Here are the most recent balance sheets for Country Kettles, Inc. Excluding accu

Question

Here are the most recent balance sheets for Country Kettles, Inc. Excluding accumulated depreciation, determine whether each item is a source or a use of cash, and the amount. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Input all amounts as positive values): COUNTRY KETTLES, INC. Balance Sheet December 31, 2016 2015 2016 Assets Cash $ 30,700 $ 29,820 Accounts receivable 70,200 73,240 Inventories 61,100 63,250 Property, plant, and equipment 150,000 159,400 Less: Accumulated depreciation (46,160 ) (50,200 ) Total assets $ 265,840 $ 275,510 Liabilities and Equity Accounts payable $ 45,200 $ 47,320 Accrued expenses 6,580 5,860 Long-term debt 25,900 28,450 Common stock 19,000 23,300 Accumulated retained earnings 169,160 170,580 Total liabilities and equity $ 265,840 $ 275,510 Item Source/Use Amount Cash (Click to select)UseSource $ Accounts receivable (Click to select)SourceUse $ Inventories (Click to select)SourceUse $ Property, plant, and equipment (Click to select)UseSource $ Accounts payable (Click to select)SourceUse $ Accrued expenses (Click to select)UseSource $ Long-term debt (Click to select)SourceUse $ Common stock (Click to select)SourceUse $ Accumulated retained earnings (Click to select)UseSource $

Explanation / Answer

2015 2016 Increase / ( Decrease) Source / use Amount Cash 30700 29820 880 Source 880 Accounts receivable 70200 73240 -3040 use 3040 Inventories 61100 63250 -2150 use 2150 PPE 150000 159400 -9400 use 9400 Less accumulated depriciation -46160 -50200 4040 Total Assets 265840 275510 -9670 Accounts payable 45200 47320 -2120 use 2120 Accrued expenses 6580 5860 720 Source 720 long term debt 25900 28450 -2550 Source 2550 common stock 19000 23300 -4300 Source 4300 Accumulated retained earnings 169160 170580 -1420 Source 1420 Total libilities and equity 265840 275510 -9670

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

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