need help with accounting assignment Denver, Inc. has prepared the following comparative balance sheets for 20x0 and 20x
Posted: Mon May 02, 2022 6:34 am
need help with accounting assignment
Denver, Inc. has prepared the following comparative balance
sheets for 20x0 and 20x1:
20x1
20x0
Cash
75,000
51,000
A/R
48,000
39,000
Inventory
54,000
60,000
Prepaid
Expense
6,000
9,000
Building
440,000
350,000
Accum. Depr.
(145,000)
(125,000)
Copyright
51,000
58,000
A/P
51,000
56,000
Accrued
Liabilities
18,000
14,000
Mortgage
Payable
-
150,000
Preferred
Stock
175,000
-
PCIEP –
Pref.
30,000
-
Common
Stock
200,000
200,000
R/E
55,000
22,000
Sales
660,000
Cost of
sales
363,000
Gross
profit
297,000
Operating
expenses 210,000
Net
income
87,000
From the information above, prepare a statement of cash
flows (operating, investing and financing activities) for the year
ended December 31, 20x1. Use the indirect method for the
operating activities.
Denver, Inc. has prepared the following comparative balance
sheets for 20x0 and 20x1:
20x1
20x0
Cash
75,000
51,000
A/R
48,000
39,000
Inventory
54,000
60,000
Prepaid
Expense
6,000
9,000
Building
440,000
350,000
Accum. Depr.
(145,000)
(125,000)
Copyright
51,000
58,000
A/P
51,000
56,000
Accrued
Liabilities
18,000
14,000
Mortgage
Payable
-
150,000
Preferred
Stock
175,000
-
PCIEP –
Pref.
30,000
-
Common
Stock
200,000
200,000
R/E
55,000
22,000
Sales
660,000
Cost of
sales
363,000
Gross
profit
297,000
Operating
expenses 210,000
Net
income
87,000
From the information above, prepare a statement of cash
flows (operating, investing and financing activities) for the year
ended December 31, 20x1. Use the indirect method for the
operating activities.