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| Press Legal Services Inc. | ||
| Cashflow statement | Amount $ | Amount $ |
| Particulars | ||
| Net Income | 90,000.00 | |
| Adjustment to reconcile Net Income to Net Cash | (16,000.00) | |
| Cash flow from operating activities | 74,000.00 | |
| Cash flow from investing activities | ||
| Equipment purchased | (52,000.00) | |
| Net cash provided by (Used for) investing activities | (52,000.00) | |
| Cash flow from financing activities | ||
| Dividends paid | (35,000.00) | |
| Net cash provided by (Used for) financing activities | (35,000.00) | |
| Net Increase/(Decrease) in cash | (13,000.00) | |
| Cash Balance, beginning | 14,000.00 | |
| Cash Balance, ending | 1,000.00 |
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Press Legal Services, Inc., ended 2017 with cash of $14,000. During 2018. Press earned net income...
Press Legal Services, Inc., ended 2017 with cash of $14,000. During 2018, Press eaned net income...
Press Legal Services, Inc., ended 2017 with cash of $14,000. During 2018, Press eaned net income of $90.000 and had adjustments to reconcile net income to net cash provided by operations totaling $16,000 (this is a negative amount). Press paid $52,000 to purchase equipment during 2018. During 2018, the company declared and paid dividends of $35,000 Prepare Press' statement of cash flows for the year ended December 31. 2018. complete with its proper heading. (Use parentheses or a minus sign...
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue...
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 717,000 340,000 377,000 Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense $ 46,000 180,000 Other Operating Expenses Total Operating Expenses 226,000 $ 151,000 Net Income i Data Table Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash Accounts Receivable 18,000 $ 56,000 83,000 14,000 49,000 86,000 Merchandise Inventory Long-term Assets: Plant Assets...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
Company earned net income of $ 110 comma 000 during the year ended December 31, 2018...
Company earned net income of $ 110 comma 000 during the year ended December 31, 2018 . On December 15, Whitetea declared the annual cash dividend on its 6 % preferred stock (par value, $ 118 comma 000 ) and a $1.00 per share cash dividend on its common stock left parenthesis 45 comma 000 shares). Whitetea then paid the dividends on January 4, 2019 .
$597.000 $555.000 Additional information 1. Net income for 2017 was 393,000. 2. Cash dividends of $35.000...
$597.000 $555.000 Additional information 1. Net income for 2017 was 393,000. 2. Cash dividends of $35.000 were declared and paid. 3. Bonds payable amountine to S50 000 redeemed for cash $50.000 4. Common stock was issued for $42.000 cash. 5. No equipment was sold during 2017, but land was sold at cost. Instructions Prepare a statement of cash flows for 2017 using the indirect method. E13-9 Rodriquez Corporation's comparative balance sheets are presented below. Prepare statement of cash flows and...
61,600 Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities. Net...
61,600 Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities. Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense-Plant Assels Decrease in Accounts Receivable Increase in Merchandise Inventory Increase in Accounts Payable 16,800 5,900 (2,900) 1,300 (1.500) 19.600 Decrease in Accrued Liabilities Nel Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: 200 s/Ma Net Cash Provided by (Used for) Investing Activites Choose...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: Changes in current operating assets and liabilities Depreciation expense Decrease in accounts receivable Decrease in accounts payable Decrease in salaries payable Increase in inventory Net cash used in operating activities Cash flows from investing activities 0) Cash flows from financing activities 0 0 Cash balance at beginning of...
Hazelnut Company earned net income of $75,000 during the year ended December 31, 2018. On December...
Hazelnut Company earned net income of $75,000 during the year ended December 31, 2018. On December 15, Hazelnut declared the annual cash dividend on its 5% preferred stock (par value, $110,000) and a $0.25 per share cash dividend on its common stock (58,000 shares). Hazelnut then paid the dividends on January 4, 2019 Read the requirements. Requirement 1. Journalize for Hazelnut the entry declaring the cash dividends on December 15, 2018 (Record debits first, then credits. Select the explanation on...
The comparative balance sheet for Desmond Isle Travel Services, Inc., for December 31, 2017 and 2016,...
