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Question 1 Calculate the missing information (indicated by shaded areas) from the following cash flow statements:...
Question 2 You are provided the following information about Lebron Sneakers Ltd. (Lebron) for fiscal 2017:...
Question 2 You are provided the following information about Lebron Sneakers Ltd. (Lebron) for fiscal 2017: Net income Accounts receivable on July 1, 2016 Accounts receivable on June 30, 2017 Inventory on July 1, 2016 Inventory on June 30, 2017 Accounts payable on July 1, 2016 Accounts payable on June 30, 2017 Unearned revenue on July 1, 2016 Unearned revenue on June 30, 2017 Depreciation expense for 2017 $ 877,500 292,500 375,000 1,162,500 1,432,500 675,000 735,000 1,500,000 375,000 300,000 Required:...
The following information was abstracted from the accounts of the General Fund of the City of...
The following information was abstracted from the accounts of the General Fund of the City of Rome after the books had been closed for the fiscal year ended June 30, 2017. Postclosing Trial Balance June 30, 2016 Transactions July 1, 2016, to June 30, 2017 Postclosing Trial Balance June 30, 2017 Debits Credits Cash $ 510,400 $ 1,298,000 $ 1,332,000 $ 476,400 Taxes Receivable 30,000 1,337,600 1,303,600 64,000 $ 540,400 $ 540,400 Allowance for Uncollectible Taxes 5,600 5,600 7,800 7,800...
Please explain with full explanations. Thanks Cash flow statements: Required: Prepare a cash flow statement for...
Please explain with full explanations. Thanks
Cash flow statements: Required: Prepare a cash flow statement for Anna's Apples Ltd using the information below. Use the indirect method for operating cash flows. Net profit for year ended 30 June 2015. | Cash Inventory Accounts Payable Unearned Revenue Prepaid Insurance Goodwill Equipment Acc Dep'n Equipment Loan Payable $ 30,000 $ 15,000 $ 12,000 $ 18,000 $ 50,000 $ 300,000 $ 150,000 $ 50,000 $ 20,000 $ 40,000 $ 30,000 $ 15,000 $...
ll. Cash Flow Statement-indirect method (25%) Shown below is information from the financial statements of Chapin...
ll. Cash Flow Statement-indirect method (25%) Shown below is information from the financial statements of Chapin Company for 2018 Beginning End of Year of Year 98,000 Accounts receivable nventory Prepaid expenses 106,000 $120,000 105,000 31,000 74,000 9,000 Accounts payable (for merchandise) Accrued liabilities Net sales 70,000 $28,000 30,000 8,000 t of goods sold Expenses (including depreciation of $43,000) 18,000 58,000 (a) On the basis of the above information, prepare a partial statement of cash lows, showing the computation of net...
che QE 6-9 Statement of Cash Flow The following is a Statement of Cash Flows for...
che QE 6-9 Statement of Cash Flow The following is a Statement of Cash Flows for the risk management internal service fund of the City of Wrightville. An inexperienced accountant prepared the statement using the FASB format rather than the format required by GASB. All long-term debt was issued to purchase capital assets. The transfer from the General Fund was to establish the internal service fund and provide the initial working capital necessary for operations. CITY OF WRIGHTVILLE Risk Management...
what was the net cash flow from operating activities? The following data is from the comparative...
what was the net cash flow from operating activities?
The following data is from the comparative balance sheets of Wilson Company: 2004 Cash Accounts Receivable Inventory Prepaid Insurance Investments Equipment Accum. Depreciation Totals $55,500 64,500 98,700 800 5,000 100,000 (32,000) 292,500 2003 $32,400 73,200 97,900 1,200 15,000 87,000 (22,000) 284,700 Accounts Payable Bonds Payable Common Stock Retained Earnings Totals 14,100 60,000 120,000 98,400 292,500 18,300 80,000 100,000 86,400 284,700 Here is some additional information Investments Equipment Accum. Depreciation Totals 5,000...
1)2) 3) Required information The following information applies to the questions displayed below. The following financial...
1)2)
3)
Required information The following information applies to the questions displayed below. The following financial statements and additional information are reported IKIBAN INC Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and...
Determining Net Cash Flow from Operating Activities Presented below are selected statement of financial position information...
Determining Net Cash Flow from Operating Activities Presented below are selected statement of financial position information and the statement of earnings information for Burch Company. Selected Statement of Financial Position Information Dec. 31, 2018 Dec. 31, 2017 Cash $17,500 $20,000 10,500 8,000 18,000 21,000 Accounts receivable Inventory Accounts payable Income taxes payable 10,000 15,000 1,000 2,500 Burch Company Statement of Earnings For the year ended December 31, 2018 Sales Cost of goods sold Depreciation expense $250,000 (160,000) (15,000) (35,000) (12,000)...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questions displayed belowj The following financial statements and additio...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questions displayed belowj The following financial statements and additional information are reported. IKIBAN Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total 1iabilities Equity Common stock,...
