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need only ones highlighted in red The comparative balance sheets of Monty Inc. at the beginning and the end of the year 2020 are as
need only ones highlighted in red
The comparative balance sheets of Monty Inc. at the beginning and the end of the year 2020 are as follows. MONTY INC. BALANCE SHEETS Dec 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $ 46,400 $ 14,400 $32,000 Inc Accounts receivable 94.730 90,330 4,400 Inc. Equipment 42,730 24,330 18,400 Inc. Less: Accumulated Depreciation Equipment 20,730 11,000 9.730 Inc. Total $163,130 $118,060 $ 23,730 $ 17,330 6,400 Inc. Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings 101,400 82.330 19,070 Inc. 38,000 18,400 19,600 Inc Total $163,130 $118,060 Net income of $47,730 was reported and dividends of $28,130 were paid in 2020. New equipment was purchased and nor mework Question 7 of 9 0.73/1 Net income of $47.730 was reported and dividends of $28,130 were paid in 2020. New equipment was purchased and none was sold, Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesis eg. (15,0001) MONTY INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income 47730 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense 9730 Increase in Accounts Receivable 4400 Increase in Ad Payable -6400 7730 Net Canh Provided by Operating Activities MacBook Air 0.73 Question 7 of 9 $ 47730 Net Income Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense 9730 Increase in Accounts Receivable 4400 Increase in Accounts Payable -6400 7730 Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Equipment -18400 Net Cash Used by Investing Activities Payment of Cash Dividends 28130 MacBook Air Step by Step Solution
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