MONTGOMERY INC Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 A

Question

MONTGOMERY INC Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Assets Cash Accounts receivable, net Inventory Total current assets Equipment Accum. depreciation-Eguipment Total assets Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity $ 32,300 32,400 13,000 75,100 120,500 44,500 10,600 95,100 138,000 52,700 23,800) (16,500) $166,900 $148,500 $ 25,300 500 25,800 27,400 600 28,000 107,400 13,100 $166,900 $148,500 117,300 23,800

Explanation / Answer

Statement of cash flow :

Cash flow from operating activities Net income 10700 Adjustment to reconcile net income Depreciation exp 7300 Decrease account receivable 2400 Increase inventory (20000) Decrease account payable (2100) Decrease salary payable (100) Net cash flow from operating activities (1800) Cash flow from investing activities Purchase equipment (8200) Net cash flow from investing activities (8200) Cash flow from financing activities Issue common stock 9900 Net cash flow from financing activities 9900 Net cash flow (100) Beginning cash 32400 Ending cash 32300

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