The accounting records of Guci Corp, show the following data for the current year. Balance Sheet,...
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The accounting records of Guci Corp, show the following data for the current year. Balance Sheet, December 31 Cash Accounts receivable Merchandise inventory Equipment, net Total assets Accounts payable Salaries payable Bonds payable Common stock (no-pan Retained earnings 2.750 Total liabilities and stockholders equity $23,000 Income Statement For the Current Year Ended December 31 Revenues Cost of goods sold Depreciation Prior Year Current Year Difference $1,000 $650 3,000 2,000 1,000 3,000 18,000 22,000 $23,000 $27,650 $2,750 $2,400 250 2,000 12,000 6,000 $27,650 Other expenses Net income Additional information: 500 6,000 11.000 $30,000 17,000 4,000 3,850 $5,150 $(350) (1,000) 2,000 4,000 $4,650 $(350) (250) 1,000 1,000 3,250 $4,650 Additional information: 1. Equipment was sold for its book value of $4,000. 2. Equipment purchased during the year was $12,000. 3. Cash dividends declared and paid were $1,900. Prepare the statement of cash flows for the current year ended December 31, using the indirect method to present cash flows from operating activities. Note: Include a negative sign (-) for any amount that would be subtracted in the statement of cash flows. Statement of Cash Flows For the Current Year Ended December 31 Cash flows from operating activities Adjustments > > > > > > Grace a hego any one that would DC SUPE Statement of Cash Flows For the Current Year Ended December 31 Cash flows from operating activities Adjustments: Cash flows from investing activities Cash flows from financing activities << < << < V $ VS LITC State The accounting records of Guci Corp, show the following data for the current year. Balance Sheet, December 31 Cash Accounts receivable Merchandise inventory Equipment, net Total assets Accounts payable Salaries payable Bonds payable Common stock (no-pan Retained earnings 2.750 Total liabilities and stockholders equity $23,000 Income Statement For the Current Year Ended December 31 Revenues Cost of goods sold Depreciation Prior Year Current Year Difference $1,000 $650 3,000 2,000 1,000 3,000 18,000 22,000 $23,000 $27,650 $2,750 $2,400 250 2,000 12,000 6,000 $27,650 Other expenses Net income Additional information: 500 6,000 11.000 $30,000 17,000 4,000 3,850 $5,150 $(350) (1,000) 2,000 4,000 $4,650 $(350) (250) 1,000 1,000 3,250 $4,650 Additional information: 1. Equipment was sold for its book value of $4,000. 2. Equipment purchased during the year was $12,000. 3. Cash dividends declared and paid were $1,900. Prepare the statement of cash flows for the current year ended December 31, using the indirect method to present cash flows from operating activities. Note: Include a negative sign (-) for any amount that would be subtracted in the statement of cash flows. Statement of Cash Flows For the Current Year Ended December 31 Cash flows from operating activities Adjustments > > > > > > Grace a hego any one that would DC SUPE Statement of Cash Flows For the Current Year Ended December 31 Cash flows from operating activities Adjustments: Cash flows from investing activities Cash flows from financing activities << < << < V $ VS LITC State
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Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Posted Date:
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