Accounting HW question!?
Question:
net income 17,420
depreciation expense 6,297
loss on sale of equipment 3,183
proceeds from sale of equipment 974
beginning accounts receivable 3,569
ending accounts receivable 4,391
purchase of equipment 1,397
beginning inventory 2,103
ending inventory 2,312
beginning accrued wages payable 786
ending accrued wages payable 908
beginning prepaid expenses 1,519
ending prepaid expenses 1,451
payments of long-term debt principal 7,380
new long-term debt 31,081
payment of interest on long-term debt 8,337
beginning accounts payable 1,612
ending accounts payable 1,777
dividends paid during the year 1,507
proceeds from sale of common stock 13,977
purchase of treasury stock 1,382
beginning cash balance 10,824
Answer:
Now you got me all stressed for my [first] Acctg class tomorrow!!
Man thank God I passed that **** in college, that crap was hard.
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