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Please do Cashflow statement.

Please do Cashflow statement.

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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Please do Cashflow statement.

Comparative Balance Sheets For 20X1 and 20X2 Year-End Year-End 20X1 20X2 Assets Current assets: S 70,000 $ 100,000 Cash Accounts receivable (net) 300,000 350,000 Inventory 410,000 430,000 Prepaid expenses 50,000 30,000 $ 830,000 $ 910,000 Total current assets Investments (long-term securities) 80,000 70,000 Plant and equipment 2,000,000 2,400,000 Less: Accumulated depreciation 1,000,000 1,150,000 $ 1,000,000 $ 1,910,000 $ 1,250,000 $ 2,230,000 Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 250,000 $ 440,000 Notes payable 400,000 400,000 Accrued expenses 70,000 50,000 $ 720,000 Ş 890,000 Total current liabilities Long-term liabilities: Bonds payable, 20X2 70,000 120,000 Ş 790,000 $ 1,010,000 Total liabilities Stockholders' equity: Preferred stock, $100 par value 90,000 90,000 Common stock, $1 par value 120,000 120,000
Transcribed Image Text:Comparative Balance Sheets For 20X1 and 20X2 Year-End Year-End 20X1 20X2 Assets Current assets: S 70,000 $ 100,000 Cash Accounts receivable (net) 300,000 350,000 Inventory 410,000 430,000 Prepaid expenses 50,000 30,000 $ 830,000 $ 910,000 Total current assets Investments (long-term securities) 80,000 70,000 Plant and equipment 2,000,000 2,400,000 Less: Accumulated depreciation 1,000,000 1,150,000 $ 1,000,000 $ 1,910,000 $ 1,250,000 $ 2,230,000 Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 250,000 $ 440,000 Notes payable 400,000 400,000 Accrued expenses 70,000 50,000 $ 720,000 Ş 890,000 Total current liabilities Long-term liabilities: Bonds payable, 20X2 70,000 120,000 Ş 790,000 $ 1,010,000 Total liabilities Stockholders' equity: Preferred stock, $100 par value 90,000 90,000 Common stock, $1 par value 120,000 120,000
Capital paid in excess of par 410,000 410,000 Retained earnings 500,000 600,000 Total stockholders' equity $ 1,120,000 S 1,220,000 Total liabilities and stockholders' equity $ 1,910,000 S 2,230.000 page 57
Transcribed Image Text:Capital paid in excess of par 410,000 410,000 Retained earnings 500,000 600,000 Total stockholders' equity $ 1,120,000 S 1,220,000 Total liabilities and stockholders' equity $ 1,910,000 S 2,230.000 page 57
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