Homework Answers
Answer 1.
Depreciation expense = Ending accumulated depreciation +
Depreciation on equipment sold - Beginning accumulated
depreciation
Depreciation expense = $132,000 + $30,000 - $120,000
Depreciation expense = $42,000
Answer 2.
Cash paid for purchase of equipment = Ending property, plant and
equipment + Cost of equipment sold - Beginning property, plant and
equipment
Cash paid for purchase of equipment = $510,000 + $40,000 -
$400,000
Cash paid for purchase of equipment = $150,000
Cash paid for dividend = Beginning retained earnings + Net
income - Ending retained earnings
Cash paid for dividend = $83,000 + $56,000 - $124,000
Cash paid for dividend = $15,000
Answer 3.
Free cash flow = Net cash provided by operating activities -
Capital expenditure - Cash dividend paid
Free cash flow = $20,000 - $132,000 - $15,000
Free cash flow = -$127,000
Add Answer to:
Joyner Company's income statement for Year 2 follows: $900,000 500,000 400,000 328,000 72,000 Sales Cost of...
Joyner Company's income statement for Year 2 follows: Sales Cost of goods sold Gros margin Selling...
Joyner Company's income statement for Year 2 follows: Sales Cost of goods sold Gros margin Selling and administrative expenses Net operating income Nonoperating items: Cain on sale of equipment Incone before taxes Income taxes Net Income $ 719,000 166,000 553,000 217.000 336,000 7,000 343,000 137,200 $ 205,800 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year $ 153,900 277.000 320,000 9.000 759,900 627,000 165,000 462,000 46,000 $1,267,900 $ 73, 700 132.000...
Joyner Company's income statement for Year 2 follows: $ 705.000 374,000 331,000 216,000 115,000 Sales Cost...
Joyner Company's income statement for Year 2 follows: $ 705.000 374,000 331,000 216,000 115,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 9,000 124,000 49.600 $ 74.400 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 $ -3,000 269,000 319.000 10,500 595,500 629,000 165,500 463,500 49,000 $1,100,000 $ 69,900 120.000...
Joyner Company’s income statement for Year 2 follows: Sales $ 714,000 Cost of goods sold 84,000...
Joyner Company’s income statement for Year 2 follows: Sales $ 714,000 Cost of goods sold 84,000 Gross margin 630,000 Selling and administrative expenses 217,000 Net operating income 413,000 Nonoperating items: Gain on sale of equipment 7,000 Income before taxes 420,000 Income taxes 126,000 Net income $ 294,000 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents $ 234,000 $ 69,900 Accounts receivable 250,000 114,000 Inventory...
Joyner Company's income statement for Year 2 follows: $ 705,000 398,000 307,000 217,000 90,000 Sales Cost...
Joyner Company's income statement for Year 2 follows: $ 705,000 398,000 307,000 217,000 90,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 6,000 6,000 96,000 28,800 $ 67,200 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year i $ 39,300 $ 70,200 253,000 137,000 319,000 284,000 8,500 17,000 619,800508, 200 622,000...
Joyner Company's income statement for Year 2 follows: $ 700,000 329,000 371,000 216,000 155,000 Sales...
Joyner Company's income statement for Year 2 follows: $ 700,000 329,000 371,000 216,000 155,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items : Gain on sale of equipment Income before taxes Income taxes Net income 7,000 162,000 48,600 $ 113,400 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year i $ 60, 700 264,000 319,000 10,500 654,200 627,000 166,900 460,100 42,000 $1,156,300...
Joyner Company's income statement for Year 2 follows: $ 713,000 160,000 553,000 217,000 336,000 Sales Cost...
Joyner Company's income statement for Year 2 follows: $ 713,000 160,000 553,000 217,000 336,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 7,000 343,000 137,200 $ 205, 800 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 $ 152,000 260,000 320,000 10,000 742,000 634,000 165, 300 468, 700 45,000 $1,255,700...
help Joyner Company's income statement for Year 2 follows: $ 713,000 143,000 570.000 150,400 419,600 Sales...
help
Joyner Company's income statement for Year 2 follows: $ 713,000 143,000 570.000 150,400 419,600 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 8,000 427,600 171.040 $ 256,560 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 5 $ 245,660 227.000 319.000 9,000 800,660 624.000 165,500 458.500 40,000 $1.299.160 $...
Joyner Company’s income statement for Year 2 follows: Sales $ 713,000 Cost of goods sold 287,000...
Joyner Company’s income statement for Year 2 follows: Sales $ 713,000 Cost of goods sold 287,000 Gross margin 426,000 Selling and administrative expenses 218,000 Net operating income 208,000 Nonoperating items: Gain on sale of equipment 5,000 Income before taxes 213,000 Income taxes 85,200 Net income $ 127,800 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash $ 54,600 $ 45,900 Accounts receivable 276,000 135,000 Inventory 320,000 287,000 Prepaid...
