) 33,150 5,000 24.150 4,000 33,150 Transaction Analysis CREDIT DEBIT 4,000 1,750 1,000 1,500 5,700 S 13,950 $ 100 5,850 8.000 13,950 Balance 12/31/2024 $ 20,000 5,000 15.000 (200) 39,800 $ 3.500 30,000 6,300 S 39,800

Panel A-Balance Sheet: Cash Accounts Receivable Plant Assets Accumulated Depreciation Total Assets Accounts Payable Common Stock, no par Retained Earnings Total Liabilities and Stockholders' Equity Year Ended December 31, 2024 Balance 12/31/2023 S $ S 16,000 3,250 14,000 (100) 33,150 5,000 24.150 4,000 33,150 Transaction Analysis CREDIT DEBIT 4,000 1,750 1,000 1,500 5,700 S 13,950 $ 100 5,850 8.000 13,950 Balance 12/31/2024 $ 20,000 5,000 15.000 (200) 39,800 $ 3.500 30,000 6,300 S 39,800

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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Panel A-Balance Sheet: Cash Accounts Receivable Plant Assets Accumulated Depreciation Total Assets Accounts Payable Common Stock, no par Retained Earnings Total Liabilities and Stockholders' Equity Year Ended December 31, 2024 Balance 12/31/2023 S S S 16,000 3.250 14,000 (100) 33,150 5,000 24.150 4,000 33,150 Transaction Analysis DEBIT CREDIT 4,000 1,750 1,000 1,500 5,700 S 13,950 $ 100 5,850 8,000 13,950 Balance 12/31/2024 $ 20,000 5,000 15,000 (200) 39,800 $ 3.500 30,000 6,300 $ 39,800
Transcribed Image Text:Panel A-Balance Sheet: Cash Accounts Receivable Plant Assets Accumulated Depreciation Total Assets Accounts Payable Common Stock, no par Retained Earnings Total Liabilities and Stockholders' Equity Year Ended December 31, 2024 Balance 12/31/2023 S S S 16,000 3.250 14,000 (100) 33,150 5,000 24.150 4,000 33,150 Transaction Analysis DEBIT CREDIT 4,000 1,750 1,000 1,500 5,700 S 13,950 $ 100 5,850 8,000 13,950 Balance 12/31/2024 $ 20,000 5,000 15,000 (200) 39,800 $ 3.500 30,000 6,300 $ 39,800
Panel B-Statement of Cash Flows: Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation Expense-Plant Assets Increase in Accounts Receivable Decrease in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities. Cash Payment for Acquisition of Plant Assets Net Cash Used for Investing Activities Cash Flows from Financing Activities. Cash Receipt from Issuance of Common Stock Cash Payment of Dividends Net Cash Provided by (Used for) Financino Activities Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation Expense-Plant Assets Increase in Accounts Receivable Decrease in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Show Transcribed Text Cash Payment for Acquisition of Plant Assets Net Cash Used for Investing Activities G Cash Flows from Financing Activities Cash Receipt from Issuance of Common Stock Cash Payment of Dividends Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Total 5,850 100 100 5.850 1,000 5.700 1,000 5.700
Transcribed Image Text:Panel B-Statement of Cash Flows: Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation Expense-Plant Assets Increase in Accounts Receivable Decrease in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities. Cash Payment for Acquisition of Plant Assets Net Cash Used for Investing Activities Cash Flows from Financing Activities. Cash Receipt from Issuance of Common Stock Cash Payment of Dividends Net Cash Provided by (Used for) Financino Activities Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation Expense-Plant Assets Increase in Accounts Receivable Decrease in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Show Transcribed Text Cash Payment for Acquisition of Plant Assets Net Cash Used for Investing Activities G Cash Flows from Financing Activities Cash Receipt from Issuance of Common Stock Cash Payment of Dividends Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Total 5,850 100 100 5.850 1,000 5.700 1,000 5.700
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