Problem 3-17 Sources and Uses of Cash (LO1) Birtle Corporation reports the following statement of...
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Accounting
Problem 3-17 Sources and Uses of Cash (LO1)
Birtle Corporation reports the following statement of financial position information for 2017 and 2018.
BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position
Assets
Liabilities and Owners Equity
2017
2018
2017
2018
Current assets
Current liabilities
Cash
$
9,279
$
11,173
Accounts payable
$
41,060
$
43,805
Accounts receivable
23,683
25,760
Notes payable
16,157
16,843
Inventory
42,636
46,915
Total
$
75,598
$
83,848
Total
$
57,217
$
60,648
Long-term debt
$
40,000
$
35,000
Fixed assets
Owners equity
Net plant and equipment
$
272,047
$
297,967
Common stock and paid-in surplus
$
50,000
$
50,000
Retained earnings
200,428
236,167
Total
$
250,428
$
286,167
Total assets
$
347,645
$
381,815
Total liabilities and owners equity
$
347,645
$
381,815
For each account on Birtle Corporations statement of financial position, show the change in the account during 2018 and note whether this change was a source or use of cash. (If there is no action select "None" from the dropdown options. Do not leave any empty spaces; input a 0 wherever it is required. Negative answers should be indicated by a minus sign. Omit $ sign in your response.)
2017
Change
Sources/Uses
2018
Assets
Current assets
Cash
$
9,279
$
-
$
11,173
Accounts receivable
23,683
(Click to select) Source Use None
25,760
Inventory
42,636
(Click to select) Source Use None
46,915
Total
$
75,598
$
(Click to select) Source Use None
$
83,848
Fixed assets
Net plant and equipment
$
272,047
$
(Click to select) Source Use None
$
297,967
Total assets
$
347,645
$
(Click to select) Source Use None
$
381,815
Liabilities and Owners Equity
Current liabilities
Accounts payable
$
41,060
$
(Click to select) Source Use None
$
43,805
Notes payable
16,157
(Click to select) Source Use None
16,843
Total
$
57,217
$
(Click to select) Source Use None
$
60,648
Long-term debt
$
40,000
$
(Click to select) Source Use None
$
35,000
Owners' equity
Common stock and paid-in surplus
$
50,000
$
(Click to select) Source Use None
$
50,000
Accumulated retained earnings
200,428
(Click to select) Source Use None
236,167
Total
$
250,428
$
(Click to select) Source Use None
$
286,167
Total liabilities and owners' equity
$
347,645
$
(Click to select) Source Use None
$
381,815
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