Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please hurry UP!!! 6. Prepare a flow of finds statement (sources and uses) for the Corporation Imany Corporation, Balance Sheet, December 31, 2018 / December

image text in transcribed

Please hurry UP!!!

6. Prepare a flow of finds statement (sources and uses) for the Corporation Imany Corporation, Balance Sheet, December 31, 2018 / December 31, 2019. 2018(S) 2019(S) ASSETS Cash 5 3 Accounts receivable 15 22 Inventories 12 15 Fixed assets, net 50 55 Other assets 8 5 TOTAL ASSETS 90 100 LIABILITIES AND EQUITY Notes payable 20 0 Accounts payable 5 8 Accrued wages 2 2 Accrued taxes 3 5 Long-term debt 0 15 Common stock 20 26 Retained earnings 40 44 TOTAL LIABILITIES AND 90 100 SHAREHOLDERS' EQUITY Imany Corporation Statement of Income and Retained Earnings (31/12/2019) 2019(S) Net sales 48 Cost of goods sold 25 Selling, general, and administrative expenses 5 Depreciation 5 Interest 2 Net income before taxes 11 Taxes (37%) 4 Net income 7 Retained earnings (31/12/2018) 40 Subtotal 47 Dividends Retained earnings (31/12/2019) 44 3

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

Auto Body And Repair Industry IRS Audit Techniques Guide

Authors: Internal Revenue Service

1st Edition

1304131661, 978-1304131669

More Books

Students also viewed these Accounting questions

Question

Please help me evaluate this integral. 8 2 2 v - v

Answered: 1 week ago