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Assets Liabilities 2022 2023 2022 2023 Cash $ 15,000 $ Accounts Receivable $ 40,000 24,000 $ 37,000 Accounts Payable Salaries Payable $ 30,000 $ 20,000
Assets Liabilities 2022 2023 2022 2023 Cash $ 15,000 $ Accounts Receivable $ 40,000 24,000 $ 37,000 Accounts Payable Salaries Payable $ 30,000 $ 20,000 $ 5,000 $ 7,000 Prepaid Expenses $ 10,000 $ 15,000 Current Liabilities $ 35,000 $ 27,000 Current Assets $ 65,000 $ 76,000 Notes Payable $ 50,000 $ 70,000 Fixed Assets $ 105,000 $ 140,000 Accumulated Depreciation $ (25,000) Net Fixed Assets +A $ 80,000 $ (28,000) $ 112,000 Total Liabilities $ 85,000 $ 97,000 Total Assets Equity Common Stock, Par $ 4,000 $ 6,000 Value Additional Paid in $ 40,000 $ 60,000 Capital Treasury Stock $ (2,000) $ (4,000) Retained Earnings $ 18,000 $ 29,000 Total Equity $ 60,000 $ 91,000 $ 145,000 $ 188,000 Total Liabilities & Equity $ 145,000 $ 188,000 Information for 2023: 1). Net Income was $14,000 2). Dividends declared and paid were $3,000 3). Depreciation Expense was $7,000 4). As of Jan 1, 2023, 4,000 shares of $1 par value common stock were issued. 5). As of Jan 1, 2023, 1000 shares were reacquired. 6). Fixed assets that cost $10,000, had accumulated depreciation of $4,000 were sold for $7,000 7). 1,000 shares of stock were reacquired during the year. 8) An additional loan of $20,000 was taken out during the year. Question 7 0/2 pts What is the adjustment in investing activities related to the purchase of fixed assets during 2023? If the amount appears as a positive in the statement of cash flows, enter it as a positive. If it appears as a negative number in the statement of cash flows, enter a negative sign (-) in front of the number. Do not enter any dollar signs or commas. For example, if the number is negative $4,700, enter -4700. -38000 Question 10 0/2 pts What is the adjustment in financing activities related to the stock issued during 2023? If the amount appears as a positive in the statement of cash flows, enter it as a positive. If it appears as a negative number in the statement of cash flows, enter a negative sign (-) in front of the number. Do not enter any dollar signs or commas. For example, if the number is negative $4,700, enter -4700. 2000
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