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present the statement of cash flows for 2013 Lab C12 ACC120-11 Formulas Data Review Vie Page Layout Insert Home File Colors Margins Orientation Size Print
present the statement of cash flows for 2013
Lab C12 ACC120-11 Formulas Data Review Vie Page Layout Insert Home File Colors Margins Orientation Size Print Breaks Background Print Area A FontsMargins Themes Effects Titles Page Setup 800 Income Statement For the year ended December 31, 2013 S 127,900 8 Sales revenue 9 Cost of goods sold 10 Gross margin 11 Selling expense 12 Administrative expense 13 Salaries expense 14 Depreciation expense 15 Interest expense 16 Income before gain and taxes 17 Gain on sale of equipment 18 Income tax expense 19 Net income 58,100 s 13,000 8,000 20,000 ,900 900 Addison Controls Comparative Balance Sheet As of December 31 2012 S 4,300 2013 26 27 Cash $ 5,100 6,300 28 Accounts receivable, net 29 Inventory 80 Total current assets 81 Property, plant & equipment, ne 32 Total Assets ,000) ,000) ,000 ,000 44,000 43,100 $ 3,400 2,400 2 100 S 5,900 S 34 Accounts payable $20,00035 Accrued expenses 2,200 36 Taxes payable 37 Bonds payable 38 Total liabilities 39 Common stock 125,000 125,000 40 Retained earnings 41 Total stockholders equity 42 Total liabilities & stockholders 49 SE 45 Equipment with an original cost or $35,000 was sold for $20,300. The book value of the equipment was $19,400 4 47 On June 1, 2013 the company purchased new equipment for $17,500 cash. 48 At the end of the vear, the company issued bonds payable for $10,000 cash. The company paid $23,200 in cosh dividends for the year 50 49 52 Present the statement of cash flows for 2013 Sheetl ReadyStep by Step Solution
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