Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Create a Cash Flow Statement in good form for Gotham for the 20X1 and 20X2. You've been given a 3-year Balance Sheet and a a

image text in transcribed

Create a Cash Flow Statement in good form for Gotham for the 20X1 and 20X2.

You've been given a 3-year Balance Sheet and a a 2-year Income Statement for Gotham, Inc. Use those to create a Cash Flow Statement in good form for Gotham for the 20X1 and 20X2. You may work with one person, but you each must submit your own work. Put that person's name here Balance Sheet Gotham as of 12/31 20X0 20X1 20X2 ASSETS: 80,500 33,000 110,000 40,000 3,000 20,000 25,000 100,000 15,000 85,000 283,000 100,000 25,000 Cash Accounts Receivable Supplies Inventory Investment Equipment Accumulated Depreciation BV of Equipment 10,000 20,000 172,000 20,000 152,000 295,500 15,000 100,000 10,000 90,000 235,000 TOTAL ASSETS LIABILITIES: 20,000 75,000 100,000 7,500 202,500 100,000 35,000 125,000 Accounts Payable Notes Payable Bonds Payable Interest Payable 100,000 5,000 165,000 200,000 TOTAL LIABILITIES OWNERS EQUITY 50,000 20,000 70,000 235,000 53,000 30,000 83,000 283,000 53,000 40,000 93,000 295,500 Stock Retained Earnings TOTAL OE TOTAL LIABILITIES & OE Income Statement ABC Company for 20X2 20x2 80,000 $ 100,000 50,000 50,000 20X1 Revenues COGS Gross Profit 20,000 Interest Expense Depreciation Expense Supplies Expense 5,000 2,000 8,000 5,000 5,000 Net Income 11,000 32,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Frank Woods Business Accounting Volume 2

Authors: Frank Wood, Ph.D. Sangster, Alan

12th Edition

0273767925, 9780273767923

More Books

Students also viewed these Accounting questions