Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 305 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Jul 2017 My Price 15.00

Bonds payable amounting

MICHAEL JACKSON GREATEST STAR EVER COMPANY

Comparative Balance Sheets

December 31

Assets

2008

  

2007

Cash

$77,380

  

$23,320

Accounts receivable

90,100

  

80,560

Inventories

180,200

  

200,340

Land

79,500

  

106,000

Equipment

275,600

  

212,000

Accumulated depreciation

(69,960)

  

(33,920)

     Total

$632,820

  

$588,300
       

Liabilities and Stockholders' Equity

    

Accounts payable

$41,340

  

$49,820

Bonds payable

159,000

  

212,000

Common stock ($1 par)

228,960

  

184,440

Retained earnings

203,520

  

142,040

     Total

$632,820

  

$588,300

Additional information:

Net income for 2008 was $109,180.

Cash dividends of $47,700 were declared and paid.

Bonds payable amounting to $53,000 were redeemed for cash $53,000.

Common stock was issued for $44,520 cash.

No equipment was sold during 2008.

Instructions: Prepare a statement of cash flows for 2008 using the indirect method.

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Jul 2017 11:07 PM My Price 15.00

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