I need help with this p Instructions Labels and A ountInstructionsXThe comparative balance sheet of Iglesias Inc. for December 31, 20Y3 and 20Y2, is shown as follows:$4123 Cash45 InventoriesF4Accounts receivable (net)6 Investments7 Land8 Equipment9 Accumulated depreciation-equipmentTotal assets1011Q SearchCF5%LAssetsF6Liabilities and Stockholders' EquityF7puo&LOLNStatement of Cash FlowsF8Dec. 31, 20Y3$186,000.00540,000.00924,000.00=F90.00600,000.001,680,000.001,440,000.00(720,000.00)(600,000.00)$3,210,000.00 $2,520,000.00сDec. 31, 2012F10$180,000.00480,000.00900,000.00120,000.000.00F11F12 Instructions Labels and A ountInstructionsXThe comparative balance sheet of Iglesias Inc. for December 31, 20Y3 and 20Y2, is shown as follows:$4123 Cash45 InventoriesF4Accounts receivable (net)6 Investments7 Land8 Equipment9 Accumulated depreciation-equipmentTotal assets1011Q SearchCF5%LAssetsF6Liabilities and Stockholders' EquityF7puo&LOLNStatement of Cash FlowsF8Dec. 31, 20Y3$186,000.00540,000.00924,000.00=F90.00600,000.001,680,000.001,440,000.00(720,000.00)(600,000.00)$3,210,000.00 $2,520,000.00сDec. 31, 2012F10$180,000.00480,000.00900,000.00120,000.000.00F11F12

A statement of cash flows is prepared to acertain the inflows and outflows of cash during the year,…

structions 12 Accounts payable 13 Accrued expenses payable 14 Dividends payable 15 Common stock, $4 par 16 Excess of paid-in capital over par 17 Retained earnings 18 Total liabilities and stockholders' equity $408,000.00 54,000.00 36,000.00 840,000.00 240,000.00 1,632,000.00 $3,210,000.00 a. The investments were sold for $210,000 cash. b. Equipment and land were acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $600.000 credit to Retained Earnings for net income. $360,000.00 60,000.00 30,000.00 720,000.00 210,000.00 1,140,000.00 $2,520,000.00 Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:

structions 12 Accounts payable 13 Accrued expenses payable 14 Dividends payable 15 Common stock, $4 par 16 Excess of paid-in capital over par 17 Retained earnings 18 Total liabilities and stockholders' equity $408,000.00 54,000.00 36,000.00 840,000.00 240,000.00 1,632,000.00 $3,210,000.00 a. The investments were sold for $210,000 cash. b. Equipment and land were acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $600.000 credit to Retained Earnings for net income. $360,000.00 60,000.00 30,000.00 720,000.00 210,000.00 1,140,000.00 $2,520,000.00 Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:

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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