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Exercise 12-12 Indirect: Preparing statement of cash flows LO P2, P3 Prior Year MONTGOMERY INC. Comparative...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: Changes in current operating assets and liabilities Depreciation expense Decrease in accounts receivable Decrease in accounts payable Decrease in salaries payable Increase in inventory Net cash used in operating activities Cash flows from investing activities 0) Cash flows from financing activities 0 0 Cash balance at beginning of...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 (The following information...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 (The following information applies to the questions displayed below.) The following financial statements and additional information are reported. 2016 IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 Assets Cash $ 93,700 Accounts receivable, net 99,500 Inventory 86,800 Prepaid expenses 6,700 Total current assets 286,700 Equipment 147,000 Accum. depreciation Equipment (38,500) Total assets $395,200 Liabilities and Equity Accounts payable $ 48,000 Wages payable 8,300 Income...
MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 34,500 $...
MONTGOMERY INC.
Comparative Balance Sheets
December 31
Current Year
Prior Year
Assets
Cash
$
34,500
$
34,900
Accounts receivable, net
10,000
12,400
Inventory
89,600
71,700
Total current assets
134,100
119,000
Equipment
49,600
42,400
Accum. depreciation—Equipment
(22,400
)
(15,600
)
Total assets
$
161,300
$
145,800
Liabilities and Equity
Accounts payable
$
23,800
$
25,900
Salaries payable
400
500
Total current liabilities
24,200
26,400
Equity
Common stock, no par value
117,100
108,500
Retained earnings
20,000
10,900
Total liabilities and equity
$...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 The following financial...
Exercise 12-11 Indirect: Preparing statement of cash flows LO
P1, P2, P3, A1
The following financial statements and additional information
are reported.
IKIBAN INC.
Comparative Balance Sheets
June 30, 2017 and 2016
2017
2016
Assets
Cash
$
104,500
$
49,000
Accounts receivable, net
72,500
56,000
Inventory
68,800
94,000
Prepaid expenses
4,900
6,400
Total current assets
250,700
205,400
Equipment
129,000
120,000
Accum. depreciation—Equipment
(29,500
)
(11,500
)
Total assets
$
350,200
$
313,900
Liabilities and Equity
Accounts payable
$
30,000
$...
Required information Exercise 12-11 Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following...
Required information Exercise 12-11 Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. 2018 IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 Assets Cash $100,300 Accounts receivable, net 83,000 Inventory 75,800 Prepaid expenses Total current assets 264, 700 Equipment 136,000 Accum. depreciation Equipment (33.000) Total assets $367,700 Liabilities and Equity Accounts payable 37,000 Wages payable 7,200 Income taxes...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 31,000 Accounts...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 31,000 Accounts receivable, net 10,300 Inventory 92,400 Total current assets 133,700 Equipment 51,200 Accum. depreciation-Equipment (23, 100) Total assets $161,800 Liabilities and Equity Accounts payable $ 24,600 Salaries payable 500 Total current liabilities 25,100 Equity Common stock, no par value 112,800 Retained earnings 23,900 Total liabilities and equity $161,800 $ 31,200 12,600 72,800 116,600 43, 100 (16,000) $143,700 $ 26,600 600 27,200 103,400 13,100 $ 143,700...
Required Information Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 The...
Required Information Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 The following Information applies to the questions displayed below. The following financial statements and additional Information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2817 and 2816 2017 2816 Assets s 96,7ee $ 62, eee 69,0ee Cash Accounts receivable, net Inventory Prepaid expenses 92,eee 81, 800 113,5ee 9,e00 253,500 133,0ee (18,0ee) 6,2ee 276,7ee 142, eee (36,eee) Total current assets Equipment Accum. depreciation-Equipment Total assets...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 32,300 Accounts...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 32,300 Accounts receivable, net 10,600 Inventory 95, 100 Total current assets 138,000 Equipment 52,700 Accum. depreciation-Equipment (23,880) Total assets $166,990 Liabilities and Equity Accounts payable $ 25,300 Salaries payable 500 Total current liabilities 25,800 Equity Common stock, no par value 117,300 Retained earnings 23,800 Total liabilities and equity $166,960 $ 32,400 13,000 75,1ee 120,500 44,500 16,580) $ 148,500 $ 27,400 600 28,000 107,400 13,160 $148,500 MONTGOMERY...
Exercise 12-4 Indirect: Cash flows from operating activities LO P2 The following income statement along with...
