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ilment of Cash Flows-Indirect Method (17 Points) The balance sheets for Toys for Tots Inc. showed...
The statements of financial position for Mero Company showed the following information. Additional information concerning transactions...
The statements of financial position for Mero Company showed the following information. Additional information concerning transactions and events during 2016 are presented below. Mero Company Statements of Financial Position December 31 2016 2015 Property, plant & equipment $236,500 $150,000 Accumulated depreciation (37,700) (25,000) Land 0 15,000 Inventory 35,000 42,000 Accounts receivable (net) 43,300 20,300 Cash 30,900 10,200 Total $308.000 $212,500 Share capital-ordinary $135,000 $ 90,000 Retained earnings 70,000 29,000 Long-term notes payable 70,000 50,000 Accounts payable 21,000 17,000 Salaries payable...
Odessa Company uses the indirect method to prepare its statement of cash flows Please refer to...
Odessa Company uses the indirect method to prepare its statement of cash flows Please refer to the following information extracted from the comparative balance sheet for the company 2018 2017 Increasel(decrease) Accounts payable $35,000 $52,000 ($17,000) Accrued liabilities 18,000 10,000 $8,000 Long-term notes payable 168,000 180,000 ($12,000) Total liabilities $221,000 $242,000 ($21,000) Common stock Retained earnings Treasury stock Total equity 100.000 61,000 226,000 148,000 (18,500) (12,400) $307,500 $196,600 $39,000 $78,000 ($6,100) $110,900 $89,900 Total liabilities and equity $528,500 $438,600 Additional...
Odessa Company uses the indirect method to prepare its statement of cash flows. Please refer to...
Odessa Company uses the indirect method to prepare its statement of cash flows. Please refer to the following information extracted from the comparative balance sheet for the company. 2018 2017 Increase/(decrease) Accounts payable $35,000 $52,000 ($17,000) Accrued liabilities 18,000 10,000 $8,000 Long-term notes payable 168,000 180,000 ($12,000) Total liabilities $221,000 $242,000 ($21,000) Common stock 100,000 61,000 $39,000 Retained earnings 226,000 148,000 $78,000 Treasury stock (18,500) (12,400) ($6,100) Total equity $307,500 $196,600 $110,900 Total liabilities and equity $528,500 $438,600...
Prepare the statement of cash flows using the indirect method CANYON CANOE COMPANY Comparative Balance Sheet...
Prepare the statement of cash flows using the indirect method
CANYON CANOE COMPANY Comparative Balance Sheet December 31, 2018 and 2019 2019 2018 Assets Current Assets: Cash Short-term Investments, net Accounts Receivable, net S 523,693 12,125 23,840 2,422 355 60 7,600 Office Supplies Prepaid Rent 165 2,000 Property, Plant, and Equipment: 155,000 610,000 12,000 150,000 (35,180) 85,000 35,000 12,000 Office Furniture and Equipment Accumulated Depreciation-PP&E (850) Total Assets 1,442,190 153,040 Liabilities Current Liabilities: Accounts Payable Utilities Payable Telephone Payable Wages...
III. Statement of Cash Flows: Comparative balance sheets of Shawnee Inc. as of December 31, 20x8...
III. Statement of Cash Flows: Comparative balance sheets of Shawnee Inc. as of December 31, 20x8 and 20x7 and information relating to activities for the year 20x8 are presented below: 12/31/x7 Cash Accounts Receivable Merchandise Inventory Long-term Investments Property & Equipment (Cost) Accumulated Depreciation Intangible Assets 12/31/x8 $71,200 69,500 29,000 22,300 99,500 (19,000) 7,500 280,000 $33,700 60,000 24,000 37,500 75,000 (11,500) 8,000 226,700 Accounts Payable Long-Term Note Payable Common Stock Additional Paid-in Capital Retained Earnings 33,500 26,000 35,000 117,000 68,500...
