ES Problem 13-7A [2] Your answer is partially correct. Try again. Presented belo
ID: 2585569 • Letter: E
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ES Problem 13-7A [2] Your answer is partially correct. Try again. Presented below are the financial statements of Rajesh Company. Rajesh Company Comparative Balance Sheets December 31 2014 $37,570 32,560 29,920 59,670 2013 sets Cash Accounts receivable Inventory Equipment 20,730 18,300 20,050 77,550 Accumulated depreciation-equipment(29,420) (23,840) Total $130,300 $112,790 Liabilities and Stockholders' Equit Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,220 16,050 8,030 33,710 14,260 40,740 $130,300 112,790 7,040 27,060 18,900 49,080 Total Rajesh Company Income Statement OCY.Policy I 2000-201ZJohnyyley.ASans.Inc, All Rights Reserved. A Division oQohnwilevasens, inc.Explanation / Answer
STATEMENT OF CASH FLOW Amount in $ Amount in $ Net income $ 30,170 Cash flows from operating activities Adjustments for: Depreciation of the year $ 13,700 $ 13,700 (Increase) / Decrease in Account receivables $ -14,260 Inventory Decrease / (Increase) $ -9,870 Income Taxes Payable $ -990 Accounts payable Increase / ( Decrese) $ 12,170 $ -12,950 Net cash from operating activities $ 30,920 Cash flows from investing activities Sale of Equipment $ 9,760 Prucase of Equipment Net cash used in investing activities $ 9,760 Cash flows from Financing activities Bonds Payable $ -6,650 Dividend Paid $ -21,830 Issue of common sTock $ 4,640 Net cash used in financing activities $ -23,840 Net increase in cash and cash equivalents $ 16,840 Add :Cash and cash equivalents at beginning of period $ 20,730 Cash and cash equivalents at end of period $ 37,570
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