Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

tollowing financial statements and additional information to prepare the entire statement t cash flows for the year ended December 31, 2012 using the direct method.

image text in transcribed
image text in transcribed
tollowing financial statements and additional information to prepare the entire statement t cash flows for the year ended December 31, 2012 using the direct method. Derby Company Balance Sheets December 31 2012 2011 Change Assets: $ 85,600 65,200 20,400 16,100 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Equipment Accumulated depreciation-Equipment 72,850 157,750 6,080 280,600 56,750 144,850 12,900 (6,600) 245,600 35,000 (80.600) (97.600) 17.000 $522,280 $427.48Q 94,800 12,680 Total assets Liabilities: Accounts payable Income taxes payable Notes payable (long term) 15,240 59,200 00(20,000) 52,850 45,450 12,240 7,400 3,000 Total liabilities $127,290 $136,890 Equity: Common stock Paid-in capital in excess of par Retained earnings 150,000 141.990 100,590 41,400 $522,280 $427 480 94,800 200,000 53,000 50,000 13,000 40,000 Total equity Total liabilities and equity $394.990 $290,590

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

Cloud Security Auditing

Authors: Suryadipta Majumdar, Taous Madi, Yushun Wang, Azadeh Tabiban, Momen Oqaily, Amir Alimohammadifar, Yosr Jarraya, Makan Pourzandi, Lingyu Wang, Mourad Debbabi

1st Edition

3030231305, 978-3030231309

Students also viewed these Accounting questions

Question

Random Variables Joint densities y Answered: 1 week ago

Answered: 1 week ago