The Balance Sheets for Bad News show the following information. Additional information concerning transactions and events...
The Balance Sheets for Bad News show the following information. Additional information concerning transactions and events during 2019 are presented below. Dwyer Company Balance Sheet December 31 2019 2018 Difference $25,700 $35,900 48,300 $10,200 Cash 20,300 28,000 Accounts receivable (net) <7,000> 42,000 35,000 Inventory Long-term investments Property, plant & equi Accumulated depreciation 15,000 <15,000> 0 150,000 86,500 236,500 (PP&E) <25.000 $212,500 <37,700> 12,700 $318,000 <7,500> 2,000 Accounts payable Accrued liabilities (e.g. salaries payable) Long-term notes payable $26,500 17,000 50,000 90,000...
Statement of Cash Flows (Indirect Method) The Sky Company's income statement and comparative balance sheets as...
Statement of Cash Flows (Indirect Method) The Sky Company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 follow: SKY COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue $800,000 Dividend Income 19,000 819,000 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 30,000 Loss on Sale of Equipment 5,000 Gain on Sale of Investments (10,000) 654,000...
Prepare a statement of cash flows using indirect method A comparative balance sheet for Josten Corporation...
Prepare a statement of cash flows using indirect method
A comparative balance sheet for Josten Corporation is presented below Josten Corporation Comparative Balance Sheets 2017 $33,000 14,000 25,000 78,000 24,000) 126,000 018 sets ash ccounts receivables $24,000 25,000 41,000 69,000 (26,000) 133,000 Inventory Property, Plant, & Equipment ccum. Depreciation Total Assets Liabilities and Stockholders' Equit 43,000 20,000 10,000 ccounts payable Income Taxes payable Bonds payable Common stock Retained earnings $30,000 25,000 20,000 25,000 33,000 133,000 25,000 28,000 Total Liab. And...
Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease...
Prepare the statement of cash flows using the indirect method.
(List cash outflows and any decrease in cash as negative
amounts.)
The balance sheet for Plasma Screens Corporation, along with
additional information, are provided below:
Additional Information for 2018:
1. Net income is $65,000.
2. The company purchases $106,000 in equipment.
3. Depreciation expense is $158,000.
4. The company repays $112,500 in notes payable.
5 .The company declares and pays a cash dividend of $23,000.
Prepare the statement of cash...
STATEMENT OF CASH FLOWS (YOU MAY USE EITHER THE DIRECT OR THE INDIRECT METHOD – YOU...
STATEMENT OF CASH FLOWS (YOU MAY USE EITHER THE DIRECT OR THE INDIRECT METHOD – YOU MUST INDICATE AT THE TOP OF YOUR SOLUTION WHICH METHOD YOU ARE USING) Eyjafjallajökull Company Comparative Balance Sheet December 31 2017 2016 Assets Cash $ 70,000 $ 35,000 Accounts receivable 82,000 53,000 Inventories 120,000 132,000 Prepaid expenses 19,000 25,000 Investments 80,000 65,000 Plant assets 310,000 250,000 Accumulated depreciation (65,000) (60,000) Total $616,000 $500,000 Liabilities and Stockholders' Equity...
The statements of financial position for Mero Company showed the following information. Additional information concerning transactions and events during 2016 are presented below. Mero Company Statements of Financial Position December 31 2016 2015 Property, plant & equipment $236,500 $150,000 Accumulated depreciation (37,700) (25,000) Land 0 15,000 Inventory 35,000 42,000 Accounts receivable (net) 43,300 20,300 Cash 30,900 10,200 Total $308.000 $212,500 Share capital-ordinary $135,000 $ 90,000 Retained earnings 70,000 29,000 Long-term notes payable 70,000 50,000 Accounts payable 21,000 17,000 Salaries payable...
