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Please find the ending balance sheet, income statement, and cash flow amounts Y1 38.00 72.00 14.00 91.00 25.00 62.00 Transactions for each year 1. Cost
Please find the ending balance sheet, income statement, and cash flow amounts
Y1 38.00 72.00 14.00 91.00 25.00 62.00 Transactions for each year 1. Cost of goods purchased on credit 2. Equipment for doing R&D is purchased for cash 3. The company pays for 2 years of advertising 4. Revenues from credit sale 5. Cost of goods sold 6. Collections from customers [Remainder to be collected later] 7. R&D expense is booked for the depreciation of equipment Useful life in years Salvage value Straight-line depreciation 8. Advertising for the current year is expensed 9. The company owes salaries to its salespeople 10. The company pays salaries to its salespeople [Remainder to be paid later] 11. Payment to suppliers (Remainder to be paid later] 2.00 0.00 18.00 12.00 22.00 Year 1 Statements Change in balance sheet Cash S 1 2 3 4 5 6 7 8 9 10 11 Sum 90.00 Equipment for R&D Accumulated depreciation: Show contra-asset as positive 90.00 Retained earnings Check Income Statement = Net income Cash Flow Statement Adjustments: = OCF [Indirect format] = Investing cash flow = Net cash flow Check Direct Operating CFS 90.00 = Operating cash flow Check Year 1 Ending Balance Sheet Cash Receivables Inventories Prepayments Gross PP&E Accumulated depreciation (Positive number. Subtract while computing total assets) Payables to suppliers Salaries payables or accrued expenses Retained earnings Income Statement Sales COGS [Positive number] Salesperson salary expense [Positive number] Advertising expense Depreciation for R&D (Positive number] Indirect Cash Flow Statement Adjustments for (Put minus sign (-) before negative adjustments] (Change) in gross receivables (Change) in inventories (Change) in prepaid advertising Depreciation Change in accounts payables Change in accrued salaries (Capital expenditure) TI TIIT TIIStep by Step Solution
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