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[solution]: 12. Sources and Uses Below are the most recent balance sheets for Country Kettles, Inc. Excluding...


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12.        Sources and Uses   Below 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:   COUNTRY KET TLES, INC. Balance Sheet December 31, 2011 2010 2011 Assets     Cash $ 30,400 $ 29,520 Accounts receivable 69,904 73,344 Inventories 60,800 63,736 Property, plant, and equipment 147,000 157,180 Less: Accumulated depreciation 45,730 52,280 Total assets $262,374 $271,500 Liabilities and Equity     Accounts payable $ 44,994 $ 47,118 Accrued expenses 6,280 5,632 Long-term debt 25,600 28,000 Common stock 16,000 20,000 Accumulated retained earnings $169,500 $170,750 Total liabilities and equity $262,374 $271,500  

 


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