Problem 1: ABC Company, an entity organized on January 1, 2018, provided the following information: 2020 4,250,000 3,000,000 1,400,000 4,500,000 2,000,000 6,500,000 3,000,000 1,650,000 8,000,000 2,200,000 5,200,000 3,000,000 1,700,000 100,000 500,000 350,000 2019 Cash and cash equivalents Inventory Equipment, net Land Current liabilities (all monetary) Noncurrent liabilities (all monetary) Share capital Retained earnings Sales Inventory, January 1 Purchases 3,000,000 2,200,000 1,500,000 4,500,000 1,500,000 6,000,000 3,000,000 700,000 Inventory, December 31 Operating expenses (excluding depreciation) Depreciation Income tax expense Cash dividend paid on December 31, 2020 Additional information: 1. The pertinent index numbers are: January 1, 2018 - 100 January 1, 2019 - 100 2. The land and equipment were acquired on January 1, 2018. December 31, 2019 – 120 December 31, 2020 – 200
Problem 1: ABC Company, an entity organized on January 1, 2018, provided the following information: 2020 4,250,000 3,000,000 1,400,000 4,500,000 2,000,000 6,500,000 3,000,000 1,650,000 8,000,000 2,200,000 5,200,000 3,000,000 1,700,000 100,000 500,000 350,000 2019 Cash and cash equivalents Inventory Equipment, net Land Current liabilities (all monetary) Noncurrent liabilities (all monetary) Share capital Retained earnings Sales Inventory, January 1 Purchases 3,000,000 2,200,000 1,500,000 4,500,000 1,500,000 6,000,000 3,000,000 700,000 Inventory, December 31 Operating expenses (excluding depreciation) Depreciation Income tax expense Cash dividend paid on December 31, 2020 Additional information: 1. The pertinent index numbers are: January 1, 2018 - 100 January 1, 2019 - 100 2. The land and equipment were acquired on January 1, 2018. December 31, 2019 – 120 December 31, 2020 – 200
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
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 14GI: Dunn Company recognized a 5,000 unrealized holding gain on investment in Starbuckss long-term bonds...
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