Prepare the 2021 statement of cash flows for Smolira Golf Corp. Some recent financial statements for Smolira
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Prepare the 2021 statement of cash flows for Smolira Golf Corp.
Some recent financial statements for Smolira Golf Corp. follow. Use this information to work this problem.
Transcribed Image Text:
SMOLIRA GOLF CORP. 2020 and 2021 Balance Sheets Assets Liabilities and Owners' Equity 2020 2021 2020 2021 Current assets Current liabilities Cash $ 32,653 $ 39,350 Accounts payable $ 34,886 $ 44,285 Accounts Notes payable 18,058 16,848 receivable 16,911 28,877 Inventory 34,495 44,336 Other 18,871 25,619 Total 24 $112,563 Total $ 71,815 $ 86,752 Long-term debt $110,000 $140,000 Owners' equity Common stock and paid-in surplus $ 55,000 $ 55,000 Accumulated Fixed assets retained earnings 288,343 333,683 $343,343 $388,683 Net plant and equipment Total 441,099 502,872 Total liabilities and Total assets $525,158 $615,435 owners' equity $525,158 $615,435
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Statement of Cash Flows For 2021 Cash beginning of the year 32653 Operating Activities Net Income 65...View the full answer
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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