Accounting In-Class Practice Problems

Accounting In-Class Practice Problems - Cash Operating...

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Unformatted text preview: Cash Operating Activities Net Income 25,000 Depreciation Expense 40,000 Loss on Sale of Investments 2,000 Gain on Sale of Equipment-10,000 Accounts Receivable 13,000 Inventory-4,000 Prepaid Expenses-1,000 Accounts Payable 7,000 Interest Payable-7,000 Salaries Payable 8,000 Total Operating Activities 73,000 Investing Activities Sold Investments 3,000 (A) Purchase of Land-6,000 Sale of Equipment 25,000 (B) Purchase of Plant & Equipment-85,000 Total Investing Activities-63,000 Financing Activities Paid off some of their Bonds Payable-15,000 Payment of Dividends-12,000-27,000 Net Change in Cash-17,000 Beginning Cash 53,000 Ending Cash 36,000 Non Cash Transactions Paid off Notes Payable by issuing Common Stock 20,000 Paid on Notes Payable-20,000 Purchase of Common Stock-20,000-17,000 Plant & Equipment Beginning 130,000 40,000 Depreciation 15,000 Sales Purchases 85,000 End 160,000 Retained Earnings 33,000 Start 2010 Dividends 12,000 25,000 Net Income 46,000 Dividends 12,000 End 2010 Operating...
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Accounting In-Class Practice Problems - Cash Operating...

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