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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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1-9
Calculate the missing amount:
Revenues for 2028 $18,000
Dividends delcared in 2028 $6,000
Expenses for 2028 $10,000
Jan. 1
Dec. 31 retained earnings balance -unkown
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- Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $30,000 $29,200 Inventory 75,800 76,500 Accounts payable 28,000 26,300 Dividends payable 21,000 23,000 Adjust net income of $102,600 for changes in operating assets and Net cash provided by operating activities?arrow_forward6arrow_forwardhello, I need help pleasearrow_forward
- Dec. 31 , 20Υ2 Dec. 31, 20Y1 Accounts receivable $30,000 $29,200 Inventory 75,800 76,500 Accounts payable 28,000 26,300 Dividends payable 21,000 23,000 Adjust net income of $102,600 for changes in operating assets and Net cash provided by operating activities?arrow_forwardVali COMPANY Comparative Balance Sheet 2019 Assets 2018 $61,000 $12,000 8,000 Cash. 4,000 11,000 Accounts receivable, 12,000 Inventory.. Prepaid expenses.. Equipment...- Accumulated depreciation-Equipment. 2,000 3,000 20,000 20,000 (3.000) (2.000) $95,000 $53,000 Total assets.. Liabilities and Stockholders' Equity Accounts payable. Long-term note payable. Common stock.. Retained earnings.. Total liabilities and stockholders' equity... $ 2,000 $ 4,000 16,000 14,000 18,000 32,000 45,000 $95.000 17.000 $53.000 Depreciation expense. 500 Net income.. $ 22,500 Cash dividends of $7,000 were paid during the year. The common stock was issued for cash A land was sold for $ 15,500, - balance value: $13000 - cash. Calculate the operating activity cash flows for the year ended December 31, 2019 using the indirect method.arrow_forward#8 Item Prior year Current year Accounts payable 8,118.00 7,921.00 Accounts receivable 6,037.00 6,546.00 Accruals 991.00 1,310.00 Cash ??? ??? Common Stock 11,601.00 12,956.00 COGS 12,736.00 18,335.00 Current portion long-term 5,077.00 4,951.00 debt Depreciation expense 2,500 2,817.00 Interest expense 733 417 Inventories 4,286.00 4,812.00 Long-term debt 14,771.00 13,457.00 Net fixed assets 51,237.00 54,139.00 Notes payable 4,325.00 9,906.00 Operating expenses (excl. 13,977 18,172 depr.) Retained earnings 28,135.00 30,497.00 Sales 35,119 47,877.00 Таxes 2,084 2,775 What is the firm's cash flow from financing? Submit Answer format: Number: Round to: 0 decimal places.arrow_forward
- Answer all partsarrow_forwardRevenues $115,300$Enter a dollar amount. E Expenses Enter a dollar amount.A162,100 Net earnings 37,90081,300 Dividends declared Enter a dollar amount.B20,900 Retained earnings: Beginning of year 293,100293,100 End of year 319,200Enter a dollar amount.F Total assets: Beginning of year 403,500565,800 End of year Enter a dollar amount.C679,850 Total Liabilities: Beginning of year 9,500220,400 End of year 371,000247,900 Common shares: Beginning of year 100,90052,300 End of year 151,350Enter a dollar amount.G Proceeds from common shares issued during the year Enter a dollar amount.DEnter a dollar amount.Harrow_forwardExercise 6The following items were taken from the financial statements of Young Company, Inc. Unearned Revenue $ 950 Accumulated depreciation $ 5,600 Prepaid expenses 900 Accounts payable 1,444 Equipment 11,300 Notes payable 1,498 Accounts Receivable 1,734 Common Stock 8,000 Notes Receivable 3,490 Retained Earnings (1/1/2019) 4,200 Cash 2,648 Inventory 1,920 2019 net income was $1,000 and Dividends were $700. Instructions:(a) Prepare a statement of owner’s equity in good form for the year ended December 31, 2019 (b) Prepare a balance sheet in good form as of December 31, 2019.arrow_forward
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