Prepare a Statement of Cash Flows from following information related to Internal Service Fund of City...
Prepare a Statement of Cash Flows from following information related to Internal Service Fund of City of Riyadh.
Purchase of Capital Assets $ 50,000
Receipts from Customers 400,000
Payment to Suppliers 85,000
Cash Balance at the Beginning of the year 25,000
Operating Income 9,000
Depreciation 8,000
Decrease in Inventories 2,000
Increase in Account Payable 4,000
Interest Received 12,000
please, writen answer
Homework Answers
| Cash Flow Statement | |||
| Cash flow from Operating Activities | |||
| Cash Collected from Customers | $ 4,00,000.00 | ||
| Cash paid to Suppliers | $ -85,000.00 | ||
| Cash from operating activities | $ 3,15,000.00 | ||
| Cash flow from Investing Activities | |||
| Purchase of capital assets | $ -50,000.00 | ||
| Interest Received | $ 12,000.00 | ||
| Cash used in investing activities | $ -38,000.00 | ||
| Net Increase in cash | $ 2,77,000.00 | ||
| Opening Balance of Cash | $ 25,000.00 | ||
| Closing Balance of Cash | $ 3,02,000.00 |
Add Answer to:
Prepare a Statement of Cash Flows from following information
related to Internal Service Fund of City...
Prepare a Statement of Cash Flows from following information related to Internal Service Fund of City...
Prepare a Statement of Cash Flows from following information related to Internal Service Fund of City of Riyadh. (2 Marks) Purchase of Capital Assets $ 50,000 Receipts from Customers 400,000 Payment to Suppliers 85,000 Cash Balance at the Beginning of the year 25,000 Operating Income 9,000 Depreciation 8,000 Decrease in Inventories 2,000 Increase in Account Payable 4,000 Interest Received 12,000
3. Prepare a Statement of Cash Flows from following information related to Internal Service Fund of...
3. Prepare a Statement of Cash Flows from following information related to Internal Service Fund of City of Riyadh. (2 Marks) Purchase of Capital Assets $ 50,000 Receipts from Customers 400,000 Payment to Suppliers 85,000 Cash Balance at the Beginning of the year 25,000 Operating Income 9,000 Depreciation 8,000 Decrease in Inventories 2,000 Increase in Account Payable 4,000 Interest Received 12,000
The following is a Statement of Cash Flows for the risk management internal service fund of...
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. $ 930,000 (125,000) (729,100) 260,500 26,000 (15,500) 346,900 CITY OF WRIGHTVILLE Risk...
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...
6–C. Part 1. Internal Service Fund Transactions The Stores and Service Fund of the City of...
6–C. Part 1. Internal Service Fund Transactions The Stores and Service Fund of the City of Monroe had the following account balances as of January 1, 2017: Debits Credits Cash $28,000 Due from other funds 27,000 Inventory of supplies 27,500 Land 18,000 Buildings 84,000 Accumulated depreciation—buildings $30,000 Equipment 46,000 Accumulated depreciation—equipment 25,000 Accounts payable 19,000 Advance from water utility fund 30,000 Net position 126,500 Totals $230,500 $230,500 Required: a. Open a general journal for the City of Monroe Stores and...
6-C. Part 1. Internal Service Fund Transactions The Stores and Service Fund of the City of...
6-C. Part 1. Internal Service Fund Transactions The Stores and Service Fund of the City of Monroe had the following account balances as of January 1, 2017: Debits Credits Cash $28,000 Due from other funds 27,000 Inventory of supplies 27,500 Land 18,000 Buildings 84,000 Accumulated depreciation- buildings $30,000 Equipment 46,000 Accumulated depreciation- equipment 25,000 Accounts payable 19,000 Advance from water utility fund 30,000 Net position 126,500 Totals $230,500 $230,500 Required: a. Open a general journal for the City of Monroe...
The following information is taken from the operating section of the statement of cash flows (direct...
The following information is taken from the operating section of the statement of cash flows (direct method) of Battery Builders, Inc.: Collections from customers Payments to suppliers for purchases Payments for operating expenses Payments for income taxes Cash provided by operating activities $28,000 (13,000) (9,000) (4,000) 2,000 The following information is obtained from the income statement of Battery Builders Net income Depreciation expense Gain on sale of equipment Write-off of intangibles $4,000 4,000 2,000 1,000 In addition, the following information...
Prepare a Statement of Cash Flows using the direct method. Use the following information: The following...
Prepare a Statement of Cash Flows using the direct method. Use
the following information:
The following information is available for 2017.
Equipment (cost $10,000 and accumulated depreciation $4,000)
was sold for $7,000. All other changes in Property, Plant and
Equipment accounts relate to purchases and depreciation expense,
respectively.
Intangible Assets costing $10,000 were purchased during
2017.
There were $25,000 in payments on the Bonds Payable during
2017
12/31/2016 Closing Trial Balance 55,000 70,000 (4,000) 80,000 9,000 - Cash Accounts Receivable...
Managerial Accounting. Please complete the Statement of Cash Flows The following information was collected from Sierra...
