Question
Prepare the Cash Flow Statement (20points) December 31 2020 2019 Change Cash 90,000 65,000 25,000 Accounts receivable 25,000 36,000 (11,000) O Inventory 53,000 46,000 7,000
Prepare the Cash Flow Statement (20points)
| December 31 |
| |
| 2020 | 2019 | Change |
Cash | 90,000 | 65,000 | 25,000 |
Accounts receivable | 25,000 | 36,000 | (11,000) O |
Inventory | 53,000 | 46,000 | 7,000 O
|
Supplies | 45,000 | 58,000 | (13,000) O |
Land and Building | 305,000 | 161,000 | 144,000 I |
Furniture and Fixtures | 310,000 | 300,000 | 10,000 I |
Accumulated Depreciation | 95,000 | 75,000 | 20,000 O |
Accounts payable | 48,000 | 45,000 | 3000 O |
Unearned Revenue | 29,000 | 35,000 | (6,000) O |
Interest Payable | 16,000 | 20,000 | (4,000) O |
Bonds Payable | 160,000 | 100,000 | (40,000) F |
Common stock | 200,000 | 171,000 | 29,000 F |
Retained Earnings | 280,000 | 220,000 | 60,000 |
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Revenue | 550,000 |
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Cost of Goods Sold | (420,000) |
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Selling Expenses | (12,000) |
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Administrative Expenses | (10,000) |
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Depreciation Expense | (20,000) | O |
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Tax Expense | (25,000) |
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Net income | 63,000 |
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Dividends Paid | 3,000 | F |
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Check Figures: |
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Cash Flow from Operating Activities | 93,000 |
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Cash Flow from Investing Activities | (154,000) |
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Cash Flow from Financing Activities | 86,000 |
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