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Determine what data goes on the balance sheet, the income statement, and the statement of cash flows, then recreate each statement in proper form. Long-term
Determine what data goes on the balance sheet, the income statement, and the statement of cash flows, then recreate each statement in proper form.
Long-term Liabilities Cost of Goods Sold Long-term Assets Accounts Payable Beginning Cash Balance Unearned Revenue Cash Paid to Employees Inventory Utilities Expense Cash Prepaid Rent Total Assets Net Increase/Decrease in Cash Proceeds from Long-term Debt Retained Earnings Common Stock Cash Paid for Merchandise Total Current Liabilities Ending Cash Balance Depreciation Expense Total Owner's Equity Merchandise Sales Cash Paid for Interest 99500 10200 100000 49000 27200 1000 10000 39800 400 32800 1000 171900 32800 99500 11950 10000 15000 50450 60000 2000 21950 24800 500
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SOLUTION Income Statement Merchandise Sales 24800 Cost of Goods Sold 99500 Gross Profit 74700 Expens...Get Instant Access to Expert-Tailored Solutions
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