Question

Here are the most recent balance sheets for Country Kettles, Inc. Excluding accumulated depreciation, determine whether...

Here are the most recent balance sheets for Country Kettles, Inc. Excluding accumulated depreciation, determine whether each item is a source or a use of cash, and the amount. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Input all amounts as positive values):
COUNTRY KETTLES, INC.
Balance Sheet
2018 2019
  Assets
  Cash $ 30,600 $ 29,710
  Accounts receivable 70,100 73,120
  Inventories 61,000 63,125
  Property, plant, and equipment 149,000 158,200
    Less: Accumulated depreciation (46,080 ) (50,100 )
  Total assets $ 264,620 $ 274,055
  Liabilities and Equity
  Accounts payable $ 45,100 $ 47,210
  Accrued expenses 6,480 5,780
  Long-term debt 25,800 28,300
  Common stock 18,000 22,200
  Accumulated retained earnings 169,240 170,565
  Total liabilities and equity $ 264,620 $ 274,055

Source/Use Amount
Cash

Accounts Receivable

Inventories

Property, plant and equipment

Accounts Payable

Accrued expenses

Long-term debt

Common stock

Accumulated retained earnings

Business   Finance   
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Homework Answers

Answer #1
Cash Source = $ 29,710 - $ 30,600 - $ 890
Accounts receivable Use = $ 73,120 - $ 70,100 $ 3,020
Inventories Use = $ 63,125 - $ 61,000 $ 2,125
Property, plant and equipment Use = $ 158,200 - $ 149,000 $ 9,200
Accounts payable Source = $ 47,210 - $ 45,100 $ 2,110
Accrued expense Use = $ 5,780 - $ 6,480 - $ 700
Long term debt Source = $ 28,300 - $ 25,800 $ 2,500
Common stock Source = $ 22,200 - $ 18,000 $ 4,200
Accumulated retained earnings Source = 170,565 - $ 169,240 $ 1,325

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