ZuoTi.Pro
Question

the comparative balance sheet of yellow dog enterprises inc. at December 31, 20Y8 and 20Y7, is...

the comparative balance sheet of yellow dog enterprises inc. at December 31, 20Y8 and 20Y7, is as follows:     dec 31. 20Y8        dec 31. 20Y7.                         Assets.                                                                                        cash.                          $80,000.00.             $100,000.00.                      Accounts receivable 275,000.00.              300,000.00.        merchandise inventory 510,000.00.          400,000.00.      prepaid expenses.        15,000.00.            10,000.00.          equipment.                  1,750,000.00.          750,000.00.         Accumulated depreciation (200,000.00. (160,000.00.     total Assets.                  1,750,000.00.     $1400,000.00.      liabilities and stockholders equity.                                           Accounts payable.         $100,000.00.        $90,000,00.    mortgage note payable   0.00.                   400,000.00.       common stock $10 par. 600,000.00.      200,000.00.     paid in capital.                   300,000.00.      100,000.00.        retained earnings.             750,000.00.       610,000.00.     total liabilities and.      $1,750,000.00    $1,400,000.00.       additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: A) net income, $190,000. B) depreciation reported on the income statement, $115,000. C) equipment was purchased at a cost of $395,000 and fully depreciated equipment costing $75,000 was declared, with no salvage realized.   D) the mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty. E) 40,000 shares of common stock were issued at $15 for cash. F) cash dividends declared and paid, $50,000.                                                     prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Hi

Let me know in case any issue and query:

Naming convention in drop down are not available, can be slightly different: Solution: Cash flow Statement Indirect Method Cash Flow from Operating Activities: Net Income Adiustments to reconcile net income to net cash provided by operations: Depreciation Changes in current operating assets and liabilities: Decrease Accounts receivable Increase in Inventory Increase in Accounts Payable Increase in prepaid expense Net cash flow from operating activities (A) Cash Flow from Investing Activities: Cash paid for equipment Net Cash used for Investing Activities (B) Cash Flow from Financing Activities: Cash received from sale of common stock Cash paid to retire mortgage note payable Cash paid for dividends Net cash flow from financing activities -C) Change in cash (A+B+C) Cash at the beginning of the year Cash at the End of the year 190000 115000 $ 25,000 -110000 $ 10,000 $ 5,000 225000 395000 395000 (40000*15) 600000 -400000 $-50,000 150000 $ -20,000 100000 80000

2 0
Add a comment
Know the answer?
Add Answer to:
the comparative balance sheet of yellow dog enterprises inc. at December 31, 20Y8 and 20Y7, is...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows:

    The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows:1Dec. 31, 20Y8Dec. 31, 20Y72Assets3Cash$95,000.00$110,000.004Accounts receivable (net)260,000.00280,000.005Inventories520,000.00450,000.006Prepaid expenses15,000.005,000.007Equipment1,130,000.00800,000.008Accumulated depreciation-equipment(235,000.00)(190,000.00)9Total assets$1,785,000.00$1,455,000.0010Liabilities and Stockholders’ Equity11Accounts payable (merchandise creditors)$100,000.00$75,000.0012Mortgage note payable    0.00500,000.0013Common stock, $10 par500,000.00200,000.0014Paid-in capital in excess of par—common stock400,000.00100,000.0015Retained earnings785,000.00580,000.0016Total liabilities and stockholders’ equity$1,785,000.00$1,455,000.00Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows:a. Net income, $250,000.b. Depreciation reported on the income statement,...

  • The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...

    The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: A. Net income, $190,000. B. Depreciation reported on the income statement, $115,000. C. Equipment was purchased at a cost of $395,000 and fully depreciated equipment costing $75,000 was discarded, with no salvage realized. D. The mortgage note payable was not...

  • The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...

    The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $55,870 $68,540 Accounts receivable (net) 85,850 92,390 Inventories 122,620 114,520 Prepaid expenses 5,000 3,470 Equipment 249,820 205,170 Accumulated depreciation-equipment (64,950) (50,320) Total assets $454,210 $433,770 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $95,380 $90,660 Mortgage note payable 0 130,130 Common stock, $1 par 14,000 9,000 Paid-in capital in excess of par-common stock 197,000...

  • The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...

