Homework Answers
Answer =
- Increase in Crop inventories Answer = No Effect
- Decrease in account receivable Answer = No Effect
- Increase in cash Answer = = No Effect
- Decrease in account Payable Answer = = No Effect
- Decrease in Prepaid Expenses Answer = Increase
- Increase in accrued interest Answer = Decrease
- Increase in growing crops Answer = Increase
- Decrease in growing crops Answer = = Decrease
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What affect does each of the following items have on net farm
income?
Change of Net...
Review Problems 1 Given the following financial information, calculate the missing values $1,000 95,000 Cash Crop...
Review Problems 1 Given the following financial information, calculate the missing values $1,000 95,000 Cash Crop revenue Grain inventory Total operating expenses Prepaid expenses Notes payable Accrued interest Interest expense Supplies Owner equity 200 10,000 Machinery and equipment Farm real estate Total current assets $75,000 Total current liabilities 150,000 Accounts payable 17,500 Cash investment in growing 14,000 crops 2.000 Net farm income from 800 operations 27,000 Current portion of noncurrent 1.500 debt Deferred portion of noncurrent debt 10,000 500 138,500...
Use the following information to calculate value of farm production, total farm operating expenses, interest expense,...
Use
the following information to calculate value of farm production,
total farm operating expenses, interest expense, net farm income
from operations and owner’s equity. Use the value of farm
production format.
Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases Feed...
Use the following information to calculate value of farm production, total farm operating expenses, interest expense,...
Use the following information to calculate value of farm production, total farm operating expenses, interest expense, net farm income from operations ands owner equity. Use the value of farm production format. Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases Feed...
complete the following balance sheet. Assets 12/31/2018 12/31/2019 Change Cash $25,000 $35,000 Marketable Securities $10,000 $15,000...
complete the following balance sheet. Assets 12/31/2018
12/31/2019 Change Cash $25,000 $35,000 Marketable Securities
$10,000 $15,000 Accounts Receivable $1,500 $1,500 Fertilizer and
Supplies $500 $25,000 Investments in Growing Crops $48,500 $86,000
Crops held for Sale and Feed $12,000 $8,000 Market Livestock
$75,000 $115,000 Total Current Assets Breeding Livestock $45,000
$35,000 Machinery and Equipment $350,000 $315,000 Buildings $75,000
$85,000 Investments in Cooperatives $2,000 $2,000 Land $500,000
$525,000 Total Non-Current Assets Total Assets Flag this Question
Question 211.5 pts Complete the following...
· Use the following information to calculate value of farm production, total farm operating expenses, interest...
· Use the following information to calculate value of farm production, total farm operating expenses, interest expense, net farm income from operations ands owner equity. Use the value of farm production format. Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases...
Given the following financial information, calculate the missing values: $1,000 95,000 Cash Crop revenue Grain inventory...
Given the following financial information, calculate the missing values: $1,000 95,000 Cash Crop revenue Grain inventory Total operating expenses Prepaid expenses Notes payable Accrued interest Interest expense Supplies Owners' equity Machinery and equipment Farm real estate Total current assets Total current liabilities Accounts payable Cash investment in growing crops Net farm income Current portion of long-term debt Deferred portion of long-term debt $75,000 150,000 17,500 14,000 2,000 800 27,000 1,500 200 10,000 10,000 500 138,500
16.3 #5 The net income reported on the income statement for the current year was $346,400....
16.3 #5 The net income reported on the income statement for the current year was $346,400. Depreciation recorded on equipment and a building amounted to $99,330 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $90,570 $96,530 Accounts receivable (net) 111,490 119,020 Inventories 222,910 208,840 Prepaid expenses 13,500 14,540 Accounts payable (merchandise creditors) 96,260 103,590 Salaries payable 15,150 12,980...
ASU Home My ASU Colleges & Schools Map& Organizations Help QUESTION 17 Which items below would...
