Introduction to Financial Accounting Practice Problems for Chapter 14 1. PrettyT

Question

Introduction to Financial Accounting Practice Problems for Chapter 14 1. PrettyTools Given the Transaction Table and Financial Statements below: Transaction Table for PrettyTools - Change in Liabilities + Change in Equity Revenue Change in Assets Date/Event 12/01/2011 Declare Revenue 12/02/11 Get a loarn 12/02/11 Purchase Inventory 12/05/11 Pay Dividend 12/15/11 Write Down PPE 12/30/11 Buy PPE 12/31/11 Record COGS 12/31/11 Record Depreciation 12/31/11 Record SGA Expense 12/31/11 Record/Pay Interest Expense 1 Cash 1_Cash Inventory 800.00 800.00 150.00 Loan_Long-term 150.00 150.00 AP 150.00 1 Cash 100.00 Dividend 100.00 50.00 20.00 -400.00 400.00 100.00 PPE Write Down 30.00 PPE, net MiscAsset-PPE 1 Cash PPE, net Inventory COGS 100.00 PPE, net 50.00 Depreciation 50.00 Accrued Expenses 50.00 SGA 50.00 1 Cash 100.00 Interest 100.00 PrettyTools 01/01/1 to 12/31/11 Cash Flow Statement Direct Method, For Period 1. Operating PrettyTools 01/01/i to 12/31/11 Income Statement For Period Revenue COGS Depreciation SGA Interest PPEWriteDown Net Income ue Interest .100 Total 700 2. Investing 470 PPE, net 400 Total -400 3.Financing Long-term Loan Dividend Total 50 Total Cash Flow 350 PRACTICE PROBLEMS PAGE 1 Global Page 1209

Explanation / Answer

Sources & Uses of Cash

Sources of Cash Revenue 800 Long term debt issued 150 Total Sources 950

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.