17. The income statement for 2022 and comparative balance sheets of Indian River Boutique for 2021...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
17. The income statement for 2022 and comparative balance sheets of Indian River Boutique for 2021 and 2022 appear below. Dividends totaling $51,200 were paid during the year. Assets Cash. Accounts receivable Merchandise inventories Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Income taxes payable Long-term notes payable. Common stock, $0.50 par Retained earnings December 31 2022 Interest expense Other expenses Gain on sale of equipment Income taxes expense Net income 56,800 58,300 14,500 12,200 24,600 30,000 110,000 98,700 (35.600) (28,400) 170.300 170.800 2021 NO 31,500 8,900 46,700 52,300 37.600 32.100 45.600 44.300 Total liabilities and stockholders' equity 170.300 170,800 Sales Cost of goods sold Depreciation expense 389,000 178,000 24,000 2,700 105,700 34,700 7,400 10,600 28.700 $52.500 214.000 Prepare the operating activities section of the 2022 statement of cash flows using the indirect method. You may omit the statement heading. 17. The income statement for 2022 and comparative balance sheets of Indian River Boutique for 2021 and 2022 appear below. Dividends totaling $51,200 were paid during the year. Assets Cash. Accounts receivable Merchandise inventories Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Income taxes payable Long-term notes payable. Common stock, $0.50 par Retained earnings December 31 2022 Interest expense Other expenses Gain on sale of equipment Income taxes expense Net income 56,800 58,300 14,500 12,200 24,600 30,000 110,000 98,700 (35.600) (28,400) 170.300 170.800 2021 NO 31,500 8,900 46,700 52,300 37.600 32.100 45.600 44.300 Total liabilities and stockholders' equity 170.300 170,800 Sales Cost of goods sold Depreciation expense 389,000 178,000 24,000 2,700 105,700 34,700 7,400 10,600 28.700 $52.500 214.000 Prepare the operating activities section of the 2022 statement of cash flows using the indirect method. You may omit the statement heading.
Expert Answer:
Answer rating: 100% (QA)
To prepare the operating activities section of the 2022 statement of cash flows using the indirect m... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
Posted Date:
Students also viewed these accounting questions
-
Prepare the statement of cash flows using the indirect method. The income statement for 2014 and the balance sheets for 2014 and 2013 are presented for Griffin Industries. Additional information...
-
Prepare statement of cash flows using the indirect method. The income statement for 2014 and the balance sheets for 2014 and 2013 are presented for Hoover Industries, Inc. Additional information...
-
A rectangular loop of wire with sides 0.20 and 0.35 m lies in a plane perpendicular to a constant magnetic field (see part a of the drawing). The magnetic field has a magnitude of 0.65 T and is...
-
What two elements did Pierre and Marie Curie discover?
-
When you eat a pizza that has just come from the oven, why is it that you are apt to burn the roof of your mouth with the first bite although the crust of the pizza feels only warm to your hand?
-
For each of the following situations, calculate the standard error of the mean \(s \mathrm{X}^{-}\). a. \(s=7.00 ; N=49\) b. \(s=2.50 ; N=14\) c. \(s=8.90 ; N=23\) d. \(s=25.61 ; N=54\)
-
Ray and Maria Gomez have been married 3 years. They live at 1610 Quince Ave., McAllen, TX 78701. Ray works for Palm Oil Corporation and Maria works for the City of McAllen. Maria's Social Security...
-
Assume the random variable X is normally distributed, with mean = 54 and standard deviation = 8. Find the 7th percentile. The 7th percentile is (Round to two decimal places as needed.)
-
Build this interface with Java and give me the code Model Welcome to Model ads Welcome User Login Form UserName Password Passowd Get Username get Password 2022 Model
-
Evaluate (x+ydech on B region using the transformation = xy and v=x-y ay-2 2-7-9 O a. 8 O b. -8 Oc2 O d.1 O e -2
-
1. In job order cost accounting, the three elements of manufacturing cost are charged directly to job orders. Why is it not necessary to charge manufacturing costs in process cost accounting to job...
-
According to Rooke and Torbert, how might holding a later action logic promote leadership effectiveness?
-
Using examples from your personal experiences or insights, please discuss some effects of gender in the context of leadership style and leadership effectiveness.
-
Using a theoretical leadership framework or construct, how would you assess CDC leadership effectiveness in pursuing the goal of the health literacy improvement plan during COVID?
-
What personal characteristics do you think matter most in leadership and Which ones detract from leadership effectiveness?
-
On January 1, 2016, Marimba Inc. purchased $1,000,000 of Panora Ltd.s 5% bonds. Marimba paid a commission of $2,000 to the broker who made the purchase. The bonds pay semi-annual interest each 30...
-
1A. If the researcher is concerned about the number of variables, the nature of the analysis, and completion rates, then, he/she is at which stage of the sampling design process (Figure 11.1 in the...
-
Journalize the following long-term, available-for-sale investment transactions of Hammond Department Stores: a. Purchased 410 shares of Potter Fine Foods common stock at $31 per share, with the...
-
Gerbig, Inc., collects cash from customers in advance and from other customers after the sale. Journalize the following transactions for Gerbig: a. Accrued revenue. Some customers pay Gerbig after...
-
Dellroy Rentals Company faced the following situations. Journalize the adjusting entry needed at December 31, 2016, for each situation. Consider each fact separately. a. The business has interest...
-
Discuss the employment-at-will doctrine.
-
Discuss under what conditions unemployment compensation can be denied to a claimant.
-
Discuss why employment disclaimers are important to the employer.
Study smarter with the SolutionInn App