Ch19_P01B - $53,865 $49,875 Income taxes payable 6,300...

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Fundamental Accounting Principles Student Name: Eleventh Canadian Edition, by Larson, Jensen, and Carroll Class: SPATS Problem 19-1B Press F5, enter a cell reference, and click on <OK> to go to one of the following data entry areas: REPORT REFERENCEPRINT AREA Cash Flow Statement M1 M4:O34 Given Data T1
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REPORT REFERENCE Given Data T1 0 0 SPATS Problem 19-1B CLENDENNING INC. Cash Flow Statement For Year Ended December 31, 2005 Supporting calculations:
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Given Data: CLENDENNING INC. Comparative Balance Sheet December 31, 2005 December 31 2005 2004 Assets Cash $75,495 $44,520 Accounts receivable 27,195 32,550 Merchandise inventory 245,490 195,825 Equipment 147,630 107,100 Accumulated amortization, equipment (67,620) (42,840) Total assets $428,190 $337,155 Liabilities and Shareholders' Equity Accounts payable
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Unformatted text preview: $53,865 $49,875 Income taxes payable 6,300 9,450 Common shares 289,800 231,000 Retained earnings 78,225 46,830 Total liabilities and equity $428,190 $337,155 CLENDENNING INC. Income Statement For Year Ended December 31, 2005 Sales $853,650 Cost of goods sold 390,600 Gross profit $463,050 Operating expenses: Amortization expense $24,780 Other expenses 251,685 Total operating expenses 276,465 Income before taxes $186,585 Income taxes 62,790 Net income $123,795 Additional information: Equipment purchased for cash $40,530 Number of shares issued 4,200 Price per share of stock issued $14 Cash dividends declared and paid $92,400 Check figure: Net cash provided by operating activities $105,105...
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Ch19_P01B - $53,865 $49,875 Income taxes payable 6,300...

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