ASU Home My ASU Colleges & Schools Map& Organizations Help QUESTION 17 Which items below would result in net cash flow from operating activities being higher than net income? O Decrease in accounts payable and increase in prepaid expenses. O Decrease in accrued liabilities and increase in inventory. O Increase in accrued liabilities and increase in inventory. O Increase in accounts payable and decrease in accounts receivable. QUESTION 18 Which items below would result in net cash flow from operating...
xercise 17-05 (Video) The current sections of Scoggin Inc.’s balance sheets at December 31, 2019 and...
xercise 17-05 (Video) The current sections of Scoggin Inc.’s balance sheets at December 31, 2019 and 2020, are presented here. Scoggin’s net income for 2020 was $152,700. Depreciation expense was $24,300. 2020 2019 Current assets Cash $107,100 $95,300 Accounts receivable 109,200 78,300 Inventory 157,800 171,100 Prepaid expenses 26,100 25,300 Total current assets $400,200 $370,000 Current liabilities Accrued expenses payable $15,300 $9,900 Accounts payable 84,700 95,300 Total current liabilities $100,000 $105,200 Prepare the net cash provided by operating activities section of...
Indicate whether each of the following would be added to or deducted from net income in...
Indicate whether each of the following would be added to or deducted from net income in determining net cash flow from operating activities by the indirect method: a. Decrease in inventory b. Increase in accounts receivable c. Increase in accounts payable d. Loss on retirement of long-term debt e. Depreciation of fixed assets f. Decrease in notes receivable due in 60 days from customers g. Increase in salaries payable h. Decrease in prepaid expenses i. Amortization of patent j. Increase...
Review Problems 1 Given the following financial information, calculate the missing values $1,000 95,000 Cash Crop revenue Grain inventory Total operating expenses Prepaid expenses Notes payable Accrued interest Interest expense Supplies Owner equity 200 10,000 Machinery and equipment Farm real estate Total current assets $75,000 Total current liabilities 150,000 Accounts payable 17,500 Cash investment in growing 14,000 crops 2.000 Net farm income from 800 operations 27,000 Current portion of noncurrent 1.500 debt Deferred portion of noncurrent debt 10,000 500 138,500...
Use
the following information to calculate value of farm production,
total farm operating expenses, interest expense, net farm income
from operations and owner’s equity. Use the value of farm
production format.
Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases Feed...
Use the following information to calculate value of farm production, total farm operating expenses, interest expense, net farm income from operations ands owner equity. Use the value of farm production format. Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases Feed...
complete the following balance sheet. Assets 12/31/2018
12/31/2019 Change Cash $25,000 $35,000 Marketable Securities
$10,000 $15,000 Accounts Receivable $1,500 $1,500 Fertilizer and
Supplies $500 $25,000 Investments in Growing Crops $48,500 $86,000
Crops held for Sale and Feed $12,000 $8,000 Market Livestock
$75,000 $115,000 Total Current Assets Breeding Livestock $45,000
$35,000 Machinery and Equipment $350,000 $315,000 Buildings $75,000
$85,000 Investments in Cooperatives $2,000 $2,000 Land $500,000
$525,000 Total Non-Current Assets Total Assets Flag this Question
Question 211.5 pts Complete the following...
· Use the following information to calculate value of farm production, total farm operating expenses, interest expense, net farm income from operations ands owner equity. Use the value of farm production format. Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases...
Given the following financial information, calculate the missing values: $1,000 95,000 Cash Crop revenue Grain inventory Total operating expenses Prepaid expenses Notes payable Accrued interest Interest expense Supplies Owners' equity Machinery and equipment Farm real estate Total current assets Total current liabilities Accounts payable Cash investment in growing crops Net farm income Current portion of long-term debt Deferred portion of long-term debt $75,000 150,000 17,500 14,000 2,000 800 27,000 1,500 200 10,000 10,000 500 138,500
ASU Home My ASU Colleges & Schools Map& Organizations Help QUESTION 17 Which items below would result in net cash flow from operating activities being higher than net income? O Decrease in accounts payable and increase in prepaid expenses. O Decrease in accrued liabilities and increase in inventory. O Increase in accrued liabilities and increase in inventory. O Increase in accounts payable and decrease in accounts receivable. QUESTION 18 Which items below would result in net cash flow from operating...
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