Exercise 12-7 shown below are comparative balance sheets for splish brothers company. splish brothers company comparative balance sheets december 31 assets 2017 2016 cash $ 105,808 $ 34,232 accounts receivable 136,928 118,256 inventory 259,852 294,084 land 124,480 155,600 equipment 404,560 311,200 accumulated depreciation—equipment (102,696 ) (49,792 ) total $928,932 $863,580 liabilities and stockholders’ equity accounts payable $ 60,684 $ 66,908 bonds payable 233,400 311,200 common stock ($1 par) 336,096 270,744 retained earnings 298,752 214,728 total $928,932 $863,580 additional information: 1. net income for 2017 was $144,708. 2. depreciation expense was $52,904. 3. cash dividends of $60,684 were declared and paid. 4. bonds payable amounting to $77,800 were redeemed for cash $77,800. 5. common stock was issued for $65,352 cash. 6. no equipment was sold during 2017. 7. land was sold for its book value. prepare a statement of cash flows for 2017 using the indirect method. (show amounts that decrease cash flow with either a - sign e. g. -15,000, or in parenthesis e. g. (15, splish brothers company statement of cash flows $ adjustments to reconcile net income to $ $ click if you would like to show work for this question: open show work
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Business, 22.06.2019 11:10, nadinealonzo6121
Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.
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Business, 22.06.2019 23:30, mccarthyrookie6491
Which statement best describes entrepreneurship aitmakes people very rich b it relies on large financial investments c it is only possible in the retail industry d it requires creativity and ambition
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Exercise 12-7 shown below are comparative balance sheets for splish brothers company. splish brother...
Mathematics, 26.08.2020 03:01
Mathematics, 26.08.2020 03:01
Mathematics, 26.08.2020 03:01
Mathematics, 26.08.2020 03:01
Mathematics, 26.08.2020 03:01
Mathematics, 26.08.2020 03:01
Mathematics, 26.08.2020 03:01