Posted: July 19th, 2016

Use APA formatting and citation ?

Complete the following exercise. Fill in the Excel spreadsheet provided via the link below to provide your answers to parts a, and b. Then paste the Excel data into a Word document on which you can also write the answer to part c.

cash_flows.xlsx

arLabel each exercise or problem clely. Use APA formatting and citation if needed.

The Carpet Company’s 2009 and 2010 balance sheets included the following items:
December 31
2010 2009
Debits
Cash………………………………………………………………………………… $10,500 $ 4,000
Accounts receivable……………………………………………………………….. 8,000 9,000
Merchandise inventory…………………………………………………………… 21,000 18,000
Equipment……………………………………………………………………………. 18,000 15,000
Totals………………………………………………………………………… $57,500 $46,000

Credits
Accumulated depreciation, equipment………………………………………. $ 4,000 $ 3,000
Accounts payable…………………………………………………………………… 7,000 5,000
Taxes payable……………………………………………………………………….. 1,000 2,000
Dividends payable………………………………………………………………….. 1,500 0
Common stock, $10 par value…………………………………………………… 27,000 25,000
Contributed capital in excess of par, common stock………………………. 6,000 5,000
Retained earnings………………………………………………………………….. 11,000 6,000
Totals………………………………………………………………………… $57,500 $46,000
The Carpet Company’s income statement was as follows: