ACC206 Week One Guidance Report.xlsx

Accounts receivable increased 23700 prepaid expenses

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Accounts receivable increased 23700 Prepaid expenses increased 2400 wages payable increased 5600 Income taxes payable decreased 800 Direct Method Cash collected 954000 Less cash paid for: Inventory -756800 YOUR ANSWERS BASED UPON COURSE START DATE Account to be changed Original Amount YOUR ANSWERS BASED UPON COURSE START DATE Account to be changed Original Amount YOUR ANSWERS BASED UPON COURSE START DATE
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Selling & administrative -145800 Interest expense -18000 Income taxes -30100 Net cash provided by operating activities 3300 Indirect Method Net income 63000 Accounts payable decreased -36800 Accounts receivable increased -26000 Prepaid expenses increased -4700 wages payable increased 7900 Inventory -25000 Income taxes payable decreased -3100 Depreciation 54000 Gain on sale of equipment -26000 Net cash provided by operating activities 3300 CH 1 Pb 3 Accounts receivable (net) 83800 Inventory 243400 Accounts payable 123600 Taxes payable 43600 Sales 713800 Net income 145800 Long tem investments purchased 74600 Sale of land cash proceeds 76200 Store equipment purchased - short term note 44000 Purchased equipment issue 3000 pref shares 150000 Long term note repaid 49400 Common stock issued - shares 20000 Cash collected 714000 Less cash paid for: Inventory -309400 Selling & administrative -208800 Account to be changed Original
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  • Fall '11
  • BRENTBEYER
  • Cash Flow Statement, Net Income, Generally Accepted Accounting Principles, guidance report

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