The comparative balance sheets, income statement and additional information of Harold Corporation are presented as follows. Harold Corporation Balance Sheet At 31 December 2020 2019 Assets 56,500 74,100 519,000 17,100 Cash 71,550 90,750 490,200 19,200 Accounts Receivable Inventory Prepaid Rent Equipment Accumulated Depreciation-Equipment- Building Accumulated Depreciation – Building Total Assets 278,250 216,000 (108,750) (93,000) 210,000 (52,250) 993,950 90,000 (42,500) 842,200 Liabilities and Stockholders' Equity Liabilities Accounts Payable Unearned Revenue Notes Payable (long-term) Total Liabilities 181,950 123,450 17,250 11,250 242,500 172,500 441,700 307,200 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 450,000 483,000 69,250 552,250 993,950 85,000 535,500 842,200

The comparative balance sheets, income statement and additional information of Harold Corporation are presented as follows. Harold Corporation Balance Sheet At 31 December 2020 2019 Assets 56,500 74,100 519,000 17,100 Cash 71,550 90,750 490,200 19,200 Accounts Receivable Inventory Prepaid Rent Equipment Accumulated Depreciation-Equipment- Building Accumulated Depreciation – Building Total Assets 278,250 216,000 (108,750) (93,000) 210,000 (52,250) 993,950 90,000 (42,500) 842,200 Liabilities and Stockholders' Equity Liabilities Accounts Payable Unearned Revenue Notes Payable (long-term) Total Liabilities 181,950 123,450 17,250 11,250 242,500 172,500 441,700 307,200 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 450,000 483,000 69,250 552,250 993,950 85,000 535,500 842,200

Name: Prepare the statement of cash flows for the year ended 31 December 202
Uploaded: 2024-03-05T11:47:04.000Z
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Description: Prepare the statement of cash flows for the year ended 31 December 2020, using the indirect method. Harold CorporationIncome StatementFor the Year Ended 31 December 2020$Revenue1,083,000Cost of goods soldOperating expensesLoss on sale of equipmentТах

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...

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