Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Is this the information I would use to make a statement of cash flows? How do I start it? 2021 2020 ASSETS Current Assets Cash

Is this the information I would use to make a statement of cash flows? How do I start it?

image text in transcribed
2021 2020 ASSETS Current Assets Cash 5 3,310,?33 5 1,545,553 Accounts Receivable 5 1,?55,?20 3?9,500 Less: Allowance for Douthul Accounts 5 [35,134] [30,000] Shortterm Investments 5 14,000 14,000 Fair Value AdjustmentST 5 [1,500] Inventory 5 933,104 2,400,000 PPD Insurance 5 43, :50 50,000 Supplies 5 5,015 3,500 Total Current Assets 5 5,025,144 5 4'953IT53 Property, Plant, 8t Equipment Land 5 1,135,000 1,135,000 Building 5 3,000,000 3,000,000 Less: Accumulated Dep. Building 5 [345,154] [259,231] Machinery 5 350,000 350,000 Less: Accumulated Dep. Machinery 5 [133,300] [14,100] Equipment 5 550,000 250,000 Less: Accumulated Dep. Equip. 5 [203,924] [134,923] Del. Truck 5 55,500 55,500 Less: Accumulated Dep. Truck 5 [43,15?] [42,511] Property, Plant, 8t Equipment [Net] 5 4,909,955 S 4,790,535.00 Long-term Investments Available for Sale Investments 5 433,300 100,000 Fair Value AdjustmentAFB 5 5,200 15,000 5 489,000 115,000 Intangible Assets Patents 5 55,000 50,000 Other Non-current Assets Right of use Asset 5 500,000 Total Assets 5 11,990,599 5 9,929,393.00 Current Liabilities NP 5 353,593.10 1,141,754 Salaries Payable 5 1,722,000.00 1,177,000 Utilities Payable 5 9,000.00 11,000 Payroll Taxes Payable 5 33,990.00 T3,000 Interest Payable 5 50350.00 13,000 Dividends Payable 5 350,000.00 400,000 Note PayableShort Term 5 150,000.00 50,000 Income Tax Payable 5 190,247.00 125,000 Total Current Liabilities 5 2,854,585.10 2,991,?54 Long Term Liabilities Lease Liability 5 412,250.00 Note PayableLong Term 5 454,500.00 500,000 Bond Payable 5 2,500,000.00 2,500,000 Discount on Bond Payable 5 [123,224.32] 5 [145,139] Total Long' Term Liabilities 5 3,243,525.58 2,853,851 Total Liabilities s 5,103,110.19 3 5,945,515 Stockholders' Equity Common Stock, 51 par, 51M Shares Authorized: 295,000 Shares Issued and 2?9,500 shares Outstanding 5 295,000.00 200,000 Additional Paid in Capital Common Stock 5 4,453,193.00 2,323,193 RE 5 595,590.00 1,045,590 Unrealized gain[loss] Available 'For Sale Securities 5 5,200.00 15,000 Less: Unearned Compensation 5 [15?,???.?3] Less: Treasury Stock [net] 5 [?1,500.00] Total Stockholders' Equity 5 5,229,105.22 4,083,783 Total Liabilities and Stockholders' Equity 5 11,337,815.00 S 9,929,398.00

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

Fundamentals of Cost Accounting

Authors: William Lanen, Shannon Anderson, Michael Maher

3rd Edition

9780078025525, 9780077517359, 77517350, 978-0077398194

Students also viewed these Accounting questions