Please give an answer in excel, thanks. Question 6 (16 marks) (29 minutes)...
70.2K
Verified Solution
Link Copied!
Question
Finance
Please give an answer in excel, thanks.
Question 6 (16 marks) (29 minutes) The following financial statements and information relate to White Inc. WHITE INC. Balance Sheet December 31 20x2 20x1 Assets Cash Accounts receivable Inventory Prepaid rent Property, plant and equipment Accumulated depreciation $ 9,000 50,000 15,000 2,500 950,000 (270,000) $ 756,500 $ 11,000 42,700 21,000 2,300 920,000 (225,000) $ 772,000 Liabilities and equity Accounts payable Salaries payable Bank loan payable Common stock Retained earnings $ 22,900 1,600 66,000 130,000 536,000 $ 756,500 $ 25,100 1,180 146,000 80,000 519,720 $ 772,000 WHITE INC. Income Statement year ended December 31, 20x2 Sales Cost of goods sold Other expenses Salary expense Depreciation expense Interest expense Loss on sale of equipment Net income $ 600,000 (195,000) (182,370) (90,000) (60,000) (3,350) (3,000) $ 66,280 Additional information The company sold equipment with an original cost of $20,000. The bank loan payable balance at Dec 31, 20x1 is due on Dec 31, 20x7. Required Prepare a statement of cash flow for the year ended December 31, 20x2. Show your supporting calculations
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
