Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Preparing the Financial Statements Listed below are items reported on the financial statements of the Huntington Company as of June 30, 2013: Cash flow provided

image text in transcribed
image text in transcribed
Preparing the Financial Statements Listed below are items reported on the financial statements of the Huntington Company as of June 30, 2013: Cash flow provided by operating activities $21.000 Cash at June 30, 2012 9,000 Cash at June 30, 2013 16,000 Inventory 5.500 Accounts receivable 12.200 Cash flow from investing activities (15.300) Other current assets 1,500 Property, plant and equipment 40.000 Other long-term assets 17.500 Cash flow from financing activities 1.300 Current abilities 22.000 Long-term liabilities 18.250 Intang ble assets 9.500 Common stock 51.000 Retained earning Required Prepare a classified balance sheet as of June 30, 2013, and statement of cash flows for 2013. NOTE: Use negative signs with your answers if shown in the above table as a negative number. Journal Entries Income Statement Assets HUNTINGTON COMPANY Balance Sheet June 30, 2013 Liabilities & Stockholders' Equity Liabilities: $ $ Long-term Liabilities Current Assets: e > Inventory Total Liabilities Total Current Assets Stockholders' Equity Long-term Assets: Intangible Assets Total Stockholders' Equity Total Long-term Assets Total Assets $ Total Liabilities and Stockholders' Equity $

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

Accounting Information Systems

Authors: Cynthia D Heagy, Constance M Lehmann

7th Edition

1111219516, 978-1111219512

More Books

Students also viewed these Accounting questions

Question

Does the white space create areas of emphasis? (290)

Answered: 1 week ago