Scenic Industries, Inc. | ||
Statement of Cash Flows | ||
For the Year Ended December 31, 2013 | ||
Cash Flows from Operating Activities | ||
Net Income | $183,000 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation Expense | $4,900 | |
Gain on Sale of Equipment | -$4,400 | |
Increase in Accounts Receivable | -$3,000 | |
Decrease in Inventory | $7,300 | |
Increase in Prepaid Insurance | -$500 | |
Decrease in Accounts Payable | -$3,300 | |
Decrease in Salaries Payable | -$4,500 | |
Increase in Interest Payable | $2,400 | |
Increase in Taxes Payable | $5,300 | |
Decrease in Other Accrued Operating Expense | -$3,300 | |
Net cash flows provided by operating activities | $183,900 | |
Cash Flows from Investing Activities | ||
Purchase of Long-Term Investments | -$113,000 | |
Proceeds from Sale of Equipment | $15,100 | |
Purchase of Equipment | -$29,700 | |
Net cash flow used in investing activities | -$127,600 | |
Cash Flows from Financing Activities | ||
Principal Payment on Bond Payable | -$35,000 | |
Proceeds from Issuance of Common Stock | $30,000 | |
Cash paid for Dividends | -$24,800 | |
Net cash flow used in financing activities | -$29,800 | |
Increase in cash | $26,500 | |
Cash balance, December 31, 2012 | $23,500 | |
Cash balance, December 31, 2013 | $50,000 | |
I am preparing a statement of cash flows below are the income statement, balance sheets for...
Statement of Cash Flows (Indirect Method) The Wolff Company's income statement and comparative balance sheets at December 31 of 2013 .. and 2012 are shown below: WOLFF COMPANY Income Statement For the Year Ended December 31, 2013 Sales Revenue $762,000 Cost of Goods Sold $516,000 Wages Expense 103,200 Insurance Expense 9,600 Depreciation Expense 20,400 Interest Expense 10,800 Income Tax Expense 34,800 694,800 Net Income $67,200 WOLFF COMPANY Balance Sheets Dec. 31, 2013 Dec. 31, 2012 Assets Cash $13,200 $6,000 Accounts...
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Statement of Cash Flows (Direct Method) The Wolff Company's income statement and comparative balance sheets at December 31 of 2013 and 2012 are shown below: WOLFF COMPANY Income Statement For the Year Ended December 31, 2013 Sales Revenue $825,500 Cost of Goods Sold $559,000 Wages Expense 111,800 Insurance Expense 10,400 Depreciation Expense 22,100 Interest Expense 11,700 Income Tax Expense 37,700 752,700 Net Income $72,800 WOLFF COMPANY Balance Sheets Dec. 31, 2013 Dec. 31, 2012 Assets Cash Accounts Receivable $14,300 53,300...
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Statement of Cash Flows (Indirect Method) Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31,2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 21,000 Amortization expense 6,000 Interest expense 10,000 Income tax expense 36,000 Loss on bond retirement 5,000 613,000 Net income $87,000 DAIR COMPANY Balance Sheets Dec. 31, 2011 Dec. 31, 2010 Assets Cash $ 22,000 $ 18,000 Accounts receivable 54,000...
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Statement of Cash Flows (Direct Method) The Wolff Company's income statement and comparative balance sheets at December 31 of 2013 and 2012 are shown below: WOLFF COMPANY Income Statement For the Year Ended December 31, 2013 Sales Revenue $825,500 Cost of Goods Sold $559,000 Wages Expense 111,800 Insurance Expense 10,400 Depreciation Expense 22,100 Interest Expense 11,700 Income Tax Expense 37,700 752,700 Net Income $72,800 WOLFF COMPANY Balance Sheets Dec. 31, 2013 Dec. 31, 2012 Assets Cash $14,300 53,300 117,000 6,500...
FINA 3006 Preparing a Statement of Cash Flows Given the balance sheets and the income statement of The Jamin Corporation: a) Prepare the firm's statement of cash flows for the year ended December 31, 2017. Income Statement--The Jamin Corporation for the year Ending December 31, 2017 830,200 Sales 39,750 Cost of Goods Sold Gross profit Operating expenses Selling expenses General and administrative expenses Depreclation Total operating expenses Operating income 290,450 90,750 71,800 28,200 190,150 99,700 20,000 Interest expense Earnings before...