The following information was provided by the company Dowecheatem & Howe Inc. a. Interest expense has...
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The following information was provided by the company Dowecheatem & Howe Inc. a. Interest expense has increased significantly in 2020. In a brief sentence or two explain why this may have occurred. b. Depreciation expense has increased significantly in 2020. In a brief sentence or two explain why this may have occurred. c. Prepare a Statement of Comprehensive Income (both years) d. Prepare a Statement of Financial Position (both years) e. Calculate Operating Cashflow for the year 2020 Year 2019 Year 2020 Depreciation 1,794 4,297 1,022 3,875 5,084 Cost of Goods Other Expenses 890 Interest 838 2,000 17,194 6,983 10,181 1,067 Gross Sales 16,038 6,552 8,677 Cash Accounts Receivable Sales Returns 891 Short Term Notes Payable 1,265 21,946 1,567 54,959 1,239 26,672 1,656 Long Term Debt Sales Discounts Net Fixed Assets 58,615 Accounts Payable 4,735 15,426 1,524 57,669 5,016 16,511 Inventory Dividends 1,273 59,363 Owners Equity Sales Allowances 1,081 500 Tax rate 40% 40% The following information was provided by the company Dowecheatem & Howe Inc. a. Interest expense has increased significantly in 2020. In a brief sentence or two explain why this may have occurred. b. Depreciation expense has increased significantly in 2020. In a brief sentence or two explain why this may have occurred. c. Prepare a Statement of Comprehensive Income (both years) d. Prepare a Statement of Financial Position (both years) e. Calculate Operating Cashflow for the year 2020 Year 2019 Year 2020 Depreciation 1,794 4,297 1,022 3,875 5,084 Cost of Goods Other Expenses 890 Interest 838 2,000 17,194 6,983 10,181 1,067 Gross Sales 16,038 6,552 8,677 Cash Accounts Receivable Sales Returns 891 Short Term Notes Payable 1,265 21,946 1,567 54,959 1,239 26,672 1,656 Long Term Debt Sales Discounts Net Fixed Assets 58,615 Accounts Payable 4,735 15,426 1,524 57,669 5,016 16,511 Inventory Dividends 1,273 59,363 Owners Equity Sales Allowances 1,081 500 Tax rate 40% 40%
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104 Position tor the yr 2019 l2020 Partiulas Current Assets 2019 2020 Cash 6552 6983 A... View the full answer
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
Posted Date:
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