Tribek & Co, reported the following information for 2020: Assets Cash Accounts Receivable Inventory Prepaid Expenses...
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Tribek & Co, reported the following information for 2020: Assets Cash Accounts Receivable Inventory Prepaid Expenses Land Buildings Acc Deprec-buildings Equipment Acc Deprec-equipment Totals 2020 76,000 59,000 162,000 155,000 125,000 132,000 57,000 32,000 135,000 205,000 142,000 142,000 -45,000 -28,000 187,000 119,000 -64,000 -36,000 775,000 780,000 2019 Change INC/DEC 17,000 INC 7,000 INC -7,000 DEC 25,000 DEC -70,000 DEC 0 17,000 INC 68,000 INC 28,000 INC Liabilities and Stockholders Equity Accounts Payable Accrued Expenses 36,000 41,000 -5,000 DEC 21,000 59,000 -38,000 DEC Bonds Payable 125,000 265,000 -140,000 DEC Common Stock ($1 par value) 285,000 245,000 40,000 INC Retained Earnings 308,000 170,000 138,000 INC 775,000 780,000 Totals dep -64,000 -30,000 equip 44,000 143,000 72,000 236,000 1. Equipment with a cost of $75,000, and a book value of $41,000, was sold for $32,000 cash 2. Cash Dividends were declared and paid on March 1st, in the amount of $.40 per share 3. Bonds of $140,000 were redeemed at their face value for cash 4. Land was sold at book value for cash 5. Common stock was issued in the amount of $40,000 on July 1st Use this information to prepare a SOCF using the indirect method. USE THE ATTACHED WORKSHEET Tribek & Co, reported the following information for 2020: Assets Cash Accounts Receivable Inventory Prepaid Expenses Land Buildings Acc Deprec-buildings Equipment Acc Deprec-equipment Totals 2020 76,000 59,000 162,000 155,000 125,000 132,000 57,000 32,000 135,000 205,000 142,000 142,000 -45,000 -28,000 187,000 119,000 -64,000 -36,000 775,000 780,000 2019 Change INC/DEC 17,000 INC 7,000 INC -7,000 DEC 25,000 DEC -70,000 DEC 0 17,000 INC 68,000 INC 28,000 INC Liabilities and Stockholders Equity Accounts Payable Accrued Expenses 36,000 41,000 -5,000 DEC 21,000 59,000 -38,000 DEC Bonds Payable 125,000 265,000 -140,000 DEC Common Stock ($1 par value) 285,000 245,000 40,000 INC Retained Earnings 308,000 170,000 138,000 INC 775,000 780,000 Totals dep -64,000 -30,000 equip 44,000 143,000 72,000 236,000 1. Equipment with a cost of $75,000, and a book value of $41,000, was sold for $32,000 cash 2. Cash Dividends were declared and paid on March 1st, in the amount of $.40 per share 3. Bonds of $140,000 were redeemed at their face value for cash 4. Land was sold at book value for cash 5. Common stock was issued in the amount of $40,000 on July 1st Use this information to prepare a SOCF using the indirect method. USE THE ATTACHED WORKSHEET
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Managerial Accounting Tools For Business Decision Making
ISBN: 9781119754053
9th Edition
Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell
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