The following are several items involving the cash flow activities of the ROCKY HORROR PICTURE CO. for 2016: a. Net income, $43,700 b. Payment of dividends, $15,500 C. Ten-year, $33,000 bonds payable were issued at face value d. Depreciation expense, $21,900 e. Building acquired at a cost of $37,800 f. Accounts receivable decreased by $3,700 g. Accounts payable decreased by $4,000 h. Equipment acquired at a cost of $6,100 i. Inventories increased by $7,400 J. Beginning cash balance, $27,600 Reguired

The following are several items involving the cash flow activities of the ROCKY HORROR PICTURE CO. for 2016: a. Net income, $43,700 b. Payment of dividends, $15,500 C. Ten-year, $33,000 bonds payable were issued at face value d. Depreciation expense, $21,900 e. Building acquired at a cost of $37,800 f. Accounts receivable decreased by $3,700 g. Accounts payable decreased by $4,000 h. Equipment acquired at a cost of $6,100 i. Inventories increased by $7,400 J. Beginning cash balance, $27,600 Reguired

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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