The Following Financial Statements and Additional Information Are Reported

The following financial statements and additional information are reported. Income Statement For Year Ended June 30 2019 Sales 678000 Cost of goods sold 411000 Gross profit 267000 Operating expenses Depreciation expense 58600 Other expenses 67000 Total operating expenses 125600 141400 Other gains losses Gain on sale of equipment 2000 Income before taxes 143400 Income taxes expense 43890 Net income.

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Operating expenses excluding depreciation 79000.

. The following financial statements and additional information are reported. Comparative Balance Sheets June 30 20 18 and 2017 2018 2017 Assets 44000 51000 86500 5400 186900 115000 9000 87500 65000 63800 4400 220700 124000 27000 Cash Accounts receivable net Inventory Prepaid expenses. The following financial statements and additional information are reported.

The following transactions and events occurred during the year. The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets 2021 At June 30 Assets 2020 Cash Accounts receivable net Inventory Prepaid expenses Total current assets 79700 84500 76800 5700 246700 137000 33500 350200 57000 64000 106000 8000 235000 128000 15500.

Comparative Balance Sheets June 30 2017 and 2016. The following financial statements and additional information are reported. 1 Prepare a statement of cash flows using the indirect method for the year ended June 30 2019.

2020 IKIBAN INCORPORATED Comparative Balance Sheets At June 30 2021 Assets Cash 87500 Accounts receivable net 65000 Inventory 63800 Prepaid expenses 4400 Total current assets 220700 Equipment 124000 Accumulated depreciation-Equipment 27000 Total. Cash 96700. The following financial statements and additional information are reported.

June 30 2019 and 2018 2019 2018 Assets Cash81500 54000 Accounts receivable net 80000 61000 Inventory 73800 101500 Prepaid expenses 5400 7400 Total current assets 240700 223900 Equipment 134000 125000 Accum. Assuming that this company uses the indirect method to report cash provided by operating activities indicate where each item would appear on its statement of cash flows by placing an X in the appropriate column. IKIBAN INC Comparative Balance Sheets June 30 2015 and XXXXXXXXXXAccounts receivable net Prepaid expenses Total current assets 109600 72600 51900 96300 6100 69300 66600 4400 249900 122400 28 XXXXXXXXXX900 111000 10900 Accum.

2 Compute the companys cash flow on total assets ratio for fiscal year 2019. The following financial statements and additional information are reported. The following financial statements and additional information are reported.

Connect - Managerial Accounting Chapter 12. The following financial statements and additional information are reported. Comparative Balance Sheets June 30 2019 and 2018 2019 2018 Assets 59000 98500 87500 78800 5900 270700 139000 34500 Cash Accounts receivable net Inventory Prepaid expenses 66000 109000 8400 242400 130000 16500 355900 Total current assets Equipment.

IKIBAN INCComparative Balance Sheets. For Year Ended June 30 2021. Cost of goods sold.

IKIBAN INCORPORATED Comparative Balance Sheets 2020 At June 30 Assets Cash 52000 Accounts receivable net 59000 Inventory 98500 Prepaid expenses 7000 Total current assets Equipment 216500 123000 Accumulated depreciation-Equipment 13000 Total assets. The following financial statements and additional information are reported IKIBAN INC Comparative Balance Sheets June 30 2017 and 2016 2017 2016 Assets Cash 73100 68000 Accounts receivable net 101000 75000 Inventory 87800 122500 Prepaid expenses 6800 10200 Total current assets 268700 275700 Equipment 148000 139000. The following financial statements and additional information are reported.

Answer to The following financial statements and additional information are reported. The following financial statements and additional information are reported. The following financial statements and additional information are reported.

The only changes affecting retained earnings are net. 1 Prepare a statement of cash flows using the indirect method for the year ended June 30 2019. The purchase of long-term assets by issuing a note payable for the entire amount is reported on the statement of cash flows in the.

2 Compute the companys cash flow on total assets ratio for fiscal year 2019. Depreciation-Equipment 36500 Total assets 365 200. Comparative Balance Sheets June 30 2019 and 2018 2019 Assets Cash 76100 Accounts receivable net 93500 Inventory 82800 Prepaid expenses 6300 Total current assets 258700 Equipment 143000 Accum.

Other gains losses Gain on sale of equipment. A 30000 note payable is retired at its 30000 carrying SolutionInn. A 30000 note payable is retired at its 30000 carrying book value in exchange for cash.

The following financial statements and additional information are reported. IKIBAN INC Comparative Balance Sheets June 30 2015 and 2014 2015 2014 Accounts receivable net Prepaid expenses Total current assets 109600 72600 51900 96300 6100 69300 66600 4400 249900 122400 28800 226900 111000 10900 Accum. The following financial statements and additional information are reported.

Comparative Balance Sheets June 30 20 18 and 2017 2018 2017 Assets 44000 51000 86500 5400 186900 115000 9000 87500 65000 63800 4400 220700 124000 27000 Cash Accounts receivable net Inventory Prepaid expenses Total current assets 167. The only changes affecting retained. A 30000 note payable is retired at its 30000 carrying book value in exchange for cash.

The following financial statements and additional information are reported.

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