NOSKER COMPANY | ||||||
Cash Flow Statement as on 31-12-2020 | ||||||
Cash flow from Operating Activities | ||||||
Net Income | $ 30,600 | |||||
Add : Provision for expense | $ 8,800 | |||||
Adjustments for : | ||||||
Add | Depreciation | $ 15,900 | ||||
Add | Interest expense | $ 2,700 | ||||
Operating profit before before working capital changes | $ 58,000 | |||||
Adjustments for : | ||||||
Less | Increase in Account receivable | $ 13,400 | ||||
(32700-19300) | ||||||
Less | Increase in Inventory | $ 5,650 | ||||
(26650-21000) | ||||||
Add | Increase in Account payable | $ 11,800 | ||||
(28350-16550) | ||||||
Cash generated from Operation | $ 50,750 | |||||
Income tax paid (Working Note 1) | $ 9,800 | |||||
Net cash flow from operating activities | $ 40,950 | |||||
Cash flow from Investing Activities | ||||||
Sale of Equipments | $ 8,500 | |||||
Net Cash flow from Investing Activities | $ 8,500 | |||||
Cash flow from Financing Activities | ||||||
Bonds disposal | $ -4,250.00 | |||||
(32250-28000) | ||||||
Additions of Common stock | $ 3,900.00 | |||||
(17950-14050) | ||||||
Dividend Paid | $ -31,500.00 | |||||
Interest expense | $ -2,700.00 | |||||
Net Cash flow from Financing Activities | $ -34,550.00 | |||||
Net Decrease cash and cash and equivalent | $ 14,900.00 | |||||
Add | Opening Cash and cash equivalent | $ 19,250.00 | ||||
Closing Cash and cash equivalent | $ 34,150.00 |
Workigs note 1 | |||
Income Tax payable Account | |||
By Balance B/d | $ 8,200.00 | ||
Tax Paid | $ 9,800.00 | Income tax expense | $ 8,800.00 |
To Balance B/d | $ 7,200.00 | ||
$ 17,000.00 | $ 17,000.00 |
Workings 2 : Sale of Equipment
Equipment cost | |
sold value | $ 8,500.00 |
Book value | $ 8,500.00 |
Profit | $ - |
Workings 3 : Equipment Summary for Asset and Accumulated Depreciation
Equipment | |
opening Equipment | $ 77,200 |
sold Equipment | $ -17,700 |
Closing of Equipment | $ 59,500 |
Accumulate depreciation for Equipment | |
Opening Accumulate depreciation for Equipment | $ 23,200 |
Accumulate depreciation for sold Equipment | $ -9,200 |
Balance after sold | $ 14,000 |
Add : Current year depreciation | $ 15,900 |
Closing accumulated depreciation | $ 29,900 |
please answer asap, thank you! The following are the financial statements of Nosker Company. NOSKER COMPANY...
*Problem 17-07A (Video) The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 Cash $35,550 Accounts receivable 32,300 Inventory 26,000 Equipment 59,500 Accumulated depreciation-equipment (29,250) Total $124,100 2019 $20,750 19,250 20,100 77,200 (23,600) $113,700 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,700 7,050 27,700 17,750 42,900 $ 124,100 $ 16,050 8,350 32,300 14,150 42,850 $113,700 NOSKER COMPANY Income Statement For the Year Ended...
The following are the financial statements of Nosker Company NOSKER COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment Total 2020 $38,000 32,300 30,800 59,300 (29,700) $130,700 2019 $19,500 19,500 20,900 77,200 (23,900) $113,200 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,400 7,100 27,100 18,600 49,500 $130,700 $ 16,300 8,300 33,500 15,000 40,100 $113,200 $241,000 NOSKER COMPANY Income Statement For the Year Ended December 31, 2020...
URCES The following are the financial statements of Nosker Company. ed NOSKER COMPANY Comparative Balance Sheets December 31 Video) Assets (Video) aission) 2020 2019 Cash $34,350 32,600 $19,600 Accounts receivable 18,600 Study Inventory 26,350 20,750 Equipment 59,250 77,800 Accumulated depreciation-equipment (29,700) $122,850 (23,400) $113,350 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable $28,150 $ 16,850 7,050 8,350 Bonds payable 27,700 33,950 17,200 13,850 Common stock 42,750 40,350 Retained earnings $113,350 $122,850 Total NOSKER COMPANY Income Statement For the...
