Connect Access Card for Financial Accounting
9th Edition
ISBN: 9781259738678
Author: Robert Libby, Patricia Libby, Frank Hodge Ch
Publisher: McGraw-Hill Education
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Chapter 12, Problem 12.4CP
To determine
Prepare the statement of
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Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows:
Ending Balance
Beginning Balance
Cash and cash equivalents
$
102,000
$
122,400
Accounts receivable
81,700
88,000
Inventory
109,700
100,000
Total current assets
293,400
310,400
Property, plant, and equipment
291,000
280,000
Less accumulated depreciation
97,000
70,000
Net property, plant, and equipment
194,000
210,000
Total assets
$
487,400
$
520,400
Accounts payable
$
64,000
$
113,700
Income taxes payable
49,700
65,700
Bonds payable
120,000
100,000
Common stock
140,000
120,000
Retained earnings
113,700
121,000
Total liabilities and stockholders’ equity
$
487,400
$
520,400…
Required information
Skip to question
[The following information applies to the questions displayed below.]
Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows:
Ending Balance
Beginning Balance
Cash and cash equivalents
$
102,000
$
122,400
Accounts receivable
81,700
88,000
Inventory
109,700
100,000
Total current assets
293,400
310,400
Property, plant, and equipment
291,000
280,000
Less accumulated depreciation
97,000
70,000
Net property, plant, and equipment
194,000
210,000
Total assets
$
487,400
$
520,400
Accounts payable
$
64,000
$
113,700
Income taxes payable
49,700
65,700
Bonds payable
120,000
100,000
Common stock
140,000
120,000
Retained earnings
113,700
121,000
Total liabilities and stockholders’ equity
$
487,400
$
520,400…
Required information
Skip to question
[The following information applies to the questions displayed below.]
Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows:
Ending Balance
Beginning Balance
Cash and cash equivalents
$
102,000
$
122,400
Accounts receivable
81,700
88,000
Inventory
109,700
100,000
Total current assets
293,400
310,400
Property, plant, and equipment
291,000
280,000
Less accumulated depreciation
97,000
70,000
Net property, plant, and equipment
194,000
210,000
Total assets
$
487,400
$
520,400
Accounts payable
$
64,000
$
113,700
Income taxes payable
49,700
65,700
Bonds payable
120,000
100,000
Common stock
140,000
120,000
Retained earnings
113,700
121,000
Total liabilities and stockholders’ equity
$
487,400
$
520,400…
Chapter 12 Solutions
Connect Access Card for Financial Accounting
Ch. 12 - Prob. 1QCh. 12 - Prob. 2QCh. 12 - Prob. 3QCh. 12 - What are the major categories of business...Ch. 12 - Prob. 5QCh. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - Compare the two methods of reporting cash flows...Ch. 12 - Prob. 10Q
Ch. 12 - Prob. 11QCh. 12 - What are noncash investing and financing...Ch. 12 - Prob. 13QCh. 12 - Prob. 1MCQCh. 12 - Prob. 2MCQCh. 12 - Prob. 3MCQCh. 12 - Prob. 4MCQCh. 12 - Prob. 5MCQCh. 12 - Prob. 6MCQCh. 12 - Prob. 7MCQCh. 12 - Prob. 8MCQCh. 12 - Prob. 9MCQCh. 12 - Prob. 10MCQCh. 12 - Prob. 12.1MECh. 12 - Determining the Effects of Account Changes on Cash...Ch. 12 - Prob. 12.3MECh. 12 - Prob. 12.4MECh. 12 - Prob. 12.5MECh. 12 - Prob. 12.6MECh. 12 - Prob. 12.7MECh. 12 - Prob. 12.1ECh. 12 - Prob. 12.2ECh. 12 - Prob. 12.3ECh. 12 - Prob. 12.4ECh. 12 - Prob. 12.5ECh. 12 - Prob. 12.6ECh. 12 - Prob. 12.7ECh. 12 - Reporting and Interpreting Cash Flows from...Ch. 12 - Prob. 12.9ECh. 12 - Prob. 12.10ECh. 12 - Prob. 12.11ECh. 12 - Inferring Balance Sheet Changes from the Cash Flow...Ch. 12 - (Chapter Supplement B) Computing and Reporting...Ch. 12 - During the period, Sanchez Company sold some...Ch. 12 - Prob. 12.15ECh. 12 - Prob. 12.16ECh. 12 - Prob. 12.17ECh. 12 - Prob. 12.18ECh. 12 - Prob. 12.19ECh. 12 - Prob. 12.20ECh. 12 - Prob. 12.21ECh. 12 - (Chapter Supplement A) Reporting and Interpreting...Ch. 12 - Prob. 12.23ECh. 12 - Prob. 12.24ECh. 12 - Prob. 12.1PCh. 12 - Prob. 12.2PCh. 12 - Prob. 12.3PCh. 12 - Prob. 12.4PCh. 12 - Prob. 12.5PCh. 12 - (Chapter Supplement C) Preparing a Statement of...Ch. 12 - Prob. 12.1APCh. 12 - Prob. 12.2APCh. 12 - Prob. 12.3APCh. 12 - Prob. 12.1CONCh. 12 - Prob. 12.1CPCh. 12 - Prob. 12.2CPCh. 12 - Prob. 12.3CPCh. 12 - Prob. 12.4CPCh. 12 - Prob. 12.5CPCh. 12 - Prob. 12.6CP
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