Matthew_McCoy_Problem 16-5A

Matthew_McCoy_Proble - Operating activities Net income(a 127,000 Increase in accounts receivable(b 8,000 Increase in merchandise inventory c 95,000

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Matthew McCoy Problem 16-5A MEMPHIS CORPORATION Spreadsheet for Statement of Cash Flows - Indirect Method For Year Ended December 31, 2009 Dec. 31, Analysis of Changes 2008 Debit Credit Balance Sheet - Debits Cash 137,000 Accounts receivable 74,000 (b) 8,000 Merchandise inventory 525,000 ( c) 95,000 Equipment 240,000 (g) 105,000 976,000 Balance Sheet - Credits Accumulated depreciation 102,000 (f) 57,000 Accounts payable 96,000 (d) 64,000 Income taxes payable 19,000 (e) 3,000 Common stock, $2 par value 560,000 (h1) 28,000 Paid-in capital in excess of par value, common stock 159,000 (h2) 42,000 Retained earnings 40,000 (i) 85,000 (a) 127,000 976,000 Statement of Cash Flows
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Unformatted text preview: Operating activities Net income (a) 127,000 Increase in accounts receivable (b) 8,000 Increase in merchandise inventory ( c) 95,000 Increase in accounts payable (d) 64,000 Increase in income taxes payable (e) 3,000 Depreciation expense (f) 57,000 Investing activities Payment for purshase of equipment (g) 105,000 Financing activities Receipts from issuing stock (h) 70,000 Payment of cash dividends (i) 85,000 614,000 614,000 Dec. 31, 2009 165,000 82,000 620,000 345,000 1,212,000 159,000 160,000 22,000 588,000 201,000 82,000 1,212,000...
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This note was uploaded on 09/24/2011 for the course ACCT 212 taught by Professor Sheik during the Spring '11 term at Mountain State.

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Matthew_McCoy_Proble - Operating activities Net income(a 127,000 Increase in accounts receivable(b 8,000 Increase in merchandise inventory c 95,000

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