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The following financial statements and additional information are reported Ichibon Inc. comparative balance sheets at June 3 0 , 2 0 2 1 2 0
The following financial statements and additional information are reported Ichibon Inc. comparative balance sheets at June assets cash accounts receivable net inventory prepaid expenses total current assets equipment for for accumulated depreciation equipment total assets liabilities and equity accounts payable wages payable income tax payable total current liabilities notes payable longterm total liability is equity common stock five dollars par value retained earnings total liabilities and equity for for Caban incorporated income statement for your ended June sales cost of good sold cruise profit operating expenses excluding depreciation depreciation expense the total of that is other gains losses gain on sale of equipment income before taxes income taxes expense income additional information a a $ note payable is retired at its caring book value and exchange for cash be the only charges affecting retainer earnings are net income and cash dividends paid see new equipment is acquired for cash D receive cash for the sale of equipment that cost yielding a $ gain E prepared expenses wages payable related to operating expenses on the income statement F all purchases and sales of the inventory are on credit one prepare a statement of cash flows using the indirect method for the year of June no amounts to be deducted should be indicated with the minus sign
The following financial statements and additional information are reported Ichibon Inc. comparative balance sheets at June assets cash accounts receivable net inventory prepaid expenses total current assets equipment for for accumulated depreciation equipment total assets liabilities and equity accounts payable wages payable income tax payable total current liabilities notes payable longterm total liability is equity common stock five dollars par value retained earnings total liabilities and equity for for Caban incorporated income statement for your ended June sales cost of good sold cruise profit operating expenses excluding depreciation depreciation expense the total of that is other gains losses gain on sale of equipment income before taxes income taxes expense income additional information a a $ note payable is retired at its caring book value and exchange for cash be the only charges affecting retainer earnings are net income and cash dividends paid see new equipment is acquired for cash D receive cash for the sale of equipment that cost yielding a $ gain E prepared expenses wages payable related to operating expenses on the income statement F all purchases and sales of the inventory are on credit one prepare a statement of cash flows using the indirect method for the year of June no amounts to be deducted should be indicated with the minus sign
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