The following cash T-account for Holcomb Manufacturing summarizes all the transactions affecting cash during 2012. a. Compute
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The following cash T-account for Holcomb Manufacturing summarizes all the transactions affecting cash during 2012.
a. Compute the ending cash balance.b. Prepare a statement of cash flows (directmethod).
Transcribed Image Text:
Cash 8.000 Inventory purchases 34.000 Accounts payable payments 40.000 Bank loan principal payments Beginning balance Sales of inventories 27.000 7.000 10,000 Receivable collections Sales of long-term investments Long-term borrowings 12.500 Loan interest 16.000 9,000 Dividend payments 4.000 Administrative expenses Equipment purchases 12.000 11.000
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a Ending cash balance 8000 109500 90000 27500 b Holcomb Manufacturing Statement of Cas...View the full answer
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