22-Solutions to P22-5 - PROBLEM 22-5 Green= Information...

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Unformatted text preview: PROBLEM 22-5 Green= Information from income statement Wages payable Red= Cash impact Blue = Adjustment 0 A/R Building A/P Paid to employees Commissions expense 271,000 1,280,000 150,000 212,000 108,000 Sales Rec'd from customers new purchase Paid to suppliers purchases Wages expense 999,000 922,000 30,000 347,000 362,000 104,000 348,000 1,310,000 165,000 0 Prepaid Insurance Accum Deprec - Build Taxes payable Bonds Payable 35,000 360,000 35,000 995,000 used Deprec. expense paid to gov't Tax expense 19,000 40,000 105,000 96,000 16,000 400,000 26,000 999,000 Inventory Equipment Accrued liabilities Preferred Shares 350,000 640,000 41,000 380,000 purchases cogs New purchase Sale #4 accrued expenses land purchase #2 362,000 314,000 38,000 46,000 16,000 100,000 398,000 632,000 57,000 new issue 24,000 504,000 Supplies Accum Deprec- Equip Dividends Payable 17,000 135,000 50,000 used Sale # 4 Deprec. expense dividends paid Dividends declared 4,000 32,000 57,000 81,000 51,000 13,000 160,000 20,000 Common Shares 666,000 L-T Investment Patent L-T Notes Payable Stock Dividend #2 400,000 100,000 460,000 18,000 equity income #7 Dividends rec'd Paid/retired new issue 62,000 44,000 40,000 62,000 418,000 100,000 420,000 746,000 Land Accum Amor - Patent Interest Payable Retained Earnings 500,000 35,000 0 294,000 with P/shares #6 Amort Expense Discount amort interest expense Stock dividend #2 net income 100,000 5,000 4,000 95,000 18,000 195,000 purchased w/ cash Paid to creditors Dividend declared 40,000 91,000 51,000 640,000 40,000 0 420,000 Cash & Equivalents Operating expenses 56,000 cash + 45,000 invests - 93,000 overdraft 8,000 0 Operations From customers Paid for taxes prepaid Insurance from income statement 922,000 105,000 19,000 166,000 From Short term investments paid employees supplies pmt on A/P 28,000 212,000 4,000 347,000 From Long term investments paid to creditors for interest Accrued Liabilities 44,000 91,000 16,000 Paid to suppliers Depreciation exp - Building 372,000 40,000 Investing Sale of equipment Purchase of land Depreciation exp - Equip 3,000 40,000 57,000 Purchase of building Amortization exp - Patent 30,000 5,000 Purchase of Equipment cash paid to suppliers...
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This note was uploaded on 10/26/2011 for the course ACCT 3410 taught by Professor Jobs during the Spring '11 term at Kwantlen Polytechnic University.

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22-Solutions to P22-5 - PROBLEM 22-5 Green= Information...

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