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BUS FP3061 McAndrewVanessa Assessment3 Attempt2 part 2

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BUS-FP3061 Fundamentals of Accounting Assessment 3, Part 2 Template Instructions: Download and save a copy of this Excel file. Using the information from this worksheet, prepare the cash flow statement on the next worksheet. Skylar Enterprises, Inc. Comparative Balance Sheets Assets Cash Accounts receivable Inventory Land Equipment Accum. Depreciation - Equipment Total Liabilities and Equities Accounts payable Bonds payable Common stock Retained earnings Total 12/31/2012 $73,000 $85,000 $170,000 $75,000 $260,000 -$66,000 $597,000 1/1/2012 $22,000 $76,000 $189,000 $100,000 $200,000 -$32,000 $555,000 Difference $51,000 $9,000 $19,000 $25,000 $60,000 $34,000 $39,000 $150,000 $216,000 $192,000 $597,000 $47,000 $200,000 $174,000 $134,000 $555,000 $8,000 $50,000 $42,000 $58,000 Additional Information: 1. Net income for 2012 was $103,000. 2. Cash dividends of $45,000 were paid. 3. Bonds payable amounting to $55,000 were redeemed. 4. Common stock was issued for $42,000 cash. 5. No equipment was sold during 2012. 6. Land was sold at cost during 2012. Net Income Cash Dividend paid Bonds Payable Common Stock issued 103000 45000 55000 42000 Opening Balance Accounts receivable Incr ...
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