FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Financial statements of Rukavina Corporation follow:
Comparative Balance Sheet
Assets:
Cash and cash equivalents
Accounts receivable
Inventory
Property, plant, and equipment
Less accumulated depreciation
Total assets
Liabilities and stockholders' equity:
Accounts payable
Bonds payable
Common stock
Retained earnings
Total liabilities and stockholders' equity
Income Statement
Sales
Cost of goods sold
Gross margin
Selling and administrative expense
Net operating income
Income taxes
Net income.
$. 760
532
228
152
76
23
$ 53
Ending Beginning
Balance
Balance
328
$ 590
$ 143
416
105
(74)
$ 590
$ 69
111
82
656
300
$ 574
$ 109
460
104)
(99)
$ 574
$ 75
116
83
600
Cash dividends were $28. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of
its own common stock. The following questions pertain to the company's statement of cash flows
The net cash provided by (used in) operating activities for the year was:
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Transcribed Image Text:Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income. $. 760 532 228 152 76 23 $ 53 Ending Beginning Balance Balance 328 $ 590 $ 143 416 105 (74) $ 590 $ 69 111 82 656 300 $ 574 $ 109 460 104) (99) $ 574 $ 75 116 83 600 Cash dividends were $28. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows The net cash provided by (used in) operating activities for the year was:
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