Q4 Corporation financial statements at December 31 (in millions)ASSETSCashLIABILITIESAccounts payableNotes payableAccrued wagesAccrued taxesTotal current liabilities20X9S105.3.2.20X820X9$5101520X8$ 85.2.3.$ 4Accounts receivableInventory12Total current assetsLong-term debtCommon stockRetained carningsTotalNet fixed assets4040201020101520TotalSales $95, Cost of goods sold $50, Selling, general, and administrative expenses S15. Depreciation $3,Interest $2,Taxes $10(a) Prepare a flow of funds statement for 20X9 for the Corporation(b) Prepare a cash flow statement using the indircct method for Corporation.

In the given question, we are given the Financial Statement for December 31, 2019, and we are…

Q4 Corporation financial statements at December 31 (în millions) ASSETS Cash Accounts receivable Inventory 20X8 $4 20X9 20X8 $ 8 20X9 LIABILITIES Accounts payable Notes payable Accrued wages Accrued taxes $10 $5 10 5. 12 15 4. Total current assets Net fixed assets Total current liabilities Long-term debt Common stock Retained carnings 40 40 20 10 15 20 10 20 Total Total Sales $95, Cost of goods sold $50, Selling, general, and administrative expenses S15, Depreciation $3,Interest $2, Taxes $10 (a) Prepare a flow of funds statement for 20X9 for the Corporation (b) Prepare a cash flow statement using the indirect method for Corporation. 0n32 523

Q4 Corporation financial statements at December 31 (în millions) ASSETS Cash Accounts receivable Inventory 20X8 $4 20X9 20X8 $ 8 20X9 LIABILITIES Accounts payable Notes payable Accrued wages Accrued taxes $10 $5 10 5. 12 15 4. Total current assets Net fixed assets Total current liabilities Long-term debt Common stock Retained carnings 40 40 20 10 15 20 10 20 Total Total Sales $95, Cost of goods sold $50, Selling, general, and administrative expenses S15, Depreciation $3,Interest $2, Taxes $10 (a) Prepare a flow of funds statement for 20X9 for the Corporation (b) Prepare a cash flow statement using the indirect method for Corporation. 0n32 523

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 1E

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