Chapter13reviewproblems - Common stock 2,500 2,500 Retained...

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Chapter 13 Demo Problem Income statement 2,003 2,002 Sales revenue 7,000 10,000 Cost of goods sold (2,000) (2,500) Depreciation expense (500) (500) Income taxes (1,200) (2,000) Net income 3,300 5,000 Balance sheet 2,003 2,002 Assets Cash 3,330 1,490 Accounts receivable 1,000 1,600 Merchandise inventory 400 450 24,500 20,000 Total Assets 29,230 23,540 Liabilities Accounts payable 2,000 1,800 Taxes payable 1,200 2,000 Dividends payable 10 10 Note payable 10,000 7,000 Stockholders equity
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Unformatted text preview: Common stock 2,500 2,500 Retained earnings 13,520 10,230 Total Liabilities and SE 29,230 23,540 Other information (all events took place during 2003) a) Bought a warehouse for 5,000 cash b) Paid a $10 cash dividend c) Issued $ 3,000 of notes payable (notes bear 0% interest) Based on the information above prepare a Cash Flow Statement for 2003 using both the indirect and direct methods...
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This note was uploaded on 05/12/2009 for the course AEM 2210 taught by Professor Little,j. during the Fall '07 term at Cornell University (Engineering School).

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Chapter13reviewproblems - Common stock 2,500 2,500 Retained...

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