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Income Statement UCF Bleycle Vending Machine Company For Perfod Ending December 31, 20xx 1,000,000 750,000 Revenue Cost of goods sold

Income Statement UCF Bleycle Vending Machine Company For Perfod Ending December 31, 20xx 1,000,000 750,000 Revenue Cost of goods sold

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2E: Cost of Goods Sold and Income Statement Schuch Company presents you with the following account...
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Income Statement UCF Bleycle Vending Machine Company For Perfod Ending December 31, 20xx Revenue Cost of goods sold Gross Profit 1,000,000 750,000 250,000 Expenses: Depreciation Expense Sales, General & Administrative Expenses Total Expenses Operating Income Gain on sale of Equipment Net income 25,000 80,000 105,000 145,000 25,000 170,000 Balance Sheet UCF Bicycle Vending MMachine Company December 3I, 20xx Current Year Prior Year Assets Current Assets Cash 175,000 50.000 Accounts Recen able 750.000 Inventory 330,000 400.000 பங்து ToalAssetN 500.000. 1000.000
Transcribed Image Text:Income Statement UCF Bleycle Vending Machine Company For Perfod Ending December 31, 20xx Revenue Cost of goods sold Gross Profit 1,000,000 750,000 250,000 Expenses: Depreciation Expense Sales, General & Administrative Expenses Total Expenses Operating Income Gain on sale of Equipment Net income 25,000 80,000 105,000 145,000 25,000 170,000 Balance Sheet UCF Bicycle Vending MMachine Company December 3I, 20xx Current Year Prior Year Assets Current Assets Cash 175,000 50.000 Accounts Recen able 750.000 Inventory 330,000 400.000 பங்து ToalAssetN 500.000. 1000.000
145,000 Onin on sale of Bquipaent Net Income 25,000 170,000 Balance Sheet UCF Bicycle Vending Machine Company December 31, 20x Current Year Prior Year Change Assets Current Assets Cash 175,000 50,000 125,000 Accounts Receivable (10,000) 30,000 140,000 150,000 Inventory Long-term Assets Equipment * Total Assets 330,000 300,000 450,000 500,000 (50,000) 1,095,000 1,000,000 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Deferred Revenue (145.000) 25,000 155,000 300.000 225.000 25.000 200.000 50,000 (25.000) Warranty Payable Long-term Liabilities Long-term Debr* Stockholders' Equity 300,000 250,000 50.000 Common Stock***. Retained Farning**** Total Linbilities and Stockhokders Equity 50,000 140,000 150.000 100,000 100,000 1.000.000 240,000 1,095.000 7.550.000 of equpment wassold for Cash diring the year * New S50.000 notes payable was signed in exchange for cash durng the year. *New stock was isstied dug the vear for cash n the amount of S50,000. ** Dividends paid during the yeat equaled $30.000
Transcribed Image Text:145,000 Onin on sale of Bquipaent Net Income 25,000 170,000 Balance Sheet UCF Bicycle Vending Machine Company December 31, 20x Current Year Prior Year Change Assets Current Assets Cash 175,000 50,000 125,000 Accounts Receivable (10,000) 30,000 140,000 150,000 Inventory Long-term Assets Equipment * Total Assets 330,000 300,000 450,000 500,000 (50,000) 1,095,000 1,000,000 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Deferred Revenue (145.000) 25,000 155,000 300.000 225.000 25.000 200.000 50,000 (25.000) Warranty Payable Long-term Liabilities Long-term Debr* Stockholders' Equity 300,000 250,000 50.000 Common Stock***. Retained Farning**** Total Linbilities and Stockhokders Equity 50,000 140,000 150.000 100,000 100,000 1.000.000 240,000 1,095.000 7.550.000 of equpment wassold for Cash diring the year * New S50.000 notes payable was signed in exchange for cash durng the year. *New stock was isstied dug the vear for cash n the amount of S50,000. ** Dividends paid during the yeat equaled $30.000
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Step 1

Cash flow financial activities include 

Change in long term debt 

Change in common stock 

Change in retained earnings 

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