Balance sheel-debit balance accounts
Cash
of Cash Flows
Current Year Ended December 31
Part 2 of 3
December 31, Prior
Analysis of Changes
Debit
Credit
December 31,
Current
180,000
Skipped
124,600
Accounts receivable
87.000
Inventory
542,000
Equipment
315,000
1,068.600
$
180,000
Balance sheet-credit balance acco
Accumulated depreciation Equipment
$
112,000
Accounts payable
87,000
Income taxes payable
33,100
Common stock, $
584,000
Paid-in capital in excess of par value, common stock
Retained eamings
681
1,068,600
Operating
nvesting activities
[The following information applies to the questions displayed below)
Golden Corporation's current year income statement, comparative balance sheets, and additional
Information follow. For the year,
(1) all sales are credit sales,
(2) all credits to Accounts Receivable reflect cash receipts from customers,
(3) all purchases of inventory are on credit,
(4)
all debits to. Accounts Payable reflect cash payments for Inventory, and
(5) any change in Income Taxes Payable reflects the accrual and cash payment of taxes.
GOLDEN CORPORATION
Comparative Balance Sheets
December 31
Inventory
Total current
ciation Equipment
Total
Liabilities and Equity
Accounts payable
yable
Total current liabilities
Equity
Common stock, $2 par
capital in excess
etained earnings
liabilities
Cost of goods sold
profit
equity
value,
GOLDEN CORPORATION
Current Year Ended Dece
Operati
(excluding depreciation)
Depreciation expen
exp
31
$ 1,872,000
1,102,000
770,000
Additional Information on Current Year Transactions
Purchased equipment for $63,100 cash.
b. Issued 13,600 shares of common stock for $5 cash per share
Declared and paid $105,000 in cash dividends.