Joyner Company's Income statement for Year 2 follows: Sales Cast of goods sold Gross margin Selling and administ...
Joyner Company's Income statement for Year 2 follows: Sales Cast of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment $ 705,ee0 114,080 591,000 218,0e0 373,000 6,000 379,000 113,700 s 265,300 Income before taxes Income taxes Net income Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets $...
Joyner Company’s income statement for Year 2 follows: Sales $ 711,000 Cost of goods sold 320,000 Gross margin 391,000 Selling and administrative expenses 217,000 Net operating income...
Joyner Company’s income statement for Year 2 follows: Sales $ 711,000 Cost of goods sold 320,000 Gross margin 391,000 Selling and administrative expenses 217,000 Net operating income 174,000 Nonoperating items: Gain on sale of equipment 7,000 Income before taxes 181,000 Income taxes 54,300 Net income $ 126,700 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash $ 54,100 $ 89,800 Accounts receivable 278,000 120,000 Inventory 320,000 272,000 Prepaid...
Joyner Company's income statement for Year 2 follows: Sales Cost of goods sold Gros margin Selling and administrative expenses Net operating income Nonoperating items: Cain on sale of equipment Incone before taxes Income taxes Net Income $ 719,000 166,000 553,000 217.000 336,000 7,000 343,000 137,200 $ 205,800 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year $ 153,900 277.000 320,000 9.000 759,900 627,000 165,000 462,000 46,000 $1,267,900 $ 73, 700 132.000...
Joyner Company's income statement for Year 2 follows: $ 705.000 374,000 331,000 216,000 115,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 9,000 124,000 49.600 $ 74.400 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 $ -3,000 269,000 319.000 10,500 595,500 629,000 165,500 463,500 49,000 $1,100,000 $ 69,900 120.000...
Joyner Company's income statement for Year 2 follows: $ 705,000 398,000 307,000 217,000 90,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 6,000 6,000 96,000 28,800 $ 67,200 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year i $ 39,300 $ 70,200 253,000 137,000 319,000 284,000 8,500 17,000 619,800508, 200 622,000...
Joyner Company's income statement for Year 2 follows: $ 700,000 329,000 371,000 216,000 155,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items : Gain on sale of equipment Income before taxes Income taxes Net income 7,000 162,000 48,600 $ 113,400 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year i $ 60, 700 264,000 319,000 10,500 654,200 627,000 166,900 460,100 42,000 $1,156,300...
Joyner Company's income statement for Year 2 follows: $ 713,000 160,000 553,000 217,000 336,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 7,000 343,000 137,200 $ 205, 800 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 $ 152,000 260,000 320,000 10,000 742,000 634,000 165, 300 468, 700 45,000 $1,255,700...
help
Joyner Company's income statement for Year 2 follows: $ 713,000 143,000 570.000 150,400 419,600 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 8,000 427,600 171.040 $ 256,560 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 5 $ 245,660 227.000 319.000 9,000 800,660 624.000 165,500 458.500 40,000 $1.299.160 $...
Joyner Company's Income statement for Year 2 follows: Sales Cast of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment $ 705,ee0 114,080 591,000 218,0e0 373,000 6,000 379,000 113,700 s 265,300 Income before taxes Income taxes Net income Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets $...
Most questions answered within 3 hours.
-
Considering gravitational time dilation, calculate the time that
passes in Earth’s surface while 1 hour passes...
asked 45 seconds from now -
Minitab Problem: Take the Lake Hume June rainfall data and find
use the processes outlined in...
asked 51 minutes ago -
X Company is trying to decide whether to continue using old
equipment to make Product A...
asked 52 minutes ago -
IN PYTHON ONLY !! Program 2: Re-work
program #5 (WeeklyHours) from the previous assignment such that...
asked 1 hour ago -
The average length of time between arrivals at a turnpike
toll-booth is 26 seconds. What is...
asked 3 hours ago -
(a) A piston at 6.1 atm contains a gas that occupies a volume of
3.5 L....
asked 4 hours ago -
Please answer true or false. Words
cannot be changed or added in to make it true...
asked 4 hours ago -
An empty test tube weighs 15.923 grams. Then,
MgCl2•6H2O is added into the test tube. After...
asked 4 hours ago -
Assume memory access is 10 units of time and disk access is
10000 units of time....
asked 4 hours ago -
1. Are all good samples random?
2. Magazines often report surveys giving statistics such as “63%...
asked 5 hours ago -
Under all the various types of market structures, firms
must eventually earn some economic profits for...
asked 4 hours ago -
Consider the following fitness regime for a single locus trait
with two co-dominant alleles: w11 =...
asked 4 hours ago