SOLUCION A LOS PROBLEMAS DISCUTIDOS EN CLASE primer repaso

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

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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
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_______________________________________________________ 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
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