Swasey Company Comparative Balance Sheets At December 31, 20x1 and 20X2 20X1 20X2 Current assets: Accounts receivable $1,500,000 $1,165,000 Inventories 600,000 640,000 Current liabilities: Wages payable 1,400,000 1,030,000 Swasey Company Income Statement For the Year Ended December 31, 20X2 Revenues $ 6,000,000 Gain on sale of equipment Cost of goods sold Depreciation expense 200,000 (3,840,000) (540,000) (20,000) $ 1,800,000 Interest expense Net income

Swasey Company Comparative Balance Sheets At December 31, 20x1 and 20X2 20X1 20X2 Current assets: Accounts receivable $1,500,000 $1,165,000 Inventories 600,000 640,000 Current liabilities: Wages payable 1,400,000 1,030,000 Swasey Company Income Statement For the Year Ended December 31, 20X2 Revenues $ 6,000,000 Gain on sale of equipment Cost of goods sold Depreciation expense 200,000 (3,840,000) (540,000) (20,000) $ 1,800,000 Interest expense Net income

Name: Swasey Company provided the following partial comparative balance shee
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Description: Swasey Company provided the following partial comparative balance sheets and the incomestatement for 20X2Required:Compute operating cash flows using the indirect method. Swasey CompanyComparative Balance SheetsAt December 31, 20x1 and 20X220X120X2Cur

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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abels and Amount Descriptions Instructions Labels Dec. 31, Dec. 31, December 31, 20Y3 20Y3 20Y2 For the Year Ended December 31, 20Y3 Amount Descriptions Assets 3 Cash $625,680.00 $586,230.00 Cash received from sale of investments 228,100.00 208,850.00 4 Accounts receivable (net) 5 Inventories Cash paid for purchase of land Cash paid for purchase of equipment Cash received from issuing common 640,910.00 617,650.00 0.00 240,620.00 6 Investments 7 Land 328,090.00 0,00 stock 704,540.00 553,320.00 8 Equipment 9 Accumulated depreciation-equipment Cash dividends (166,310.00) (147840.00) Decrease in accounts payable Decreașe in accounts receivable Decrease in accrued expenses payable 10 Total assets $2,361,010.00 $2,058,830.00 11 Liabilities and Stockholders' Equity $425,280.00 $404,550.00 52,020.00 12 Accounts payable Decrease in inventories 41,990.00 13 Accrued expenses payable Depreciation 24,190.00 20,170.00 14 Dividends payablie Gain on sale of investments 15 Common stock, $4 par…
for Morston, Inc. have assembled the following data for the year icon to view the current accounts.) (Click the icon to view the transaction data.) ston's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities. .. he statement one section at a time, beginning with the cash flows from operating activities. (Use a m ox empty, do not select a label or enter a zero.) Data table Morston, Inc. Statement of Cash Flows Year Ended December 31, 2024 lows from Operating Activities: come 70,500 stments to Reconcile Net Income to Net Cash vided by (Used for) Operating Activities: Depreciation Expense Gain on Sale of Building Decrease in Accounts Receivable Increase in Merchandise Inventory Incroaco in Accounts Payabla Data table et asi Net Hel O Transaction Data for 2024: Issuance of common stock for cash Depreciation expense Purchase of equipment with cash Acquisition of land by issuing long-term notes payable Book value…
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