Partial Balance sheet and income statements are given below 2019 and 2020 Partial Balance Sheets Assets Liabilities
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Question:
2019 and 2020 Partial Balance Sheets | ||||||||||||||
Assets | Liabilities and Owners’ Equity | |||||||||||||
2019 | 2020 | 2019 | 2020 | |||||||||||
Current assets | $ | 1,273 | $ | 1,320 | Current liabilities | $ | 583 | $ | 610 | |||||
Net fixed assets | 5,802 | 6,023 | Long-term debt | 3,248 | 3,519 | |||||||||
WESTON ENTERPRISES 2020 Income Statement | ||
Sales | $ | 17,619 |
Costs | 5,233 | |
Depreciation | 1,552 | |
Interest paid | 738 | |
Required
a. | What was owners' equity for 2019 and 2020? |
b. | What was the change in net working capital for 2020? |
c-1. | In 2020, the company purchased $3,130 in new fixed assets. How much in fixed assets did the company sell? |
c-2. | In 2020, the company purchased $3,130 in new fixed assets. What was the cash flow from assets for the year? The tax rate is 25 percent. |
d-1. | During 2020, the company raised $797 in new long-term debt. How much long-term debt must the company have paid off during the year |
d-2. | During 2020, the company raised $797 in new long-term debt. What was the cash flow to creditors? |
Related Book For
Management Accounting
ISBN: 978-0132570848
6th Canadian edition
Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Phillip Beaulieu
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