Homework Answers
| Requirement b | ||
| DAIR COMPANY | ||
| Statement of Cash Flows | ||
| For the year Ended December 31, 2017 | ||
| Cash flows from operating Activities | ||
| Cash received from customers | 695000 | |
| Cash paid for merchandise purchased | -428000 | |
| cash paid for wages and other operating expenses | -97000 | |
| Cash paid for interest | -13000 | |
| Cash paid for income taxes | -38000 | -576000 |
| Net cash provided by operating activities | 119000 | |
| Cash flows from Investing activities | ||
| Sale of equipment | 17000 | |
| Cash flows from Financing Activities | ||
| Retirement of Bonds payable | -125000 | |
| Issuance of common stock | 24000 | |
| Payment of dividends | -26000 | |
| Net cash used by financing activities | -127000 | |
| Net Increase (decrease) in cash | 9000 | |
| Cash at beginning of year | 18000 | |
| Cash at ending of year | 27000 | |
| Requirement c. | ||
| (1) Supplemental Cash flow Disclosures | ||
| Cash paid for interest | -13000 | |
| Cash paid for income taxes | -38000 | |
| (2) Schedule of Non cash investing and financing activities | ||
| Issuance of Bonds payable to Acquire Equipment | 60000 | |
Add Answer to:
Statement of Cash Flows (Direct Method) Dair Company's income statement and comparative balance sheets follow. $...
Statement of Cash Flows (Indirect Method) Dair Company's income statement and comparative balance sheets follow. DAIR...
Statement of Cash Flows (Indirect Method) Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31,2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 21,000 Amortization expense 6,000 Interest expense 10,000 Income tax expense 36,000 Loss on bond retirement 5,000 613,000 Net income $87,000 DAIR COMPANY Balance Sheets Dec. 31, 2011 Dec. 31, 2010 Assets Cash $ 22,000 $ 18,000 Accounts receivable 54,000...
Statement of Cash Flows (Direct Method) Dair Company's income statement and comparative balance sheets follow. DAIR...
Statement of Cash Flows (Direct Method) Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 22,000 Amortization expense 7.000 Interest expenses 6,000 Income tax expense 34,000 Loss on bond retirement 5.000 609,000 Net income 591.000 Support DAIR COMPANY Balance Sheets Dec. 31, 2011 Dec. 31, 2010 Assets Cash $ 45,000 $22.000 Accounts receivable...
Statement of Cash Flows (Direct Method) Dair Company's income statement and comparative balance sheets follow. DAIR...
Statement of Cash Flows (Direct Method) Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 22,000 Amortization expense 7,000 Interest expense 6,000 Income tax expense 34,000 Loss on bond retirement 5,000 609,000 Net income $91,000 DAIR COMPANY Balance Sheets Dec. 31, 2011 Dec. 31, 2010 Assets Cash $ 45,000 53,000 103,000 12,000 358,000...
Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended...
Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 21,000 Amortization expense 6,000 Interest expense 10,000 Income tax expense 36,000 Loss on bond retirement 5,000 613,000 Net income $87,000 DAIR COMPANY Balance Sheets Dec 31, 2011 Dec 31, 2010 Assets Cash $ 22,000 $18,000 Accounts receivable 54,000 48,000 Inventory 103,000 109,000 Prepaid expenses...
Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended...
Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 21,000 Amortization expense 6,000 Interest expense 10,000 Income tax expense 36,000 Loss on bond retirement 5,000 613,000 Net income $87,000 DAIR COMPANY Balance Sheets Dec 31, 2011 Dec 31, 2010 Assets Cash $ 22,000 $18,000 Accounts receivable 54,000 48,000 Inventory 103,000 109,000 Prepaid expenses...
Business Course # My Subscriptions - Statement of Cash Flows (Direct Method) Dair Company's income statement...
Business Course # My Subscriptions - Statement of Cash Flows (Direct Method) Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700.000 Cost of goods sold Wages and other operating expenses 95,000 Depreciation expense 22,000 Amortization expense Interest expense Income tax expense 34,000 Loss on bond retirement 5,000 609,000 Net income 591,000 $ 440,000 7.000 6.000 Support eest expense DAIR COMPANY Balance Sheets Dec. 31, 2011 Dec. 31,...
Statement of Cash Flows (Direct Method) The Dairy Company's income statement and comparative balance sheets as...