Odessa Company uses the indirect method to prepare its statement of cash flows Please refer to the following information extracted from the comparative balance sheet for the company 2018 2017 Increasel(decrease) Accounts payable $35,000 $52,000 ($17,000) Accrued liabilities 18,000 10,000 $8,000 Long-term notes payable 168,000 180,000 ($12,000) Total liabilities $221,000 $242,000 ($21,000) Common stock Retained earnings Treasury stock Total equity 100.000 61,000 226,000 148,000 (18,500) (12,400) $307,500 $196,600 $39,000 $78,000 ($6,100) $110,900 $89,900 Total liabilities and equity $528,500 $438,600 Additional...
Prepare the statement of cash flows using the indirect method
CANYON CANOE COMPANY Comparative Balance Sheet December 31, 2018 and 2019 2019 2018 Assets Current Assets: Cash Short-term Investments, net Accounts Receivable, net S 523,693 12,125 23,840 2,422 355 60 7,600 Office Supplies Prepaid Rent 165 2,000 Property, Plant, and Equipment: 155,000 610,000 12,000 150,000 (35,180) 85,000 35,000 12,000 Office Furniture and Equipment Accumulated Depreciation-PP&E (850) Total Assets 1,442,190 153,040 Liabilities Current Liabilities: Accounts Payable Utilities Payable Telephone Payable Wages...
III. Statement of Cash Flows: Comparative balance sheets of Shawnee Inc. as of December 31, 20x8 and 20x7 and information relating to activities for the year 20x8 are presented below: 12/31/x7 Cash Accounts Receivable Merchandise Inventory Long-term Investments Property & Equipment (Cost) Accumulated Depreciation Intangible Assets 12/31/x8 $71,200 69,500 29,000 22,300 99,500 (19,000) 7,500 280,000 $33,700 60,000 24,000 37,500 75,000 (11,500) 8,000 226,700 Accounts Payable Long-Term Note Payable Common Stock Additional Paid-in Capital Retained Earnings 33,500 26,000 35,000 117,000 68,500...
The Balance Sheets for Bad News show the following information. Additional information concerning transactions and events during 2019 are presented below. Dwyer Company Balance Sheet December 31 2019 2018 Difference $25,700 $35,900 48,300 $10,200 Cash 20,300 28,000 Accounts receivable (net) <7,000> 42,000 35,000 Inventory Long-term investments Property, plant & equi Accumulated depreciation 15,000 <15,000> 0 150,000 86,500 236,500 (PP&E) <25.000 $212,500 <37,700> 12,700 $318,000 <7,500> 2,000 Accounts payable Accrued liabilities (e.g. salaries payable) Long-term notes payable $26,500 17,000 50,000 90,000...
Statement of Cash Flows (Indirect Method) The Sky Company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 follow: SKY COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue $800,000 Dividend Income 19,000 819,000 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 30,000 Loss on Sale of Equipment 5,000 Gain on Sale of Investments (10,000) 654,000...
Prepare a statement of cash flows using indirect method
A comparative balance sheet for Josten Corporation is presented below Josten Corporation Comparative Balance Sheets 2017 $33,000 14,000 25,000 78,000 24,000) 126,000 018 sets ash ccounts receivables $24,000 25,000 41,000 69,000 (26,000) 133,000 Inventory Property, Plant, & Equipment ccum. Depreciation Total Assets Liabilities and Stockholders' Equit 43,000 20,000 10,000 ccounts payable Income Taxes payable Bonds payable Common stock Retained earnings $30,000 25,000 20,000 25,000 33,000 133,000 25,000 28,000 Total Liab. And...
Prepare the statement of cash flows using the indirect method.
(List cash outflows and any decrease in cash as negative
amounts.)
The balance sheet for Plasma Screens Corporation, along with
additional information, are provided below:
Additional Information for 2018:
1. Net income is $65,000.
2. The company purchases $106,000 in equipment.
3. Depreciation expense is $158,000.
4. The company repays $112,500 in notes payable.
5 .The company declares and pays a cash dividend of $23,000.
Prepare the statement of cash...
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