Ch19_P07A - $92,000 $128,000 Income taxes payable 36,000...

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Fundamental Accounting Principles Student Name: Eleventh Canadian Edition, by Larson, Jensen, and Carroll Class: SPATS Problem 19-7A 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:O30 Given Data T1
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REPORT REFERENCE Given Data T1 0 0 SPATS Problem 19-7A VOGRINCIC CORPORATION Cash Flow Statement For Year Ended December 31, 2005
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Given Data: VOGRINCIC CORPORATION Comparative Balance Sheet December 31, 2005 December 31 2005 2004 Assets Cash $232,000 $156,000 Accounts receivable 124,000 108,000 Merchandise inventory 812,000 712,000 Equipment 444,000 396,000 Accumulated amortization, equipment (208,000) (136,000) Total assets $1,404,000 $1,236,000 Liabilities and Shareholders' Equity Accounts payable
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Unformatted text preview: $92,000 $128,000 Income taxes payable 36,000 32,000 Common shares 1,040,000 960,000 Retained earnings 236,000 116,000 Total liabilities and equity $1,404,000 $1,236,000 VOGRINCIC CORPORATION Income Statement For Year Ended December 31, 2005 Sales $2,656,000 Cost of goods sold 1,592,000 Gross profit $1,064,000 Operating expenses: Amortization expense $72,000 Other expenses 668,000 Total operating expenses 740,000 Income before taxes $324,000 Income taxes 56,000 Net income $268,000 Additional information: Equipment purchased for cash $48,000 Number of shares issued 16,000 Price per share of stock issued $5 Cash dividends declared and paid $148,000 Check figure: Net cash provided by operating activities $192,000...
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This note was uploaded on 08/22/2009 for the course ACCT 1101 taught by Professor Davescott during the Fall '05 term at Niagara College.

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Ch19_P07A - $92,000 $128,000 Income taxes payable 36,000...

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