Financial Statement Analysis: Comparing Cash Flow Statements (000's) Calculate the missing items and answer the questions...
Financial Statement Analysis: Comparing Cash Flow Statements (000's) Calculate the missing items and answer the questions that follow. Correct answers will be verified with a bue font. Wal-Mart Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash 1/31/2016 27,389,000 (10,675,000) (16,122,000) (430,000) 1/31/2015 28,564,000 (11,125,000) (15,071,000) 1/31/2014 23,257,000 (12,526,000) (10,789,000) (500,000) 2/1/2014 (1,109,000) Sears Holding Company Cash flows from operating activities Cash flows from investing activities Cash flows from financing...
Question 2 You are provided the following information about Lebron Sneakers Ltd. (Lebron) for fiscal 2017: Net income Accounts receivable on July 1, 2016 Accounts receivable on June 30, 2017 Inventory on July 1, 2016 Inventory on June 30, 2017 Accounts payable on July 1, 2016 Accounts payable on June 30, 2017 Unearned revenue on July 1, 2016 Unearned revenue on June 30, 2017 Depreciation expense for 2017 $ 877,500 292,500 375,000 1,162,500 1,432,500 675,000 735,000 1,500,000 375,000 300,000 Required:...
Please explain with full explanations. Thanks
Cash flow statements: Required: Prepare a cash flow statement for Anna's Apples Ltd using the information below. Use the indirect method for operating cash flows. Net profit for year ended 30 June 2015. | Cash Inventory Accounts Payable Unearned Revenue Prepaid Insurance Goodwill Equipment Acc Dep'n Equipment Loan Payable $ 30,000 $ 15,000 $ 12,000 $ 18,000 $ 50,000 $ 300,000 $ 150,000 $ 50,000 $ 20,000 $ 40,000 $ 30,000 $ 15,000 $...
ll. Cash Flow Statement-indirect method (25%) Shown below is information from the financial statements of Chapin Company for 2018 Beginning End of Year of Year 98,000 Accounts receivable nventory Prepaid expenses 106,000 $120,000 105,000 31,000 74,000 9,000 Accounts payable (for merchandise) Accrued liabilities Net sales 70,000 $28,000 30,000 8,000 t of goods sold Expenses (including depreciation of $43,000) 18,000 58,000 (a) On the basis of the above information, prepare a partial statement of cash lows, showing the computation of net...
che QE 6-9 Statement of Cash Flow The following is a Statement of Cash Flows for the risk management internal service fund of the City of Wrightville. An inexperienced accountant prepared the statement using the FASB format rather than the format required by GASB. All long-term debt was issued to purchase capital assets. The transfer from the General Fund was to establish the internal service fund and provide the initial working capital necessary for operations. CITY OF WRIGHTVILLE Risk Management...
what was the net cash flow from operating activities?
The following data is from the comparative balance sheets of Wilson Company: 2004 Cash Accounts Receivable Inventory Prepaid Insurance Investments Equipment Accum. Depreciation Totals $55,500 64,500 98,700 800 5,000 100,000 (32,000) 292,500 2003 $32,400 73,200 97,900 1,200 15,000 87,000 (22,000) 284,700 Accounts Payable Bonds Payable Common Stock Retained Earnings Totals 14,100 60,000 120,000 98,400 292,500 18,300 80,000 100,000 86,400 284,700 Here is some additional information Investments Equipment Accum. Depreciation Totals 5,000...
1)2)
3)
Required information The following information applies to the questions displayed below. The following financial statements and additional information are reported IKIBAN INC Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and...
Determining Net Cash Flow from Operating Activities Presented below are selected statement of financial position information and the statement of earnings information for Burch Company. Selected Statement of Financial Position Information Dec. 31, 2018 Dec. 31, 2017 Cash $17,500 $20,000 10,500 8,000 18,000 21,000 Accounts receivable Inventory Accounts payable Income taxes payable 10,000 15,000 1,000 2,500 Burch Company Statement of Earnings For the year ended December 31, 2018 Sales Cost of goods sold Depreciation expense $250,000 (160,000) (15,000) (35,000) (12,000)...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questions displayed belowj The following financial statements and additional information are reported. IKIBAN Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total 1iabilities Equity Common stock,...
Financial Statement Analysis: Comparing Cash Flow Statements (000's) Calculate the missing items and answer the questions that follow. Correct answers will be verified with a bue font. Wal-Mart Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash 1/31/2016 27,389,000 (10,675,000) (16,122,000) (430,000) 1/31/2015 28,564,000 (11,125,000) (15,071,000) 1/31/2014 23,257,000 (12,526,000) (10,789,000) (500,000) 2/1/2014 (1,109,000) Sears Holding Company Cash flows from operating activities Cash flows from investing activities Cash flows from financing...
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