P12-7A Financial Accounting B1/2/3 re a statement of cash flow s-indirect method
ID: 2454276 • Letter: P
Question
P12-7A Financial Accounting
B1/2/3
re a statement of cash flow s-indirect method, and compute cash-based ratios. Presented below are the financial statements of Kurtzel Company KURTZEL COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Invento 2014 2013 535,000 20.000 28,000 60.000 2.000) 111.000 20,000 4.000 20.000 78,000 24.000 $108,000 perty, plant, and e Accumulated de Total Liabilities and Stockholders' Equitv Accounts payable Income taxes payable Bonds payable Common stock Retained eanings Total ent ation $19,000 7.000 17.000 18,000 50.000 111.000 15,000 8,000 33.000 4.000 38.000 108.000 KURTZEL COMPANY Income Statement For the Year Ended December 31,2014 242,000 175.000 67,000 Sales Cost of goods sold Gross profit Selling Administrative e Income from Interest expense Income before income taxes Income tax expense Net income S18,000 6,000 enses 24.000 43,000 3.000 40.000 8000 532.000 ses ations Additional data 1. Depreciation expense was $17,500 2. Dividends declared and paid were $20,000 Durng originally and had accumulated depreciation of ear equipment was sold for $8.500 cash. This equipment cost$18.000 S9,500 at the time of saleExplanation / Answer
P12-7A Financial Accounting B1/2/3 re a statement of cash flow s-indirect method
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.