Homework Answers
CASH FLOW STATEMENT
| PARTICULARS | DETAILS | AMOUNT | AMOUNT |
| (IN $) | (IN $) | ||
| 1. CASH FLOW FROM OPERATING ACTIVITIES: | |||
| NET PROFIT AS PER INCOME STATEMENT | 95 | ||
| ADD: DEPRECIATION | 91 | ||
| 186 | |||
| CHANGES IN WORKING CAPITAL | |||
| LESS: INCREASE IN OTHER CURRENT ASSETS | (165-180) | -15 | |
| ADD: INCREASE IN ACCOUNTS PAYABLE | (125-115) | 10 | |
| NET CASH IN FLOW FROM OPERATING ACTIVITIES | 181 | ||
| 2. CASH FLOW FROM INVESTING ACTIVITIES: | |||
| PURCHASE OF FIXED ASSETS | (370-91-400) | -121 | |
| NET CASH OUT FLOW FROM INVESTING ACTIVITIES | -121 | ||
| 3. CASH FLOW FROM FINANCING ACTIVITIES: | |||
|
ISSUE OF LONG TERM DEBT |
(145-130) | 15 | |
| DIVIDEND PAID | -75 | ||
| NET CASH OUT FLOW FROM FINANCING ACTIVITIES | -60 | ||
| NET CASH GENERATED FROM ACTIVITIES (1 + 2+ 3) | 0 | ||
| ADD: OPENING CASH & CASH EQUIVALENT | 55 | ||
| CLOSING CASH & CASH EQUIVALENT | 55 |
ANSWER OPTION 4.
CASH FLOW FROM OPERATING ACTIVITIES = $181
CASH FLOW FROM INVESTING ACTIVITIES = -$121
CASH FLOW FROM FINANCING ACTIVITIES = -$60
Add Answer to:
Critter corp. prepared the following financial statements for year-end 2018. Income Statement 2018 Revenue Expenses Depreciation...
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue...
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 717,000 340,000 377,000 Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense $ 46,000 180,000 Other Operating Expenses Total Operating Expenses 226,000 $ 151,000 Net Income i Data Table Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash Accounts Receivable 18,000 $ 56,000 83,000 14,000 49,000 86,000 Merchandise Inventory Long-term Assets: Plant Assets...
Some recent financial statements for Smolira Golf Corp. follow. SMOLIRA GOLF CORP. 2017 and 2018...
Some recent financial statements for Smolira Golf Corp.
follow.
SMOLIRA GOLF CORP.
2017 and 2018 Balance Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
Current liabilities
Cash
$
34,785
$
38,204
Accounts payable
$
37,282
$
42,782
Accounts receivable
18,001
28,126
Notes payable
19,408
16,500
Inventory
3,730
42,792
Other
20,224
24,954
Total
$
56,516
$
109,122
Total
$
76,914
$
84,236
Long-term debt
$
117,000
$
182,015
Owners’ equity
Common stock and paid-in
surplus
$...
The 2018 income statement and comparative balance sheet of Get Wired, Inc. follow: EEB (Click the...
The 2018 income statement and comparative balance sheet of Get Wired, Inc. follow: EEB (Click the icon to view the income statement) ell (Click the icon to view the comparative balance sheet.) Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities Net Cash Provided by (Used...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
Here are the recent financial statements for Snyder Foods: 2017 Income Statement Sales 2,000 COGS 1,500...
Here are the recent financial statements for Snyder Foods: 2017 Income Statement Sales 2,000 COGS 1,500 EBIT 500 Interest expense 20 Taxable income 480 Taxes 192 Net Income 288 2017 Balance Sheet Cash 100 Accounts payable 150 Accounts receivable 70 Total current liabilities 150 Inventory 130 Total current assets 300 Long-term debt 250 Common stock 100 Fixed assets 700 Retained earnings 500 Total stockholders equity 600 Total 1000 Total 1000 2017 Statement of Cash Flows Operating activities: Net Income 288...
The following information is available for two different types of businesses for the 2018 accounting year....
The following information is available for two different types of businesses for the 2018 accounting year. Hopkins CPAs is a service business that provides accounting services to small businesses. Sports Clothing is a merchandising business that sells sports clothing to college students. Data for Hopkins CPAS 1. Borrowed $39,000 from the bank to start the business. 2. Provided $39,000 of services to clients and collected $39,000 cash. 3. Paid salary expense of $25,000. Data for Sports Clothing 1. Borrowed $39,000...
itter Corporation's accountants prepared the following financial sta year-end 2015: Cash Flows RITTER CORPORATION Statement of...
itter Corporation's accountants prepared the following financial sta year-end 2015: Cash Flows RITTER CORPORATION Statement of Comprehensive Income 2015 Revenue Expenses Depreciation Net income Dividends $750 565 90 $ 95 $ 75 RITTER CORPORATIONN Statement of Financial Position December 31 2015 2014 Assets Cash Other current assets Net fixed assets $65 170 390 $625 $55 165 370 $590 Total assets Liabilities and equity Accounts payable Long-term debt Shareholders' equity $125 145 355 Total liabilities and equity$625 $115 140 335 $590...
Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts...
Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory Total $ 34,685 17.951 3,700 $ 42,732 16.425 24,874 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 38,112 Accounts payable $ 37,092 28,036 Notes payable 19.308 42,752 Other 20,134 $ 108,900 Total $ 76,534 Long-term debt $ 116.500 Owners' equity Common stock and paid-in surplus $ 55,300 Accumulated retained earnings 272,552 $ 56,336...
The 2018 comparative balance sheet and income statement of Attleboro Group, Inc. follow. Attleboro disposed of...
