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CRUZ, INC Comparative Balance Sheets December 31, 2019 2019 2018 $ 94,800 41.000 85,800 5,400 227,000 109,000 (17,000) $319,000 $ 24,000 51.000 95,800 4,200 175,000 119,000 (9.000) $285,000 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 15,000 $ 21.000 9,000 5,000...
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2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 99,300 Accounts receivable, net 42,600 Inventory 89, 100 Prepaid expenses 5,600 Total current assets 236,600 Furniture 113,000 Accum. depreciation-Furniture (17,500) Total assets $332,100 Liabilities and Equity Accounts payable $ 15,700 Wages payable 9,400 Income taxes payable 1,500 Total current liabilities 26,600 Notes payable (long-term) 30,900 Total liabilities 57,500 Equity Common stock, $5 par value 241,200 Retained earnings 33,400 Total liabilities and equity $332,100 $ 24,900 52,800 99,200...
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CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 Assets $ 72,900 $18,100 38,400 Cash Accounts receivable, net 31,300 65,600 Inventory 72,100 3,300 Prepaid expenses 4,000 131,900 Total current assets 173,800 Furniture 80,600 93,500 (7,100) $218,300 Accum. depreciation-Furniture (12,500) $241,900 Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities $ 11,400 6,800 $16,100 3,800 1,200 19,400 24,800 44,200 2,100 22,000 55,800 77,800 Notes payable (long-term) Total liabilities Equity Common stock, $5 par value...
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CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $488,000 Cost of goods sold 314,000 Gross profit 174,000 Operating expenses Depreciation expense $37,600 Other expenses 89,100 126,700 Income before taxes 47,300 Income taxes expense 17,300 Net income $ 30,000 CRUZ, INC. Comparative Balance Sheets December 31, 2017 | 2017 2016 _ Assets Cash $ 94,800 $ 24,000 Accounts receivable, net 41,000 51,000 Inventory 85,800 95,800 Prepaid expenses 5,400 4,200 Total current assets 227,000 175,000 Furniture 109,000 119,000 Accum....
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CRUZ, INC Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equitv Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 89,000 22,100 46,900 88,000 4,000 161,000 113,300 38,200 80,000 4,900 212,100 98,800 (15,300) (8,600) $295,600 $265,700 $ 13,900 19,600 4,600 2,600 26,800 69,000...
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Complete the general ledger accounts to calculate cash received
from the sale of furniture.
2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 66,100 Accounts receivable, net 28,500 Inventory 59,700 Prepaid expenses 3,700 Total current assets 158,000 Furniture 74,600 Accum. depreciation-Furniture (11,600) Total assets $221,000 Liabilities and Equity Accounts payable $ 10,400 Wages payable 6,300 Income taxes payable 1,000 Total current liabilities 17,780 Notes payable (long-term) 20,700 Total liabilities 38,400 Equity Common stock, $5 par value...
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2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 62,800 Accounts receivable, net 27.000 Inventory 56,600 Prepaid expenses 3,500 Total current assets 149,900 Furniture 70,500 Accum. depreciation-Furniture (10,900) Total assets $209,500 Liabilities and Equity Accounts payable $ 9,900 Wages payable 5,900 Income taxes payable 1.000 Total current liabilities 16,800 Notes payable (long-term) 20,700 Total liabilities 37,500 Equity Common stock, $5 par value 150,000 Retained earnings 22.000 Total liabilities and equity $209,500 $ 15,700 33.300 62,500 2,900...
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Net income is $522,000
Please create a statement of cash flow
2020 2019 Assets Current Assets Cash Accounts receivable Inventory Prepaid expenses 285,000 334,000 306,000 55,000 980,000 305,000 384,000 256,000 35,000 980,000 Total current assets $ $ Fixed (Long-Term) Assets Property, plant, and equipment (Less accumulated depreciation) Total fixed assets $ $ 650,000 (165,000) 485,000 1,465,000 $ $ 590,000 (130,000) 460,000 1,440,000 Total Assets 60,000 15,000 50,000 55,000 180,000 50,000 20,000 25,000 45,000 140,000 $ Liabilities and Owner's Equity Current...
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2018 IKIRAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 Assets Cash $ 96,700 Accounts receivable, net 92,000 Inventory 81,800 Prepaid expenses 6,200 Total current assets 276,700 Equipment 142,000 Accum. depreciation Equipment (36.000) Total assets $382,700 Liabilities and Equity Accounts payable $ 43,000 Wages payable 7,800 Income taxes payable 5,200 Total current liabilities 56,000 Notes payable (long term) 48,000 Total liabilities 104,000 Equity Common stock, $5 par value 256.000 Retained earnings 22,700 Total liabilities and equity $382,700 $...
