homework 7 - accounts payable 26,000 interest payable 1,000...

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HH Tool Inc Income Statement For Year Ended Dec 31, 2011 Operating Revenue Service Revenue 208000 Operating Expense Depreciation 8000 Supplies 21000 Wages 16000 Remaining 111000 Total Operating Expense 156000 Interest Expense 52000 Pretax income 51,000 Income tax expense 10,000 Net income 41,000 earnings per share 0.46 41,000/89, HH Tool Inc Statement of SE Year ended dec 31, 2011 contributed capital retained earnings Total SE Balance, Jan 1, 2011 85,000 10,000 95,000 Additional Stock issuance 4,000 4,000 net income 41,000 41000 dividends declared 22,000 22,000 balance, dec 31, 2011 89,000 29,000 118,000
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HH TOol Inc Balance Sheet Assets Current Cash 52,000 Accounts receivable 28,000 supplies 18,000 total current 98,000 land 12,000 equipment 78,000 accumulated depreciation (assets minus this) 16,000 other 18,000 total 190,000 Liabilities
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Unformatted text preview: accounts payable 26,000 interest payable 1,000 wages payable 16,000 income taxes payable 10,000 total current 53,000 notes payable 19,000 total LIABILITIES 72,000 Stockholders equity contributed capital 89,000 retained earnings 29,000 total SE 118,000 Total L and SE 190,000 HH Tool Inc Statement of cash flows for year ended dec 31,2011 Cash from Operating Activities customers 187,000 suppliers/employees 108,000 total cash from ops 79,000 Cash from investing purchasing land 12,000 other assets 13,000 25,000 Financing activities borrowing from bank 12,000 issuance of stock 4,000 pay dividends 22,000 cash used for financing 6,000 change in cash 48,000 cash @ Jan 1 4,000 Cash at Dec 31 52,000...
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This note was uploaded on 09/20/2009 for the course H ADM 121 taught by Professor Ddittman during the Fall '07 term at Cornell University (Engineering School).

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homework 7 - accounts payable 26,000 interest payable 1,000...

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