Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. complete the following statment of cash flows

Complete the following Statment of Cash Flows ACC102 Thistle Inc. Comparative...

60.1K

Verified Solution

Question

Accounting

Complete the following Statment of Cash Flows
image
ACC102 Thistle Inc. Comparative Balance Sheets Asset5: Current Assets: Cash Accounts Receivable (net) Merchandise Inventory Prepaid Expenses Total Current Assets 2021December31. Long-Term Investments Plant Assets: Property, Plant \& Equipment Accumulated Depreciation Total Plant Assets Total Assets Equities: Current Liabilities: Accounts Payable Accrued Expenses Total Current Liabilities Long-Term Notes Payable Stockholders' Equity: Common Stock Paid -in-Capital Retained Eamings Total Equities 5690,0001,560,0001,950,0004,551,000351,000225,000$540,0001,080,0001,260,0003,195,000315,00050,000 Thistle, Inc. Comparative Income Statements FYE December 31, 2018 Net Credit Sales Cost of Goods Sold Gross Profit Expenses Loss on Sale of Investment Net Income 51,275,00011,584,000309,000825,000$1,095,0001,377,000282,0000 \begin{tabular}{rr} 3,150,000 & 2,400,000 \\ 20,000 & 10,000 \\ $6,516,000937,000 & $4,365,000578,000 \\ \hline \end{tabular} Additional Information: Investments originally costing $50,000 were sold for $40,000, No PPE was sold

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students