accounting cash flow ch.12 prct

accounting cash flow ch.12 prct - Accounting 2013 Statement...

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Accounting 2013 Statement of Cash Flows (For Practice Only) General Information Introduction Jones Widget Company (JWC) incorporated at the beginning of 2006. Below is the post closing trial balance as of 12/31/05 and 1/31/06. You are to prepare a statement of cash flows from the following. JWC. – Income Statement Month ended 1/31/06 NET SALES $28,300 COST OF SALES 12,930 Gross profit 15,370 OPERATING EXPENSES: Selling, general and administrative 5,004 Depreciation 460 Total operating expenses 5,464 NET INCOME $9,906 Hints: 1) The Change in Accounts Receivable is to be calculated using Net Accounts Receivable. Combine the accounts used in Net Accounts Receivable to report the increase or decrease in Net Accounts Receivable 2) Proceeds from a $100,000 bond issuance are to be calculated using the values from both T Accounts associated with the bond. 3) JWC issued more common stock. Calculate the proceeds by analyzing both contributed capital accounts. 4) JWC sold their treasury stock at cost.
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accounting cash flow ch.12 prct - Accounting 2013 Statement...

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