Homework Help is Here – Start Your Trial Now!
Business
Accounting
PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or Decrease (D) 2018 2017 $95,000 $81,500 Cash $13,500 (1) Accounts receivable 46,700 52,500 68,000 51,500 3,600 38,000 33,500 4,300 6,500 Inventory Prepaid rent Accounts payable Income tax payable 5,800 (D) 16,500 (1) 1,300 (D) 4,500 (1) 2,200 (D) 2,300

PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or Decrease (D) 2018 2017 $95,000 $81,500 Cash $13,500 (1) Accounts receivable 46,700 52,500 68,000 51,500 3,600 38,000 33,500 4,300 6,500 Inventory Prepaid rent Accounts payable Income tax payable 5,800 (D) 16,500 (1) 1,300 (D) 4,500 (1) 2,200 (D) 2,300

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 3SEA: MULTIPLE-STEP INCOME STATEMENT Use the following information to prepare a multiple-step income...
See similar textbooks
icon
Related questions
Question
100%
PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2017 2018 $95,000 $81,500 Decrease (D) Cash $13,500 (1) Accounts receivable 46,700 52,500 Inventory Prepaid rent Accounts payable Income tax payable 68,000 2,300 38,000 33,500 4,300 5,800 (D) 16,500 (1) 1,300 (D) 4,500 (1) 2,200 (D) 51,500 .3,600 6,500 Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct method. outflows as negative amounts.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2018 Cash flows from operating activities: < Prev 53 of 56 Next > tv MacBook Air > F7 FB F9 F1 F2 F3 F4 & 7 8. W E
Transcribed Image Text:PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2017 2018 $95,000 $81,500 Decrease (D) Cash $13,500 (1) Accounts receivable 46,700 52,500 Inventory Prepaid rent Accounts payable Income tax payable 68,000 2,300 38,000 33,500 4,300 5,800 (D) 16,500 (1) 1,300 (D) 4,500 (1) 2,200 (D) 51,500 .3,600 6,500 Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct method. outflows as negative amounts.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2018 Cash flows from operating activities: < Prev 53 of 56 Next > tv MacBook Air > F7 FB F9 F1 F2 F3 F4 & 7 8. W E
Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2018 Net sales $1,625,000 Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense $980,000 490,000 43,000 33,000 Total expenses 1,546,000 Net income $ 79,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2018 2017 $95,000 $81,500 Decrease (D) Cash $13,500 (1) aw < Prev 53 of 56 Nex tv MacBook Air
Transcribed Image Text:Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2018 Net sales $1,625,000 Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense $980,000 490,000 43,000 33,000 Total expenses 1,546,000 Net income $ 79,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2018 2017 $95,000 $81,500 Decrease (D) Cash $13,500 (1) aw < Prev 53 of 56 Nex tv MacBook Air
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Balance Sheet Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
SWFT Corp Partner Estates Trusts
SWFT Corp Partner Estates Trusts
Accounting
ISBN:
9780357161548
Author:
Raabe
Publisher:
Cengage
SEE MORE TEXTBOOKS