This is for my accounting class thank you
Log into Cames O) MYSTATLAB G Google C Chegg We Los Foos Canvas The Home Depot Saved The following information applies to the questions displayed below.] Golden Corp, a merchandiser, recently completed its 2017 operations. For the year, (1) all sales are credit sales. (2) credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on crealit. (4) debits to Accounts Payable reflect cash payments for inventory. (5) Other Expenses are all cash expenses, and (6) a change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company's balance sheets and Income statement follow. GOLDEN CORPORATION Comparative Balance Sheets December 31, 2017 and 2016 2017 2816 Assets Cash 178, 828 $ 122,480 Accounts receivable 104,068 85,008 Inventory 622,080 540,908 Total current assets 904, 080 747, 408 Equipment 372, 708 313,830 Accum. depreciation Equipment (165,200] (111,800] Total assets $1, 111,700 $ 949,400 Liabilities and Equity Accounts payable $ 115,900 $ 85, 083 Income taxes payable 42,020 32, 180 Total current liabilities 157,900 117, 100 Equity Common stock, $2 par value 620,609 582, 820 Paid-in capital in excess of par value, common stock 210,008 181,080 Retained earnings 124,708 69,38a Total liabilities and equity $1, 111, 709 $ 949, 40 12 of 12 to search O Gich 9 - Ch 1 Exam #3 (Ch 9-12] X C Get Homework Help With C + httpwewconnect mheducation.com/flow/connect.html yahoomail : Log in to Canvas @ MYSTATLAS G Google C) Chegg W/ Los Ros Camas . The Home Depot income taxes payable 36, 100 Total current liabilities 157,808 117,180 Equity Common stock, $2 par value 620,808 582,803 Paid-in capital in excess of par value, common stock 210,800 181,800 Retained earnings 124,708 69, 308 Total liabilities and equity $1, 111,780 $ 949, 488 GOLDEN CORPORATION Income Statement For Year Ended December 31, 2817 Sales $1, 862,090 Cost of goods sold 1,100,038 Gross profit 762,920 Operating expenses Depreciation expense $ 54,090 Other expenses 505, 080 562,808 Income before taxes 200, 208 Income taxes expense 41.690 Net income $ 158,408 Additional Information on Your 2017 Transactions 5. Purchased equipment for $59,700 cash, h. Issued 13,400 shares of common stock for $5 cash per share. c. Declared and paid $103,000 In cash dividends, 12 of 12 pe here to search OTopic Exxon #3 (Ch 9 . Ch 1 Exam #3 (Ch 9-12) X C Get Homework Help With C + v 8 hup::ewconnect.mheducation.com/flowconnect.html Appfoli Ed yahoo mail { Log In to Cames @ MYSTATLAS G Google C) Chegg W. Los Rios Cameas The Home Depot Exam #3 (Ch 9-12) @ 12 Additional Information on Year 2017 Transactions a. Purchased equipment for $59,700 cash. b. Issued 13,400 shares of common stock for $5 cash per share. c. Declared and pald $103,000 in cash dividends. 75 point Required: Prepare a complete statement of cash flows: report its cash inflows and cash outflows from operating act indirect method. (Amounts to be deducted should be indicated with a minus sign.) GOLDEN CORPORATION Statement of Cash Flows For Year Ended December 31, 2017 Cash flows from operating activities Adjustments to reconofninel income to net cash provided by operations Cash flows from investing surveys & Prov 12 of 12 Type here to search e Gmatch 9 - Chi Exam #3 (Ch 9-12) C Get Homework Help With C + http:/ewconnectmbeducation.com/flow/connect.html yahoo mail . Log In to Canvas (@) MYSTATLAS G Google C) Chegg With Los Rios Carwas . The Home Depot #3 (Ch 9-12) ) Required information 2 Adjustments to reconcile net income to not cash provided by operations: Cash flows from investing activities Cash flows boom financing activities. Not increase [doctorse] in cash Cash balance at bopinning of your Cash balance of end of year
