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Below are the most recent balance sheets for Country Kettles, Incorporated. Excluding accumulated depreciation, determine whether each item is a source or a use of
Below are the most recent balance sheets for Country Kettles, Incorporated. Excluding accumulated depreciation, determine whether each item is a source or a use of cash, and the amount. (Input all amounts as positive values.) |
COUNTRY KETTLES, INCORPORATED | ||
---|---|---|
Balance Sheets | ||
2019 | 2020 | |
Assets | ||
Cash | $ 31,400 | $ 30,590 |
Accounts receivable | 70,900 | 74,080 |
Inventories | 61,800 | 64,125 |
Property, plant, and equipment | 157,000 | 167,800 |
Less: Accumulated depreciation | 46,720 | 50,900 |
Total assets | $ 274,380 | $ 285,695 |
Liabilities and Equity | ||
Accounts payable | $ 45,900 | $ 48,090 |
Accrued expenses | 7,280 | 6,420 |
Long-term debt | 26,600 | 29,500 |
Common stock | 26,000 | 31,000 |
Accumulated retained earnings | 168,600 | 170,685 |
Total liabilities and equity | $ 274,380 | $ 285,695 |
Item | Source/Use | Amount |
Cash | ||
Account Recievable | ||
Inventories | ||
Propery, plant, equipment | ||
Accounts Payable | ||
Accrued Expenses | ||
Long-Term Debt | ||
Common Stock | ||
Accumulated Retained Earnings |
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