Rockman Associates has reported the following selected account balances on its most recent balance sheet.
|
Account and balance |
Anticipated future event and cash flow |
|
a. Accounts receivable, $12,000 |
$12,000 of cash should be received from |
|
b. Prepaid insurance, $22,000 |
|
|
c. Merchandise, $50,000 |
|
|
d. Treasury stock, $33,000 |
|
|
e. Accounts payable, $6,500 |
|
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f. Machinery, $92,000 |
|
|
g. Notes payable, long term, $88,000 |
|
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h. Unearned revenue, $10,000 |
|
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i. Taxes payable, $7,800 |
|
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j. Retained earnings, $56,000 |
For each item, describe the anticipated future event and cash flow (if any) that is expected to occur and in which section of a future statement of cash flows it will appear. The first item is completed as an example.