The 2018 comparative balance sheet and income statement of
Attleboro Group, Inc. follow. Attleboro disposed of a plant asset
at book value during 2018.
The 2018 comparative balance sheet and income statement of Attleboro Group, Inc. follow. Attleboro disposed of a plant asset at book value during 2018 EEE (Click the icon to view the comparative balance sheet.) EEB (Click the icon to view the income statement.) Prepare the spreadsheet for the 2018 statement of cash flows. Format cash flows...
Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts...
Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 39,400 Accounts payable $ 39,752 29,296 Notes payable 20,708 43,312 Other 21,394 $ 36,085 18,651 4,120 20 $ 43,432 17,475 25,994 Total $ 58,856 $ 112,008 Total $ 81,854 $ 86,901 Long-term debt $ 123,500 $ 187,898 $ 56,700 Owners' equity Common stock and paid-in...
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 717,000 340,000 377,000 Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense $ 46,000 180,000 Other Operating Expenses Total Operating Expenses 226,000 $ 151,000 Net Income i Data Table Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash Accounts Receivable 18,000 $ 56,000 83,000 14,000 49,000 86,000 Merchandise Inventory Long-term Assets: Plant Assets...
Some recent financial statements for Smolira Golf Corp.
follow.
SMOLIRA GOLF CORP.
2017 and 2018 Balance Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
Current liabilities
Cash
$
34,785
$
38,204
Accounts payable
$
37,282
$
42,782
Accounts receivable
18,001
28,126
Notes payable
19,408
16,500
Inventory
3,730
42,792
Other
20,224
24,954
Total
$
56,516
$
109,122
Total
$
76,914
$
84,236
Long-term debt
$
117,000
$
182,015
Owners’ equity
Common stock and paid-in
surplus
$...
The 2018 income statement and comparative balance sheet of Get Wired, Inc. follow: EEB (Click the icon to view the income statement) ell (Click the icon to view the comparative balance sheet.) Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities Net Cash Provided by (Used...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
The following information is available for two different types of businesses for the 2018 accounting year. Hopkins CPAs is a service business that provides accounting services to small businesses. Sports Clothing is a merchandising business that sells sports clothing to college students. Data for Hopkins CPAS 1. Borrowed $39,000 from the bank to start the business. 2. Provided $39,000 of services to clients and collected $39,000 cash. 3. Paid salary expense of $25,000. Data for Sports Clothing 1. Borrowed $39,000...
itter Corporation's accountants prepared the following financial sta year-end 2015: Cash Flows RITTER CORPORATION Statement of Comprehensive Income 2015 Revenue Expenses Depreciation Net income Dividends $750 565 90 $ 95 $ 75 RITTER CORPORATIONN Statement of Financial Position December 31 2015 2014 Assets Cash Other current assets Net fixed assets $65 170 390 $625 $55 165 370 $590 Total assets Liabilities and equity Accounts payable Long-term debt Shareholders' equity $125 145 355 Total liabilities and equity$625 $115 140 335 $590...
Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory Total $ 34,685 17.951 3,700 $ 42,732 16.425 24,874 SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 38,112 Accounts payable $ 37,092 28,036 Notes payable 19.308 42,752 Other 20,134 $ 108,900 Total $ 76,534 Long-term debt $ 116.500 Owners' equity Common stock and paid-in surplus $ 55,300 Accumulated retained earnings 272,552 $ 56,336...
The 2018 comparative balance sheet and income statement of
Attleboro Group, Inc. follow. Attleboro disposed of a plant asset
at book value during 2018.
The 2018 comparative balance sheet and income statement of Attleboro Group, Inc. follow. Attleboro disposed of a plant asset at book value during 2018 EEE (Click the icon to view the comparative balance sheet.) EEB (Click the icon to view the income statement.) Prepare the spreadsheet for the 2018 statement of cash flows. Format cash flows...
Some recent financial statements for Smolira Golf Corp. follow. Assets 2017 2018 Current assets Cash Accounts receivable Inventory SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 39,400 Accounts payable $ 39,752 29,296 Notes payable 20,708 43,312 Other 21,394 $ 36,085 18,651 4,120 20 $ 43,432 17,475 25,994 Total $ 58,856 $ 112,008 Total $ 81,854 $ 86,901 Long-term debt $ 123,500 $ 187,898 $ 56,700 Owners' equity Common stock and paid-in...
Most questions answered within 3 hours.
-
Use generating function to find the number of distributions of
20 people into four different rooms...
asked 12 minutes ago -
The following data set consists the number of minutes a sample
of 25 people run every...
asked 16 minutes ago -
Suppose vacuum cleaners are part of the market basket used to
compute the CPI. Suppose also...
asked 28 minutes ago -
What intermediate results after the addition of H3O+ to
E-3-methyl-2-pentane?
pentene*
asked 33 minutes ago -
Potassium hydrogen phthalate is a solid, monoprotic acid
frequently used in the laboratory to standardize strong...
asked 52 minutes ago -
1-Describe the 3 major classes of ownerships of retailers
2-What are the differences between consumer and...
asked 35 minutes ago -
A Student takes a sample from a table top in the student lounge
using a sterile...
asked 43 minutes ago -
Give an answer that's easy to understand. Define stack data
structure. Show how the Stack operations...
asked 52 minutes ago -
The following financial information is for Annapolis Corporation
are for the fiscal years ending 2019 &...
asked 41 minutes ago -
Which prezygotic barrier to reproduction results in hybrid
sterility?
Question 11 options:
A)
Habitat isolation
B)...
asked 52 minutes ago -
You own a portfolio that has $2709 invested in Stock A and $4387
invested in Stock...
asked 1 hour ago -
A parameter estimate is said to be statistically significant if
there is sufficient evidence that the...
asked 1 hour ago