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A comparative balance sheet and income statement is shown for
Cruz, Inc. CRUZ, INC. Comparative Balance Sheets December 31, 2015
2015 2014 Assets Cash $ 94,800 $ 24,000 Accounts receivable, net
41,000 51,000 Inventory 85,800 95,800 Prepaid expenses 5,400 4,200
Total current assets 227,000 175,000 Furniture 109,000 119,000
Accum. depreciation—Furniture (17,000 ) (9,000 ) Total assets $
319,000 $ 285,000 Liabilities and Equity Accounts payable $ 15,000
$ 21,000 Wages payable 9,000 5,000 Income taxes payable 1,400 2,600
Total current...
CRUZ, INC Comparative Balance Sheets December 31, 2019 2019 2018 $ 94,800 41.000 85,800 5,400 227,000 109,000 (17,000) $319,000 $ 24,000 51.000 95,800 4,200 175,000 119,000 (9.000) $285,000 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 15,000 $ 21.000 9,000 5,000...
2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 99,300 Accounts receivable, net 42,600 Inventory 89, 100 Prepaid expenses 5,600 Total current assets 236,600 Furniture 113,000 Accum. depreciation-Furniture (17,500) Total assets $332,100 Liabilities and Equity Accounts payable $ 15,700 Wages payable 9,400 Income taxes payable 1,500 Total current liabilities 26,600 Notes payable (long-term) 30,900 Total liabilities 57,500 Equity Common stock, $5 par value 241,200 Retained earnings 33,400 Total liabilities and equity $332,100 $ 24,900 52,800 99,200...
CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 Assets $ 72,900 $18,100 38,400 Cash Accounts receivable, net 31,300 65,600 Inventory 72,100 3,300 Prepaid expenses 4,000 131,900 Total current assets 173,800 Furniture 80,600 93,500 (7,100) $218,300 Accum. depreciation-Furniture (12,500) $241,900 Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities $ 11,400 6,800 $16,100 3,800 1,200 19,400 24,800 44,200 2,100 22,000 55,800 77,800 Notes payable (long-term) Total liabilities Equity Common stock, $5 par value...
CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $488,000 Cost of goods sold 314,000 Gross profit 174,000 Operating expenses Depreciation expense $37,600 Other expenses 89,100 126,700 Income before taxes 47,300 Income taxes expense 17,300 Net income $ 30,000 CRUZ, INC. Comparative Balance Sheets December 31, 2017 | 2017 2016 _ Assets Cash $ 94,800 $ 24,000 Accounts receivable, net 41,000 51,000 Inventory 85,800 95,800 Prepaid expenses 5,400 4,200 Total current assets 227,000 175,000 Furniture 109,000 119,000 Accum....
CRUZ, INC Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equitv Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 89,000 22,100 46,900 88,000 4,000 161,000 113,300 38,200 80,000 4,900 212,100 98,800 (15,300) (8,600) $295,600 $265,700 $ 13,900 19,600 4,600 2,600 26,800 69,000...
Complete the general ledger accounts to calculate cash received
from the sale of furniture.
2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 66,100 Accounts receivable, net 28,500 Inventory 59,700 Prepaid expenses 3,700 Total current assets 158,000 Furniture 74,600 Accum. depreciation-Furniture (11,600) Total assets $221,000 Liabilities and Equity Accounts payable $ 10,400 Wages payable 6,300 Income taxes payable 1,000 Total current liabilities 17,780 Notes payable (long-term) 20,700 Total liabilities 38,400 Equity Common stock, $5 par value...
2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 62,800 Accounts receivable, net 27.000 Inventory 56,600 Prepaid expenses 3,500 Total current assets 149,900 Furniture 70,500 Accum. depreciation-Furniture (10,900) Total assets $209,500 Liabilities and Equity Accounts payable $ 9,900 Wages payable 5,900 Income taxes payable 1.000 Total current liabilities 16,800 Notes payable (long-term) 20,700 Total liabilities 37,500 Equity Common stock, $5 par value 150,000 Retained earnings 22.000 Total liabilities and equity $209,500 $ 15,700 33.300 62,500 2,900...
Net income is $522,000
Please create a statement of cash flow
2020 2019 Assets Current Assets Cash Accounts receivable Inventory Prepaid expenses 285,000 334,000 306,000 55,000 980,000 305,000 384,000 256,000 35,000 980,000 Total current assets $ $ Fixed (Long-Term) Assets Property, plant, and equipment (Less accumulated depreciation) Total fixed assets $ $ 650,000 (165,000) 485,000 1,465,000 $ $ 590,000 (130,000) 460,000 1,440,000 Total Assets 60,000 15,000 50,000 55,000 180,000 50,000 20,000 25,000 45,000 140,000 $ Liabilities and Owner's Equity Current...
2018 IKIRAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 Assets Cash $ 96,700 Accounts receivable, net 92,000 Inventory 81,800 Prepaid expenses 6,200 Total current assets 276,700 Equipment 142,000 Accum. depreciation Equipment (36.000) Total assets $382,700 Liabilities and Equity Accounts payable $ 43,000 Wages payable 7,800 Income taxes payable 5,200 Total current liabilities 56,000 Notes payable (long term) 48,000 Total liabilities 104,000 Equity Common stock, $5 par value 256.000 Retained earnings 22,700 Total liabilities and equity $382,700 $...