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33036 4400 1100 3 300 maxidrive corp statement of

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Unformatted text preview: nds of dollars) Retained earnings, January 1, 2009 $ 6,805 Net income for 2009 3,300 Dividends for 2009 (1,000) Retained earnings, December 31, 2009 $ 9,105 Chapter One Slide 26 Relationship Among the Statements MAXIDRIVE CORP. Balance Sheet At December 31, 2009 (in thousands of dollars) Assets Cash Accounts receivable Inventories Plant and equipment Land Total assets Liabilities and Stockholders' Equity Liabilities Accounts payable $ 4, 895 5,714 8,517 7,154 981 $ 27,261 $ 7,156 Notes payable 9,000 Total l iabilities liabilities $ 16, 156 S tockholders' Equity Contributed capital Retained earnings Total stockholders' equity $ 2,000 9,105 11,105 Total liabilities and stockholders' equity $ 27,261 Ending retained earnings from the statement of retained earnings is one of the components of stockholders’ equity on the balance sheet. MAXIDRIVE CORP. State me nt of Reta ined Ea rnings For the Year Ended December 31, 2009 (in thousands of dollars) Retained earnings, January 1, 2009 $ 6,805 Net income for 2009 3,300 Dividends for 2009 (1,000) Retained earnings, December 31, 2009 $ 9,105 Chapter One Slide 27 Relationship Among the Statements MAXIDRIVE CORP. Balance Sheet At December 31, 2009 (in thousands of dollars) Assets MAXIDRIVE CORP. Statement of Cash Flows For the Year Ended December 31, 2009 (in thousands of dollars) Cash Accounts receivable Inventories Plant and equipment Land Total assets Liabilities and Stockholders' Equity Liabilities Accounts payable Notes payable $ 4,895 5,714 8,517 7,154 981 $ 27,261 $ 7,156 9,000 Total liabilities Stockholders Equity Stockholders' Equity Contributed capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 16,156 Cash flows from operating activities: Cash collected from customers Cash paid to suppliers and employees Cash paid for interest Cash paid for taxes Net cash flow from operating activities Cash flow from investing activities: Cash paid to purchase equipment Net cash flow from investing activities Cash flow from financing activities: Cash received from bank loan Cash paid for dividends paid for dividends $ 2,000 9,105 $ 33,563 (30,854) (450) (1,190) $ $ (1,625) (1,625) $ 1,400 (1,000) Net cash flow from financing activities 11,105 $ 27,261 Net decrease in cash during the year 400 $ (156) $ 4,895 Cash at beginning of the year Cash at end of the year 1,069 5,051 The change in cash on the statement of cash flows added to the beginning of the year balance in cash equal...
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This note was uploaded on 12/20/2011 for the course ACCT/MGMT 2010 taught by Professor A during the Spring '11 term at HKUST.

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