Question
Based on the data listed below, complete a Cash Flow Statement A/R, 1-1 = $12,500 A/R, 12-31 = $11,500 A/P, 1-1 = $10,000 A/P, 12-31
- Based on the data listed below, complete a Cash Flow Statement
A/R, 1-1 = $12,500
A/R, 12-31 = $11,500
A/P, 1-1 = $10,000
A/P, 12-31 = $8000
Income Tax Payable, 1-1 = $40,000
Income Tax Payable, 12-31 = $10,000
Depreciation = $50,000
Inventory 1-1 = $100,000
Inventory, 12-31 = $25,000
Accrued Interest Receivable, 1-1 = $4000
Accrued Interest Receivable, 12-31 = $1000
Accrued Interest Payable, 1-1 = $6000
Accrued Interest Payable, 12-31 = $1000
Purchase of Land = $800,000
Sale of Equipment = $600,000
Issuance of Common Stock = $2,000,000
Issuance of Bonds = $1,000,000
Payment of Cash Dividends = $200,000
Net Income = $1,600,000
Cash Balance, 1-1 = $200,000
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The Official IRS Tax Guide To Auditing Horse Activities Prepare Your Horse Operation To Withstand An IRS Audit Using The Samw Manual IRS Agents Use
Authors: IRS
1st Edition
092934670X, 978-0929346700
