Question
Here are the most recent balance sheets for Country Kettles, Inc. Excluding accumulated depreciation, determine whether each item is a source or a use of
| Here are the most recent balance sheets for Country Kettles, Inc. Excluding accumulated depreciation, determine whether each item is a source or a use of cash, and the amount.(Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Input allamounts as positive values): |
| COUNTRY KETTLES, INC. Balance Sheet December 31, 2016 | ||||||
| 2015 | 2016 | |||||
| Assets | ||||||
| Cash | $ | 32,000 | $ | 31,250 | ||
| Accounts receivable | 71,500 | 74,800 | ||||
| Inventories | 62,400 | 64,875 | ||||
| Property, plant, and equipment | 163,000 | 175,000 | ||||
| Less: Accumulated depreciation | (47,200 | ) | (51,500 | ) | ||
| Total assets | $ | 281,700 | $ | 294,425 | ||
| Liabilities and Equity | ||||||
| Accounts payable | $ | 46,500 | $ | 48,750 | ||
| Accrued expenses | 7,880 | 6,900 | ||||
| Long-term debt | 27,200 | 30,400 | ||||
| Common stock | 32,000 | 37,600 | ||||
| Accumulated retained earnings | 168,120 | 170,775 | ||||
| Total liabilities and equity | $ | 281,700 | $ | 294,425 | ||
| Item | Source/Use | Amount | ||
| Cash | (Click to select)UseSource | $ | ||
| Accounts receivable | (Click to select)SourceUse | $ | ||
| Inventories | (Click to select)UseSource | $ | ||
| Property, plant, and equipment | (Click to select)SourceUse | $ | ||
| Accounts payable | (Click to select)UseSource | $ | ||
| Accrued expenses | (Click to select)SourceUse | $ | ||
| Long-term debt | (Click to select)SourceUse | $ | ||
| Common stock | (Click to select)SourceUse | $ | ||
| Accumulated retained earnings | (Click to select)UseSource | $ |
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Principles Of Corporate Finance
Authors: Lawrence J. Gitman, Sean M. Hennessey
2nd Canadian Edition
0321452933, 978-0321452931
