XS Supply Company | ||
Statement of cash flows | ||
For the year ended December 31 | ||
Cash flow from operating activities | Amount ($) | |
Net income | 12,200 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Add:depreciation | 5,000 | |
Less:increase in accounts receivable | -7,000 | |
Less:increase in inventories | -3,000 | |
Add:increase in accounts payable | 9,000 | |
Less:salaries and wages payable | -200 | |
Total cash flow from operating activities | 16,000 | |
Cash flow from investing activities | ||
Purchase of equipment | -21,000 | |
Total cash flow from investing activities | -21,000 | |
Cash flow from financing activities | ||
Cash payments on notes payable | -6,000 | |
Cash receipts from issuing stock | 16,000 | |
Total cash flow from financing activities | 10,000 | |
Change in cash and cash equivalent | 5,000 | |
Add:cash and cash equivalent at the start of the year | 29,000 | |
Cash and cash equivalent at the end of the year | 34,000 |
pls help ?? PA12-3 Preparing a Statement of Cash Flows (Indirect Method) (LO 12-2, LO 12-3,...
Saved 7 PA12-3 Preparing a Statement of Cash Flows (Indirect Method) (LO 12-2, LO 12-3, LO 12-4, LO 12-5] XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: 15 points Current Year Previous Year Balance Sheet at December 31 Cash Skopped $ 29,000 $ 34,000 35,000 41,000 121,000 (30,000) $201,000 $ 36,000 1,200 38,000 88, 600...
PA12-3 Preparing a Statement of Cash Flows (Indirect Method) [LO 12-2, LO 12-3, LO 12-4, LO 12-5] XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Current Year Previous Year Balance Sheet at December 31 Cash $ 32,330 $ 27,250 Accounts Receivable 33,400 27,200 Inventory 39,400 37,200 Equipment 109,000 92,000 Accumulated Depreciation—Equipment (28,400 ) (24,200 )...
value 10.00 points PA12-3 Preparing a Statement of Cash Flows (Indirect Method) [LO 12-2, LO 12-3, LO 12-4, LO 12-5 XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized Current Year Year Balance Sheet at December 31 Cash Accounts Receivable s 33,580$ 28,550 27,700 37.700 97,000 34400 40.400 116.500 (29,400)(24,700) Equipment Accumulated Depreciation-Equipment $ 195,480$166.250 Accounts...
PA12-4 Preparing and Interpreting a Statement of Cash Flows (Indirect Method) [LO 12-2, LO 12-3, LO 12- 4, LO 12-5) Heads Up Company was started several years ago by two hockey Instructors. The company's comparative balance sheets and income statement follow, along with additional Information Current Year Previous Year Balance Sheet at December 31 55,300 900 5.se (1,500) $11.200 S $4.ee 1.75e 5,000 1,250) $ 9.5 $ 1.ee 500 500 1,700 Accounts Receivable Equipment Accumulated Depreciation Equipment Total Assets Accounts...
XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Current Year Previous Year Balance sheet at December 31 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment Total Assets Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earnings Total Liabilities and stockholders' Equity Income Statement Sales Revenue Cost of Goods Sold other Expenses Net...
P12-2 Preparing a Statement of Cash Flows (Indirect Method) LO12-1, 12-2, 12-4, 12-6 BG Wholesalers is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Prior Year Current Year Balance sheet at December 31 $ 39,400 31,600 31,600 40,500 Cash 36,300 Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreeiation 45,000 125,600 (34,000) $212,300 102,700 (27,100) $179,300...
Check my work P12-1 (Algo) Preparing a Statement of Cash Flows (Indirect Method) LO12-1, 12-2, 12-4, 12-6 Sharp Screen Films, Inc., is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Balance sheet at December 31 ok Current Year Prior Year Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreciation nt $ 65,950 16,...
Exercise 12-12 Indirect: Preparing statement of cash flows LO P2, P3 Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 60,100 Accounts receivable, net 19,800 Inventory 177,500 Total current assets 257,400 Equipment 98,300 Accum. depreciation-Equipment (44,300) Total assets $311,400 Liabilities and Equity Accounts payable $ 47,100 Salaries payable 1,000 Total current liabilities 48,100 Equity Common stock, no par value 216,100 Retained earnings 47,200 Total liabilities and equity $311,480 $ 60,000 23,900 138,000 221,900 81,600 (30,...
Indirect Method - Preparing a statement of Cash Flows Kidman Corp. reported the following financial statements for the year ended December 31, 2020. Balance Sheet, December 31 2019 2020 Difference Cash and cash out $72,000 $185,000 $114,000 Accounts receivable 57,000 45,000 (12,000) Merchandisinventory 93,000 177,000 B4,000 Land 60,000 12,000 (48,000) Equipment 144,000 216,000 72,000 Accumulated depreciation (36,000) 772,0001 (36,000) Total acts $390,000 $564,000 $174,000 Accounts payable $ 48,000 $54,000 $ 6,000 Notes payable, long-term 21,000 6,000 (15,000) Bonds payable 90,000...
P12-1 Preparing a Statement of Cash Flows (Indirect Method) LO12-1, 12-2, 12-4, 12-6 Sharp Screen Films, Inc., is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Current Year Prior Year Balance sheet at December 31 Cash $ 67,250 $ 65,400 Accounts receivable 17,950 24,450 Merchandise inventory 24,450 19,100 Property and equipment 211,950 153,500 Less: Accumulated...