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I I NEED ASAP PLEASE AND THANK YOU! CLEAR WRITING PLEASE!!! Comparative statements of financial position for Accoral Accounting Inc. are shown below: ACCORAL ACCOUNTING
I
I NEED ASAP PLEASE AND THANK YOU! CLEAR WRITING PLEASE!!!
Comparative statements of financial position for Accoral Accounting Inc. are shown below: ACCORAL ACCOUNTING INC. Statements of Financial Position Cash Accounts receivable (net). Inventory Long-term investments Property, plant & equipment. Accumulated depreciation Total Assets December 31 2017 2016 $ 33,990 $ 11,220 53,130 22,330 38,500 46,200 0 16,500 260,150 165,000 41,470) (27,500) $344.300 $233.250 Accounts payable Accrued liabilities Long-term notes payable Common shares... I. Retained earnings.. Total Liabilities & Shareholders' Equity $ 20,900 20,900 77,000 143,000 82.500 $344,300 $ 29,150 18,700 55,000 99,000 31.900 S232, ZSO Additional information concerning transactions and events during 2017: 1 Net income was $88,000. 2 Sold the long-term investments for $30,800. 3. Paid cash dividends of $37,400. Purchased machinery costing $29,150, paid cash. 5 Purchased machinery by signing a $66,000 long-term note payable. 6. Extinguished a $44,000 long-term note payable by issuing common shares. 4. Instructions Prepare a statement of cash flows (indirect method for calendar 2017 for Accoral Accounting IncStep by Step Solution
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