Chapter 16 Cash Flow Example for Class

Chapter 16 Cash Flow Example for Class - Running Cash Flow...

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Running Cash Flow Example Througout Chapter 16 Beginning on Page 630 Genesis Balance Sheets Genesis December 31, 2008 and 2007 Income Statement 2008 2007 Category? For the Year Ending December 31, 2008 Assets Sales $590,000 Current Assets COGS $300,000 Cash $17,000 $12,000 $5,000 Cash Wages & Other Operating Expenses $216,000 AR $60,000 $40,000 $20,000 Operations Interest Expense $7,000 Merchandise Inventory $84,000 $70,000 $14,000 Operations Depreciation Expense $24,000 $(547,000) Prepaid Expenses $6,000 $4,000 $2,000 Operations $43,000 Total Current Assets $167,000 $126,000 $41,000 Other Gains (Losses) Long-Term Assets Gain on Retirement of Bonds $16,000 Plant Assets $250,000 $210,000 $40,000 Investing Loss on Sale of Plant Assets $(6,000) $10,000 Accumulated Depreciation $(60,000) $(48,000) $12,000 Operating Income Before Taxes $53,000 Total Assets $357,000 $288,000 $69,000 Income Taxes Expense $15,000 Liabilities Net Income $38,000 Current Liabilities AP $35,000 $40,000 $(5,000) Operating Interest Payable $3,000 $4,000 $(1,000) Operating Income Taxes Payable $22,000 $12,000 $10,000 Operating Total Current Liabilities $60,000 $56,000 $4,000 Long-Term Bonds Payable $90,000 $64,000 $26,000 Financing Total Liabilities $150,000 $120,000 $30,000 Equity Common Stock, $5 Par $95,000 $80,000 $15,000 Financing Retained Earnings $112,000 $88,000 $24,000 Net Income….
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This note was uploaded on 11/11/2009 for the course ACC 121 taught by Professor Cline during the Spring '09 term at Colorado Mountain.

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Chapter 16 Cash Flow Example for Class - Running Cash Flow...

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