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NEED IT ASAP please and Thank you! Clear writing please!!!! Comparative statements of financial position for Accoral Accounting Inc. are shown below: ACCORAL ACCOUNTING INC.
NEED IT 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 December 31 2017 2016 Cash $ 33,990 $ 11,220 Accounts receivable (net). 53,130 22,330 Inventory 38,500 46,200 Long-term investments 0 16,500 Property, plant & equipment 260,150 165,000 Accumulated depreciation (41,470) 127,500 Total Assets $344,300 $233.750 $ 29,150 18,700 55,000 99,000 31.900 $233.750 Accounts payable $ 20,900 Accrued liabilities 20,900 Long-term notes payable. 77,000 Common shares. 143,000 Retained earnings.. 82.500 Total Liabilities & Shareholders' Equity $344 300 Additional information concerning transactions and events during 2017: Net income was $88,000. Sold the long-term investments for $30,800. 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. Extinguished a $44,000 long-term note payable by issuing common shares 1. 2 3 4 6. Instructions Prepare a statement of cash flows (indirect method) for calendar 2017 for Accoral Accounting IncStep by Step Solution
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