    The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows Dec. 31,20Y8 Dec. 31,20Y7 Assets 146190.00 $179,070.00 41,100.00 299,700.00 430.00 537,730.00 170,790.00) 0) 1,190,560.00 $1,135,130.00 3Cash 4Accounts receivable (net) Inventories 6 Prepaid expenses 7 Equipment 8Accumulated depreciation-equipment 9 Total assets 224,940.00 22,390.00 12,670.00 655,160.00 Liabilities and Stockholders' Equity 10 11 Accounts payable (merchandise creditors) 12 Mortgage note payable 13 Common stock, $10 par 14 Paid-in capital: Excess of issue price over par-common...

  • The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...

    The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: 1 Dec. 31, 20Y8 Dec. 31, 20Y7 2 Assets 3 Cash $146,590.00 $180,310.00 4 Accounts receivable (net) 223,920.00 242,510.00 5 Inventories 322,020.00 298,480.00 6 Prepaid expenses 12,710.00 9,770.00 7 Equipment 654,640.00 536,710.00 8 Accumulated depreciation-equipment (170,680.00) (132,810.00) 9 Total assets $1,189,200.00 $1,134,970.00 10 Liabilities and Stockholders’ Equity 11 Accounts payable (merchandise creditors) $239,470.00 $238,540.00 12 Mortgage note payable     0.00 335,820.00 13 Common...

  • The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...

    The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: 1 Dec. 31, 20Y8 Dec. 31, 20Y7 2 Assets 3 Cash $145,630.00 $180,110.00 4 Accounts receivable (net) 224,520.00 241,890.00 5 Inventories 321,860.00 299,730.00 6 Prepaid expenses 12,550.00 10,220.00 7 Equipment 655,090.00 537,200.00 8 Accumulated depreciation-equipment (170,220.00) (132,040.00) 9 Total assets $1,189,430.00 $1,137,110.00 10 Liabilities and Stockholders’ Equity 11 Accounts payable (merchandise creditors) $240,110.00 $237,190.00 12 Mortgage note payable     0.00 335,380.00 13 Common...

  • The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...

    The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $49,350 $60,220 Accounts receivable (net) 75,830 81,180 Inventories 108,320 100,620 Prepaid expenses 4,410 3,050 Equipment 220,660 180,280 Accumulated depreciation-equipment (57,370) (44,210) Total assets $401,200 $381,140 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $84,250 $79,660 Mortgage note payable 0 114,340 Common stock, $1 par 13,000 8,000 Paid-in capital: Excess of issue price over par-common...

  • Statement of cash flows-indirect method Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions The...

    Statement of cash flows-indirect method Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2018 and 2017, is as follows: Dec 31, 20Y8 Dec 31, 2047 $80,000.00 $100,000.00 275,000.00 300,000.00 510,000.00 400,000.00 15,000.00 10,000.00 1,070,000.00 750,000.00 (200,000.00) (160,000.00) $1,750,000.00 $1,400,000.00 Assets 3 Cash 4 Accounts receivable (net) 5 Inventories 6 Prepaid expenses 7 Equipment 8 Accumulated depreciation equipment 9 Total assets Liabilities and Stockholders' Equity 11 Accounts...

  • The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 2047, is...

    The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 2047, is as follows: Dec. 31, 20Y8 Dec 31, 2017 Assets Cash $146,190.00 $179,070.00 4 Accounts receivable (net) 224,940.00 241,100.00 5 Merchandise inventory 322,390.00 299,700.00 6 Prepaid expenses 12,670.00 9,430.00 7 Equipment 655,160.00 537,730.00 8 Accumulated depreciation (170,790.00) (131,900.00) 9 Total assets $1,190,560.00 $1,135,130.00 Liabilities and Stockholders' Equity 11 Accounts payable (merchandise creditors) $250,640.00 0.00 $237,300.00 336,600.00 23,000.00 12 Mortgage note payable 13 Common stock, $10...

  • Statement of Cash Flows—Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December...

    Statement of Cash Flows—Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $68,210 $83,770 Accounts receivable (net) 104,820 112,930 Inventories 149,750 139,970 Prepaid expenses 6,100 4,240 Equipment 305,020 250,780 Accumulated depreciation-equipment (79,310) (61,500) Total assets $554,590 $530,190 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $116,460 $110,810 Mortgage note payable 0 159,060 Common stock, $1 par 18,000 11,000 Paid-in capital in...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT