Saturday
December 20, 2014

Homework Help: accounting 2

Posted by gabrielle on Wednesday, November 19, 2008 at 4:05pm.

June 30, 2008/2007

Assets
Cash- 34,700/23,500
accounts receivable- 101,600/92,300
inventory- 146,300/142,100
Investment-0/50,000
Land-145,000/0
equipment- 215,000/175,500
accumulated depreciation- (53,400)/(41,300)
2008= 594,000 /2007=442,100

liabilities and stockholders equity
accounts payable(merchandise creditors)- 100,900/95,200
Accrued expense(operating expenses)- 15,000/13,200
Dividends payable- 12,500/10,000
common stock, $1 par- 56,000/50,000
paid in capital in excess of par- common stock- 220,000/100,000
2008=594,000/ 2007= 442,100

a. Equipment and land were acquired for cash
b. There were no disposal of equipment during the year
c. The investments were sold for 45,000 cash
d. The common stock was issued for cash
e. There was a 65,900 credit to retained earning for net income
f. There was a 50,000 debit to retained earning for cash dividends declared.

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

accounting 2 urgent please help - part 1 June 30, 2008/2007 Assets Cash- 34,700/...
Accounting - Help with Crosby Corporation? Can you please help me. I am ...
business - Using the financial statements for the Goodyear Calendar Company, ...
Business - Using the financial statements for the Goodyear Calendar Company, ...
Finance - P2. Use your knowledge of balance sheets to fill in the missing ...
accounting - Assets Cash (Net Effect) $35,000 20,000 +15,000 A/R 33,000 14,000 +...
accounting - 1. Please refer to the worksheet below. Trial Balance Adjustments ...
accounting - The following financial data were taken from the annual financial ...
accounting - The following financial data were taken from the annual financial ...
Introduction to Finance: Harvesting the Money Tree - 27. Prepare a statement of ...

Search
Members