Explore BrainMass

Explore BrainMass

    Top Ten Clothiers Inc.

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    The following is a comparative balance sheet for Top Ten Clothiers Inc. for the years 2011 and 2010:

    TOP TEN CLOTHIERS INC.
    Comparative Balance Sheets
    December, 31, 2011 and 2010

    2011 2010
    Assets
    Cash 43,000 240,000
    Accounts receivable 390,000 210,000
    Inventory 360,000 450,000
    Long-term investments 0 120,000
    Total assets 793,000 1,020,000

    Liabilities and Equity
    Accounts payable 150,000 240,000
    Operating expenses payable 48,000 30,000
    Bonds payable 140,000 200,000
    Common stock 250,000 250,000
    Retained earnings 205,000 300,000
    Total liabilities and equity 793,000 1,020,000

    TOP TEN CLOTHIERS INC.
    Income Statement

    --------------see file attached--------------------

    Prepare direct method cash flow statement

    © BrainMass Inc. brainmass.com March 4, 2021, 10:47 pm ad1c9bdddf
    https://brainmass.com/business/statement-of-cash-flows/top-ten-clothiers-inc-363337

    Attachments

    Solution Preview

    Please see the attached file.

    The following is a comparative balance sheet for Top Ten Clothiers Inc. for the years 2011 and 2010:

    TOP TEN CLOTHIERS INC.
    Comparative ...

    Solution Summary

    This solution is comprised of a detailed explanation to prepare direct method cash flow statement.

    $2.49

    ADVERTISEMENT