Here are comparative balance sheets for Taguchi Company TAGUCHI COMPANY TAGUCHI COMPANY Comparative Balance Sheets December 31
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Here are comparative balance sheets for Taguchi Company TAGUCHI COMPANY
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TAGUCHI COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventories Land Equipment Accumulated depreciation Total Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 2011 Liabilities and Stockholders' Equity Accounts payable $73,075 85,821 169,789 72,820 258,087 (65,411) $594,181 $40,234 146,400 215,000 192,547 $594,181 1. Net income for 2011 was $101,635. 2. Cash dividends of $35,484 were declared and paid. 3. Bonds payable amounting to $58,400 were redeemed for cash $58,400. 4. Common stock was issued for $43,000 cash. 5. No equipment was sold during 2011, but land was sold at cost. Complete the statement of cash flows for 2011 using the indirect method. (List amo 2010 $20,114 74,753 186,323 100,347 198,549 (30,507) $549,579 $46,383 204,800 172,000 126,396 $549,579 4 TAGUCHI COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventories Land Equipment Accumulated depreciation Total Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 2011 Liabilities and Stockholders' Equity Accounts payable $73,075 85,821 169,789 72,820 258,087 (65,411) $594,181 $40,234 146,400 215,000 192,547 $594,181 1. Net income for 2011 was $101,635. 2. Cash dividends of $35,484 were declared and paid. 3. Bonds payable amounting to $58,400 were redeemed for cash $58,400. 4. Common stock was issued for $43,000 cash. 5. No equipment was sold during 2011, but land was sold at cost. Complete the statement of cash flows for 2011 using the indirect method. (List amo 2010 $20,114 74,753 186,323 100,347 198,549 (30,507) $549,579 $46,383 204,800 172,000 126,396 $549,579 4
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SOLUTION The statement of cash flow for 2011 is completed as follows Cash Flows fro... View the full answer
Related Book For
Materials and process in manufacturing
ISBN: 978-0471656531
9th edition
Authors: E. Paul DeGarmo, J T. Black, Ronald A. Kohser
Posted Date:
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