Comparative Balance Sheets
December 31
Current Year Prior Year
Assets
Cash $ 32,...
Business, 06.11.2020 14:00, chrismeldajbaptiste
Comparative Balance Sheets
December 31
Current Year Prior Year
Assets
Cash $ 32,300 $ 32,400
Accounts receivable, net 10,600 13,000
Inventory 95,100 75,100
Total current assets 138,000 120,500
Equipment 52,700 44,500
Accum. depreciation—Equipment (23,800 ) (16,500 )
Total assets $ 166,900 $ 148,500
Liabilities and Equity
Accounts payable $ 25,300 $ 27,400
Salaries payable 500 600
Total current liabilities 25,800 28,000
Equity
Common stock, no par value 117,300 107,400
Retained earnings 23,800 13,100
Total liabilities and equity $ 166,900 $ 148,500
MONTGOMERY INC.
Income Statement
For Current Year Ended December 31
Sales $ 46,200
Cost of goods sold (19,200 )
Gross profit 27,000
Operating expenses
Depreciation expense $ 7,300
Other expenses 5,600
Total operating expense 12,900
Income before taxes 14,100
Income tax expense 3,400
Net income $ 10,700
Additional Information on Current-Year Transactions
No dividends are declared or paid.
Issued additional stock for $9,900 cash.
Purchased equipment for cash; no equipment was sold.
1. Use the above information to prepare a statement of cash flows for the current year using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)
Answers: 3
Business, 22.06.2019 01:50, Kana81
You are an employee of an u. s. firm that produces personal computers in thailand and then exports them to the united states and other countries for sale. the personal computers were originally produced in thailand to take advantage of relatively low labor costs and a skilled workforce. other possible locations considered at that time were malaysia and hong kong. the u. s. government decides to impose punitive 100% ad valorem tariffs on imports of computers from thailand to punish the country for administrative trade barriers that restrict u. s. exports to thailand. how do you think your firm should respond? what does this tell you about the use of targeted trade barriers?
Answers: 3
Business, 22.06.2019 19:00, leeenaaa95
What is an equation of the line in slope intercept formm = 4 and the y-intercept is (0,5)y = 4x-5y = -5x +4y = 4x + 5y = 5x +4
Answers: 1
Business, 23.06.2019 02:50, seanisom7
Ll companies has sales of $9,800, net income of $1,060, total assets of $8,950, and total debt of $4,760. assets and costs are proportional to sales. debt and equity are not. a dividend of $371 was paid, and the company wishes to maintain a constant payout ratio. next year's sales are projected to be $10,584. what is the amount of the external financing need?
Answers: 3
Spanish, 19.07.2019 23:00
History, 19.07.2019 23:00
Mathematics, 19.07.2019 23:00
Mathematics, 19.07.2019 23:00
Mathematics, 19.07.2019 23:00