Statement of Cash Flows (Direct Method) The Dairy Company's income statement and comparative balance sheets as of December 31 of 2016 and 2015 follow: DAIRY COMPANY Income Statement For the Year Ended December 31, 2016 Sales Revenue $700,000 Cost of Goods Sold $460,000 Wages and Other Operating Expenses 95,000 Depreciation Expense 22,000 Patent Amortization Expense 7,000 Interest Expense 10,000 Income Tax Expense 36,000 Loss on Bond Retirement 5,000 635,000 Net Income 65,000 DAIRY COMPANY Balance Sheets Dec. 31, 2016 Dec....
Prepare a statement of cash flows for Dair Company using: a. the indirect method b. the...
Prepare a statement of cash flows for Dair Company using:
a. the indirect method
b. the direct method
DAIR COMPANY Income Statement For Year Ended December 31, 2013 $700,000 Sales ..... $440,000 95,000 22,000 7,000 10,000 36,000 5,000 Cost of goods sold Wages and other operating expenses. Depreciation expense.. Amortisation expense. Interest expense . Income tax expense Loss on bond retirement. 615,000 Net income..... $ 85,000 DAIR COMPANY Balance Sheets Dec. 31, 2013 Dec. 31, 2012 Assets $ 27,000 53,000...
Preparing a Statement of Cash Flows (Direct Method) Rainbow Company's income statement and comparative balance sheets...
Preparing a Statement of Cash Flows (Direct Method) Rainbow Company's income statement and comparative balance sheets follow. RAINBOW COMPANY Income Statement For Year Ended December 31, 2018 Sales $750,000 Dividend Income 15,000 Total Revenue 765,000 Cost of Goods Sold $440,000 Wages and Other Operating Expenses 130,000 Depreciation Expense 39,000 Patent Amortization Expense 7,000 Interest Expense 13,000 Income Tax Expense 44,000 Loss on Sale of Equipment 5,000 Gain on Sale of Investments (3,000) 675,000 Net Income $90,000 RAINBOW COMPANY Balance Sheets...
m Preparing a Statement of Cash Flows (Direct Method) Rainbow Company's income statement and comparative balance...
m
Preparing a Statement of Cash Flows (Direct Method) Rainbow Company's income statement and comparative balance sheets follow. RAINBOW COMPANY Income Statement For Year Ended December 31, 2016 Sales $2,250,000 Dividend Income 45,000 2,295,000 $1,320,000 390,000 117,000 21,000 Total Revenue Cost of Goods Sold Wages and Other Operating Expenses Depreciation Expense Patent Amortization Expense Interest Expense Income Tax Expense Loss on Sale of Equipment Gain on Sale of Investments Net Income 39,000 132,000 15,000 (9,000) 2,025,000 $270,000 RAINBOW COMPANY Balance...
Statement of Cash Flows (Indirect Method) Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31,2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 21,000 Amortization expense 6,000 Interest expense 10,000 Income tax expense 36,000 Loss on bond retirement 5,000 613,000 Net income $87,000 DAIR COMPANY Balance Sheets Dec. 31, 2011 Dec. 31, 2010 Assets Cash $ 22,000 $ 18,000 Accounts receivable 54,000...
Statement of Cash Flows (Direct Method) Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 22,000 Amortization expense 7.000 Interest expenses 6,000 Income tax expense 34,000 Loss on bond retirement 5.000 609,000 Net income 591.000 Support DAIR COMPANY Balance Sheets Dec. 31, 2011 Dec. 31, 2010 Assets Cash $ 45,000 $22.000 Accounts receivable...
Statement of Cash Flows (Direct Method) Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 22,000 Amortization expense 7,000 Interest expense 6,000 Income tax expense 34,000 Loss on bond retirement 5,000 609,000 Net income $91,000 DAIR COMPANY Balance Sheets Dec. 31, 2011 Dec. 31, 2010 Assets Cash $ 45,000 53,000 103,000 12,000 358,000...
Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 21,000 Amortization expense 6,000 Interest expense 10,000 Income tax expense 36,000 Loss on bond retirement 5,000 613,000 Net income $87,000 DAIR COMPANY Balance Sheets Dec 31, 2011 Dec 31, 2010 Assets Cash $ 22,000 $18,000 Accounts receivable 54,000 48,000 Inventory 103,000 109,000 Prepaid expenses...
Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700,000 Cost of goods sold $ 440,000 Wages and other operating expenses 95,000 Depreciation expense 21,000 Amortization expense 6,000 Interest expense 10,000 Income tax expense 36,000 Loss on bond retirement 5,000 613,000 Net income $87,000 DAIR COMPANY Balance Sheets Dec 31, 2011 Dec 31, 2010 Assets Cash $ 22,000 $18,000 Accounts receivable 54,000 48,000 Inventory 103,000 109,000 Prepaid expenses...
Business Course # My Subscriptions - Statement of Cash Flows (Direct Method) Dair Company's income statement and comparative balance sheets follow. DAIR COMPANY Income Statement For Year Ended December 31, 2011 Sales $ 700.000 Cost of goods sold Wages and other operating expenses 95,000 Depreciation expense 22,000 Amortization expense Interest expense Income tax expense 34,000 Loss on bond retirement 5,000 609,000 Net income 591,000 $ 440,000 7.000 6.000 Support eest expense DAIR COMPANY Balance Sheets Dec. 31, 2011 Dec. 31,...
Statement of Cash Flows (Direct Method) The Dairy Company's income statement and comparative balance sheets as of December 31 of 2016 and 2015 follow: DAIRY COMPANY Income Statement For the Year Ended December 31, 2016 Sales Revenue $700,000 Cost of Goods Sold $460,000 Wages and Other Operating Expenses 95,000 Depreciation Expense 22,000 Patent Amortization Expense 7,000 Interest Expense 10,000 Income Tax Expense 36,000 Loss on Bond Retirement 5,000 635,000 Net Income 65,000 DAIRY COMPANY Balance Sheets Dec. 31, 2016 Dec....
Prepare a statement of cash flows for Dair Company using:
a. the indirect method
b. the direct method
DAIR COMPANY Income Statement For Year Ended December 31, 2013 $700,000 Sales ..... $440,000 95,000 22,000 7,000 10,000 36,000 5,000 Cost of goods sold Wages and other operating expenses. Depreciation expense.. Amortisation expense. Interest expense . Income tax expense Loss on bond retirement. 615,000 Net income..... $ 85,000 DAIR COMPANY Balance Sheets Dec. 31, 2013 Dec. 31, 2012 Assets $ 27,000 53,000...
Preparing a Statement of Cash Flows (Direct Method) Rainbow Company's income statement and comparative balance sheets follow. RAINBOW COMPANY Income Statement For Year Ended December 31, 2018 Sales $750,000 Dividend Income 15,000 Total Revenue 765,000 Cost of Goods Sold $440,000 Wages and Other Operating Expenses 130,000 Depreciation Expense 39,000 Patent Amortization Expense 7,000 Interest Expense 13,000 Income Tax Expense 44,000 Loss on Sale of Equipment 5,000 Gain on Sale of Investments (3,000) 675,000 Net Income $90,000 RAINBOW COMPANY Balance Sheets...
m
Preparing a Statement of Cash Flows (Direct Method) Rainbow Company's income statement and comparative balance sheets follow. RAINBOW COMPANY Income Statement For Year Ended December 31, 2016 Sales $2,250,000 Dividend Income 45,000 2,295,000 $1,320,000 390,000 117,000 21,000 Total Revenue Cost of Goods Sold Wages and Other Operating Expenses Depreciation Expense Patent Amortization Expense Interest Expense Income Tax Expense Loss on Sale of Equipment Gain on Sale of Investments Net Income 39,000 132,000 15,000 (9,000) 2,025,000 $270,000 RAINBOW COMPANY Balance...
Most questions answered within 3 hours.
-
A college student is employed as a door-to-door newspaper
salesman. Historical data suggests that the student...
asked 12 minutes ago -
Considering gravitational time dilation, calculate the time that
passes in Earth’s surface while 1 hour passes...
asked 36 minutes ago -
Minitab Problem: Take the Lake Hume June rainfall data and find
use the processes outlined in...
asked 1 hour ago -
X Company is trying to decide whether to continue using old
equipment to make Product A...
asked 1 hour ago -
IN PYTHON ONLY !! Program 2: Re-work
program #5 (WeeklyHours) from the previous assignment such that...
asked 2 hours 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 5 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 5 hours ago