Managerial Accounting. Please complete the Statement of Cash
Flows
The following information was collected from Sierra Manufacturing's Income Statement and comparative Balance Sheet: Increase in cash $28,000 Decrease in accounts payable $25,000 Increase in account receivable $ 8,000 Increase in salaries payable $ 2,000 Decrease in inventory $16,000 Decrease in deferred income tax $ 4,000 Decrease in prepaid rent $ 3,000 Increase in notes payable $12,000 Increase in equipment $60,000 Decrease in common stock $25,000 Increase in accumulated depreciation $18,000...
The following information is taken from the operating section of the statement of cash flows (direct...
The following information is taken from the operating section of the statement of cash flows (direct method) of Battery Builders, Inc.: Collections from customers Payments to suppliers for purchases Payments for operating expenses Payments for income taxes Cash provided by operating activities $ 28,000 (13,000) (9,000) (4,000) 2,000 The following information is obtained from the income statement of Battery Builders: Net income Depreciation expense Gain on sale of equipment Write-off of intangibles $ 4,000 4,000 2,000 1,000 In addition, the...
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. $ 930,000 (125,000) (729,100) 260,500 26,000 (15,500) 346,900 CITY OF WRIGHTVILLE Risk...
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...
6-C. Part 1. Internal Service Fund Transactions The Stores and Service Fund of the City of Monroe had the following account balances as of January 1, 2017: Debits Credits Cash $28,000 Due from other funds 27,000 Inventory of supplies 27,500 Land 18,000 Buildings 84,000 Accumulated depreciation- buildings $30,000 Equipment 46,000 Accumulated depreciation- equipment 25,000 Accounts payable 19,000 Advance from water utility fund 30,000 Net position 126,500 Totals $230,500 $230,500 Required: a. Open a general journal for the City of Monroe...
The following information is taken from the operating section of the statement of cash flows (direct method) of Battery Builders, Inc.: Collections from customers Payments to suppliers for purchases Payments for operating expenses Payments for income taxes Cash provided by operating activities $28,000 (13,000) (9,000) (4,000) 2,000 The following information is obtained from the income statement of Battery Builders Net income Depreciation expense Gain on sale of equipment Write-off of intangibles $4,000 4,000 2,000 1,000 In addition, the following information...
Prepare a Statement of Cash Flows using the direct method. Use
the following information:
The following information is available for 2017.
Equipment (cost $10,000 and accumulated depreciation $4,000)
was sold for $7,000. All other changes in Property, Plant and
Equipment accounts relate to purchases and depreciation expense,
respectively.
Intangible Assets costing $10,000 were purchased during
2017.
There were $25,000 in payments on the Bonds Payable during
2017
12/31/2016 Closing Trial Balance 55,000 70,000 (4,000) 80,000 9,000 - Cash Accounts Receivable...
Managerial Accounting. Please complete the Statement of Cash
Flows
The following information was collected from Sierra Manufacturing's Income Statement and comparative Balance Sheet: Increase in cash $28,000 Decrease in accounts payable $25,000 Increase in account receivable $ 8,000 Increase in salaries payable $ 2,000 Decrease in inventory $16,000 Decrease in deferred income tax $ 4,000 Decrease in prepaid rent $ 3,000 Increase in notes payable $12,000 Increase in equipment $60,000 Decrease in common stock $25,000 Increase in accumulated depreciation $18,000...
The following information is taken from the operating section of the statement of cash flows (direct method) of Battery Builders, Inc.: Collections from customers Payments to suppliers for purchases Payments for operating expenses Payments for income taxes Cash provided by operating activities $ 28,000 (13,000) (9,000) (4,000) 2,000 The following information is obtained from the income statement of Battery Builders: Net income Depreciation expense Gain on sale of equipment Write-off of intangibles $ 4,000 4,000 2,000 1,000 In addition, the...
Most questions answered within 3 hours.
-
In a two-factor analysis of variance a main effect is defined as
____.
a. the unique...
asked 3 minutes ago -
A bank's loan officer rates applicants for credit. The ratings
are normally distributed with a mean...
asked 4 minutes ago -
Fill in the following information for Adipic Acid: molecular
weight, g or ml, mole, melting point,...
asked 9 minutes ago -
how
to use a for loop to iterate over the string below and print each
character...
asked 11 minutes ago -
Please type answer, Thanks.
Respond to the following in a minimum of 175
words:
Research industry...
asked 11 minutes ago -
Assume that all interest rates in the economy increase from 9
percent to 10 percent. Which...
asked 21 minutes ago -
Describe the function of a Change Control Board.
When calculating Planned Value (PV), what is the...
asked 26 minutes ago -
The customer help center in your company receives calls from
customers who need help with some...
asked 37 minutes ago -
A manufacturer wished to compare the wearing qualities of two
different types of automobile tires, A...
asked 36 minutes ago -
Write a MATLAB script file that will sum all the positive
entries in V and stop...
asked 44 minutes ago -
The objective of this assignment is to demonstrate an
understanding of key course concepts and reflect...
asked 46 minutes ago -
A plant's flower colour is determined by the pathway shown
below:
white1 ----Gene A----->
white2----Gene
B---->Blue...
asked 52 minutes ago