Yorkton Enterprises Company's June 30, 2022 year-end presented the following information: 2022 2021 Cash $ 63,350 $
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Question:
Yorkton Enterprises Company's June 30, 2022 year-end presented the following information: | ||||||||
2022 | 2021 | |||||||
Cash | $ 63,350 | $ 66,097 | ||||||
Accounts receivable | $ 20,210 | $ 18,860 | ||||||
Merchandise inventory | $ 128,250 | $ 133,320 | ||||||
Long-term investments | $ 108,120 | $ 113,928 | ||||||
Equipment | $ 249,126 | $ 168,840 | ||||||
Accumulated depreciation, equipment | -$ 81,304 | -$ 32,042 | ||||||
Total | $ 487,752 | 469,003 | ||||||
Accounts payable | $ 15,904 | $ 11,628 | ||||||
Income taxes payable | $ 20,114 | $ 21,300 | ||||||
Bonds payable | $ 58,640 | $ 67,840 | ||||||
Common shares | $ 158,480 | $ 136,400 | ||||||
Retained earnings | $ 234,614 | $ 231,835 | ||||||
Total | $ 487,752 | $ 469,003 | ||||||
Income Statement | ||||||||
Sales(all on credit) | $359,919 | |||||||
Cost of goods sold | $ 187,507 | |||||||
Depreciation expense | $ 74,741 | |||||||
Other operating expenses | $ 47,402 | |||||||
Interest expense | $ 9,167 | |||||||
Loss on sale of equipment | $ 4,663 | |||||||
$ 323480 | ||||||||
Net income | $ 36439 | |||||||
Other relevant information: | ||||||||
1)There was no gain or loss on the long-term investments sold or the bonds retired. | ||||||||
2)Paid dividends ofduring the year. | ||||||||
3)Additional shares were issued during the year. | ||||||||
4)New equipment was purchased for $121,581. | ||||||||
5)Old equipment with an original cost of $41,295 was sold for $11,153. | ||||||||
REQUIRED: | ||||||||
Give a statement of cashflows in good form, for the year ended June 30, 2022 using the | ||||||||
indirect method. |
Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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