The comparative balance sheets for the Tamarisk Beauty Supply Corporation is presented below: TAMARISK BEAUTY SUPPLY...
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The comparative balance sheets for the Tamarisk Beauty Supply Corporation is presented below: TAMARISK BEAUTY SUPPLY CORPORATION Comparative Balance Sheets Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation-equipment Total assets Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Additional information: 1. N 2. 3. 4. 5. 6. Assets 2025 $47,100 87,000 22,300 17,000 77,400 (17,300) $233,500 Liabilities and Stockholders' Equity $21,000 27,400 150,000 35,100 $233,500 2024 $31,000 61,500 17,700 48,500 61,500 (14,400) $205,800 $8,000 18,000 117,000 62,800 $205,800 Net loss for 2025 is $12,000. Net sales for 2025 are $350,000. Cash dividends of $15.700 were declared and paid in 2025. Land was sold for cash at a loss of $3,200. This was the only land transaction during the year. Equipment with a cost of $17,100 and accumulated depreciation of $11,000 was sold for $6,100 cash. $13,000 of bonds were retired during the year at carrying (book) value. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $33,000. Prepare a statement of cash flows for the year ended December 31, 2025 using the indirect method. (Show amounts that decrease cash flow with either a sign eg-15,000 or in parenthesis eg. (15,000). Do not leave any answer field blank. enter O for amounts.) TAMARISK BEAUTY SUPPLY CORPORATION Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2025 Cash Flows from Operating Activities Net Income/(Loss) Adjustments to reconcile net income to Net Cash Provided by Operating Activities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Net Cash Used by Investing Activities Cash Flows from Financing Activities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Net Cash Used by Investing Activities Cash Flows from Financing Activities Net Cash Used by Financing Activities > > The comparative balance sheets for the Tamarisk Beauty Supply Corporation is presented below: TAMARISK BEAUTY SUPPLY CORPORATION Comparative Balance Sheets Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation-equipment Total assets Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Additional information: 1. N 2. 3. 4. 5. 6. Assets 2025 $47,100 87,000 22,300 17,000 77,400 (17,300) $233,500 Liabilities and Stockholders' Equity $21,000 27,400 150,000 35,100 $233,500 2024 $31,000 61,500 17,700 48,500 61,500 (14,400) $205,800 $8,000 18,000 117,000 62,800 $205,800 Net loss for 2025 is $12,000. Net sales for 2025 are $350,000. Cash dividends of $15.700 were declared and paid in 2025. Land was sold for cash at a loss of $3,200. This was the only land transaction during the year. Equipment with a cost of $17,100 and accumulated depreciation of $11,000 was sold for $6,100 cash. $13,000 of bonds were retired during the year at carrying (book) value. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $33,000. Prepare a statement of cash flows for the year ended December 31, 2025 using the indirect method. (Show amounts that decrease cash flow with either a sign eg-15,000 or in parenthesis eg. (15,000). Do not leave any answer field blank. enter O for amounts.) TAMARISK BEAUTY SUPPLY CORPORATION Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2025 Cash Flows from Operating Activities Net Income/(Loss) Adjustments to reconcile net income to Net Cash Provided by Operating Activities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Net Cash Used by Investing Activities Cash Flows from Financing Activities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Net Cash Used by Investing Activities Cash Flows from Financing Activities Net Cash Used by Financing Activities > >
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Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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