Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I just actually need the statement of cash flows but the other statements would be great to check my work! Thanks! Adiusted Trial Balance 2015

I just actually need the statement of cash flows but the other statements would be great to check my work! Thanks!image text in transcribed

Adiusted Trial Balance 2015 Adiusted Trial Balance 2014 DR CR DR Cr Cash A/R Allowance for Doubtful accounts Investment Equip AD-Equip Accounts payable Income tax payable Common Stock 157,000 170,000 78,000 185,000 30,000 30,000 52,000 279,000 74,000 240,000 106,000 109,000 27,000 160,000 89,000 121,000 29,000 160,000 Retained Earnings Sales COGS Salaries Expense Depreciation expense Dividends Loss on Sale Tax expense Totals 148,000 600,000 85,000 580,000 350,000 93,000 17,000 30,000 5,000 27,000 1,180,000 340,000 120,000 8,000 20,000 29,000 1,094,000 1,180,000 1,094,000 Sold investments @ a loss of $5,000; investments are long term WACSO 80,000 shares weighted average shares outstanding Prepare the current year financial statements Income statement, Statement of Retained earnings, Balance sheet and Statement of Cash Flows

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

Financial And Managerial Accounting

Authors: John J Wild

6th Edition

1259621758, 978-1259621758

More Books

Students also viewed these Accounting questions