Exercise 12-4 Indirect: Cash flows from operating activities LO P2 The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. $1,511,000 740, 390 770, 610 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $207,007 Depreciation expense 36,264 Rent expense 40,797 Amortization expense-Patents 4,533 Utilities expense 16, 621 305,222 465,388 6,044 471, 432 Gain on sale of equipment Net...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questions displayed below) The following financial statements and additional Information are reported. IKTBAN INC Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 $ 87,see 65,680 63,880 4.460 220,700 124.ee (27.eee) $317,702 44.689 51,680 86,5ee 5.4ee 186,980 115,00 (9.680) $292,900 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation Equipment Total assets Liabilities and Equity...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: Changes in current operating assets and liabilities Depreciation expense Decrease in accounts receivable Decrease in accounts payable Decrease in salaries payable Increase in inventory Net cash used in operating activities Cash flows from investing activities 0) Cash flows from financing activities 0 0 Cash balance at beginning of...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 (The following information applies to the questions displayed below.) The following financial statements and additional information are reported. 2016 IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 Assets Cash $ 93,700 Accounts receivable, net 99,500 Inventory 86,800 Prepaid expenses 6,700 Total current assets 286,700 Equipment 147,000 Accum. depreciation Equipment (38,500) Total assets $395,200 Liabilities and Equity Accounts payable $ 48,000 Wages payable 8,300 Income...
MONTGOMERY INC.
Comparative Balance Sheets
December 31
Current Year
Prior Year
Assets
Cash
$
34,500
$
34,900
Accounts receivable, net
10,000
12,400
Inventory
89,600
71,700
Total current assets
134,100
119,000
Equipment
49,600
42,400
Accum. depreciation—Equipment
(22,400
)
(15,600
)
Total assets
$
161,300
$
145,800
Liabilities and Equity
Accounts payable
$
23,800
$
25,900
Salaries payable
400
500
Total current liabilities
24,200
26,400
Equity
Common stock, no par value
117,100
108,500
Retained earnings
20,000
10,900
Total liabilities and equity
$...
Exercise 12-11 Indirect: Preparing statement of cash flows LO
P1, P2, P3, A1
The following financial statements and additional information
are reported.
IKIBAN INC.
Comparative Balance Sheets
June 30, 2017 and 2016
2017
2016
Assets
Cash
$
104,500
$
49,000
Accounts receivable, net
72,500
56,000
Inventory
68,800
94,000
Prepaid expenses
4,900
6,400
Total current assets
250,700
205,400
Equipment
129,000
120,000
Accum. depreciation—Equipment
(29,500
)
(11,500
)
Total assets
$
350,200
$
313,900
Liabilities and Equity
Accounts payable
$
30,000
$...
Required information Exercise 12-11 Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. 2018 IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 Assets Cash $100,300 Accounts receivable, net 83,000 Inventory 75,800 Prepaid expenses Total current assets 264, 700 Equipment 136,000 Accum. depreciation Equipment (33.000) Total assets $367,700 Liabilities and Equity Accounts payable 37,000 Wages payable 7,200 Income taxes...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 31,000 Accounts receivable, net 10,300 Inventory 92,400 Total current assets 133,700 Equipment 51,200 Accum. depreciation-Equipment (23, 100) Total assets $161,800 Liabilities and Equity Accounts payable $ 24,600 Salaries payable 500 Total current liabilities 25,100 Equity Common stock, no par value 112,800 Retained earnings 23,900 Total liabilities and equity $161,800 $ 31,200 12,600 72,800 116,600 43, 100 (16,000) $143,700 $ 26,600 600 27,200 103,400 13,100 $ 143,700...
Required Information Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 The following Information applies to the questions displayed below. The following financial statements and additional Information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2817 and 2816 2017 2816 Assets s 96,7ee $ 62, eee 69,0ee Cash Accounts receivable, net Inventory Prepaid expenses 92,eee 81, 800 113,5ee 9,e00 253,500 133,0ee (18,0ee) 6,2ee 276,7ee 142, eee (36,eee) Total current assets Equipment Accum. depreciation-Equipment Total assets...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 32,300 Accounts receivable, net 10,600 Inventory 95, 100 Total current assets 138,000 Equipment 52,700 Accum. depreciation-Equipment (23,880) Total assets $166,990 Liabilities and Equity Accounts payable $ 25,300 Salaries payable 500 Total current liabilities 25,800 Equity Common stock, no par value 117,300 Retained earnings 23,800 Total liabilities and equity $166,960 $ 32,400 13,000 75,1ee 120,500 44,500 16,580) $ 148,500 $ 27,400 600 28,000 107,400 13,160 $148,500 MONTGOMERY...
Exercise 12-4 Indirect: Cash flows from operating activities LO P2 The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. $1,511,000 740, 390 770, 610 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $207,007 Depreciation expense 36,264 Rent expense 40,797 Amortization expense-Patents 4,533 Utilities expense 16, 621 305,222 465,388 6,044 471, 432 Gain on sale of equipment Net...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questions displayed below) The following financial statements and additional Information are reported. IKTBAN INC Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 $ 87,see 65,680 63,880 4.460 220,700 124.ee (27.eee) $317,702 44.689 51,680 86,5ee 5.4ee 186,980 115,00 (9.680) $292,900 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation Equipment Total assets Liabilities and Equity...
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