The comparative balance sheet for Desmond Isle Travel Services, Inc., for December 31, 2017 and 2016, is as follows: (Click the icon to view the comparative balance sheet.) The following information is taken from the records of Desmond Isle Travel Services, Inc.: (Click the icon to view the transaction data) Desmond Isle Travel Services, Inc., uses the indirect method for preparing the statement of cash flows. Prepare the operating section of the statement of cash flows for 2017. (Use parentheses...
Prepare statement of cash flows using the indirect method. The income statement for 2017 and the...
Prepare statement of cash flows using the indirect method. The
income statement for 2017 and the balance sheets for 2017 and 2016
are presented for Harding Industries, Inc.
Prepare the statement one section at a time. (Use parentheses
or a minus sign for numbers to be subtracted and for net cash
outflows.)
Harding Industries, Inc. Income Statement For the Year Ended December 31, 2017 Sales revenues $ 956,000 381,000 Less: Cost of goods sold Gross profit $575,000 Less operating expenses:...
Press Legal Services, Inc., ended 2017 with cash of $14,000. During 2018, Press eaned net income of $90.000 and had adjustments to reconcile net income to net cash provided by operations totaling $16,000 (this is a negative amount). Press paid $52,000 to purchase equipment during 2018. During 2018, the company declared and paid dividends of $35,000 Prepare Press' statement of cash flows for the year ended December 31. 2018. complete with its proper heading. (Use parentheses or a minus sign...
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 717,000 340,000 377,000 Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense $ 46,000 180,000 Other Operating Expenses Total Operating Expenses 226,000 $ 151,000 Net Income i Data Table Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash Accounts Receivable 18,000 $ 56,000 83,000 14,000 49,000 86,000 Merchandise Inventory Long-term Assets: Plant Assets...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
$597.000 $555.000 Additional information 1. Net income for 2017 was 393,000. 2. Cash dividends of $35.000 were declared and paid. 3. Bonds payable amountine to S50 000 redeemed for cash $50.000 4. Common stock was issued for $42.000 cash. 5. No equipment was sold during 2017, but land was sold at cost. Instructions Prepare a statement of cash flows for 2017 using the indirect method. E13-9 Rodriquez Corporation's comparative balance sheets are presented below. Prepare statement of cash flows and...
61,600 Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities. Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense-Plant Assels Decrease in Accounts Receivable Increase in Merchandise Inventory Increase in Accounts Payable 16,800 5,900 (2,900) 1,300 (1.500) 19.600 Decrease in Accrued Liabilities Nel Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: 200 s/Ma Net Cash Provided by (Used for) Investing Activites Choose...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: Changes in current operating assets and liabilities Depreciation expense Decrease in accounts receivable Decrease in accounts payable Decrease in salaries payable Increase in inventory Net cash used in operating activities Cash flows from investing activities 0) Cash flows from financing activities 0 0 Cash balance at beginning of...
Hazelnut Company earned net income of $75,000 during the year ended December 31, 2018. On December 15, Hazelnut declared the annual cash dividend on its 5% preferred stock (par value, $110,000) and a $0.25 per share cash dividend on its common stock (58,000 shares). Hazelnut then paid the dividends on January 4, 2019 Read the requirements. Requirement 1. Journalize for Hazelnut the entry declaring the cash dividends on December 15, 2018 (Record debits first, then credits. Select the explanation on...
The comparative balance sheet for Desmond Isle Travel Services, Inc., for December 31, 2017 and 2016, is as follows: (Click the icon to view the comparative balance sheet.) The following information is taken from the records of Desmond Isle Travel Services, Inc.: (Click the icon to view the transaction data) Desmond Isle Travel Services, Inc., uses the indirect method for preparing the statement of cash flows. Prepare the operating section of the statement of cash flows for 2017. (Use parentheses...
Prepare statement of cash flows using the indirect method. The
income statement for 2017 and the balance sheets for 2017 and 2016
are presented for Harding Industries, Inc.
Prepare the statement one section at a time. (Use parentheses
or a minus sign for numbers to be subtracted and for net cash
outflows.)
Harding Industries, Inc. Income Statement For the Year Ended December 31, 2017 Sales revenues $ 956,000 381,000 Less: Cost of goods sold Gross profit $575,000 Less operating expenses:...
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