P17.7A (LO 2, 3) Financial Statement The following are the financial statements of Nosker Company. Nosker Company Comparative Balance Sheets December 31 Assets 2020 Cash $ 38,000 Accounts receivable 30,000 Inventory 27,000 Equipment 60.000 Accumulated depreciation equipment (29,000) Total $126,000 Liabilities and Stockholders' Equity Accounts payable $ 24,000 Income taxes payable 7,000 Bonds payable 27,000 Common stock 18,000 Retained earnings 50,000 Total $126.000 2019 $ 20,000 14.000 20,000 78,000 (24.000) $108,000 $ 15,000 8,000 33.000 14.000 38.000 $108,000 Nosker Company...
The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $34,000 $19,100 Accounts receivable 32,900 18,750 Inventory 26,350 20,400 Equipment 59,050 77,600 Accumulated depreciation—equipment (30,000 ) (23,150 ) Total $122,300 $112,700 Liabilities and Stockholders’ Equity Accounts payable $28,050 $ 16,400 Income taxes payable 7,050 8,100 Bonds payable 27,200 32,900 Common stock 18,900 13,150 Retained earnings 41,100 42,150 Total $122,300 $112,700 NOSKER COMPANY Income Statement For the Year Ended December 31,...
Problem 13-8A Presented below are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment 2015 $38,000 30,000 27,000 60,000 (29,000) 2014 $20,000 14,000 20,000 78,000 (24,000) Total $126,000 $108,000 Liabilities and Stockholders' Equit Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $24,000 7,000 27,000 18,000 50,000 $126,000 $ 15,000 8,000 33,000 14,000 38,000 $108,000 Total NOSKER COMPANY ncome Statement For the Year Ended December 31,...
Problem 13-7A (Part Level Submission) Presented below are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2015 Cash $34,440 Accounts receivable 32,740 Inventory 26,900 Equipment 59,520 Accumulated depreciation-equipment (29,940 ) Total $123,660 2014 $19,420 18,620 20,940 77,380 (23,580 ) $112,780 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,190 7,430 27,000 17,080 43,960 $123,660 $ 16,030 8,450 33,520 13,150 41,630 $112,780 NOSKER COMPANY Income Statement For...
Presented below are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2015 2014 Cash $34,870 $19,900 Accounts receivable 32,110 18,370 Inventory 26,790 20,940 Equipment 59,950 77,630 Accumulated depreciation—equipment (29,190 ) (23,720 ) Total $124,530 $113,120 Liabilities and Stockholders’ Equity Accounts payable $28,400 $ 16,830 Income taxes payable 7,290 8,090 Bonds payable 26,030 33,870 Common stock 18,800 14,480 Retained earnings 44,010 39,850 Total $124,530 $113,120 NOSKER COMPANY Income Statement For the Year Ended December 31,...
Assignment Gradebook ORION Downloadable eTextbook nt NOSKER COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment 2017 2016 $35,250 $20,150 19,700 20,700 77,900 (29,200) (23,750) $123,350 $114,700 32,050 26,200 59,050 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,650 16,700 8,100 26,600 32,050 14,250 43,600 $123,350 $114,700 7,450 18,550 42,100 Total NOSKER COMPANY Income Statement For the Year Ended December 31, 2017 $241,750 175,450 Sales revenue Cost...
NOSKER COMPANY Comparative Balance Sheet December 31 2017 2016 Assets Cash $38,000 $20,000 Accounts Receivable 30,000 14,000 Inventory 27,000 20,000 78,000 Equipment Accumulated depreciation-equipment 60,000 (29,000) $126,000 (24,000) $108,000 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable $24,000 $15,000 7,000 8,000 27,000 33,000 Common stock 18,000 14,000 38,000 $108,000 Retained earnings 50,000 Total $126,000 NOSKER COMPANY Income Statement For the Year ended December 31, 2017 Sales revenue $242,000 Cost of goods sold Gross profit 175,000 67,000...