SOLUCION A LOS PROBLEMAS DISCUTIDOS EN CLASE primer repaso

# SOLUCION A LOS PROBLEMAS DISCUTIDOS EN CLASE primer repaso...

This preview shows pages 1–3. Sign up to view the full content.

Balance Sheet Increase Debit Balances 2012 2011 (Decrease) Cash 815,000 \$ 700,000 \$ 115,000 \$ Account receivable - Net 1,128,000 1,168,000 (40,000) Inventory 1,850,000 1,715,000 135,000 Property Plant, and Equipment 3,307,000 2,967,000 340,000 Accumulated depreciation (1,165,000) (1,040,000) (125,000) Investment in Myers Co. 310,000 275,000 35,000 Loan receivable 250,000 - 250,000 Total assets 6,495,000 \$ 5,785,000 \$ Credit Balances Accounts Payable 1,015,000 \$ 955,000 \$ 60,000 \$ Income tax payable 30,000 50,000 (20,000) Dividend payable 80,000 100,000 (20,000) Capital lease obligation 400,000 - 400,000 Common Stock, \$1 par 500,000 500,000 - Paid-in capital in excess of par-common stock 1,500,000 1,500,000 - Retained Earnings 2,970,000 2,680,000 290,000 Total 6,495,000 \$ 5,785,000 \$ December 31 C:\Users\Ivan\Documents\NATIONAL UNIVERSITY COLLEGE\INTERMEDIATE ACCOUNTING II - CONT 3150\EXCEL DOCUMENTS\PROBLEMAS\PROBLEM - CHAPTER 23.xlsxP23-1

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
_______________________________________________________ STATEMENT OF CASH FLOWS For the year ended December 31, 20_____ Cash flow from operating activities Net income 370,000 \$ Adjustment to reconcile net income to net cash provided by operating activities: Depreciation 147,000 \$ Gain on sale of equipment (2,000) Increase in inventories (135,000) Increase in accounts payable 60,000 Decrease in income tax payable (20,000) Decrease in accounts receivable 40,000 Income from investment (35,000) 55,000
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern