Homework Answers
Statement of cash flow is statement which is prepared for the period which shows flow of cash(cash receipts and cash disbursement).There are three activities
- Operating activities
- Investing activities
- Financing activities
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CALCULATOR FULL SCREEN PRINTER VERSION Exercise 12-5 The following information is available for Coronado Industries for...
Exercise 12-5 The following information is available for Coronado Industries for the year ended December 31,...
Exercise 12-5 The following information is available for Coronado Industries for the year ended December 31, 2017, Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income $46,575 3,830 167,670 8,487 11,385 294,044 36,225 12,420 4,865 299,115 26,910 207,000 Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds Prepare a statement of...
The following information is available for Coronado Industries for the year ended December 31, 2022. Beginning...
The following information is available for Coronado Industries for the year ended December 31, 2022. Beginning cash balance $ 18,000 Accounts payable increase 4,275 Depreciation expense 30,750 Accounts receivable decrease 3,600 Inventory decrease 2,325 Net income 42,900 Cash received for sale of land at book value 78,000 Cash dividends paid 28,500 Income taxes payable decrease 2,925 Cash used to purchase land 60,750 Cash used to redeem bonds 49,500 Cash received from issuing stock 120,000 Prepare a statement of cash flows...
Any help would be very much appreciated! Exercise 12-5 The following information is available for Sweet...
Any help would be very much appreciated!
Exercise 12-5 The following information is available for Sweet Acacia Industries for the year ended December 31, 2017 Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds 48,510 3,989 174,636 8,840 11,858 306,260 37,730 12,936...
ment CALCULATOR FULL SCREEN PRINTER VERSION « BACK NEXT Brief Exercise 17-04 Telfer, Inc. reported net...
ment CALCULATOR FULL SCREEN PRINTER VERSION « BACK NEXT Brief Exercise 17-04 Telfer, Inc. reported net income of $2.2 million in 2020. Depreciation for the year was $156,500, accounts receivable decreased $331,200, and accounts payable decreased $253,000 Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a sign .g. - 15,000 or in parenthesis e.g. (15,000).) Telfer, Inc. Statement of Cash Flows Indirect Approach Adjustments to reconcile net income to
ent CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Exercise 17-04 Gutierrez Company reported net income of...
ent CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Exercise 17-04 Gutierrez Company reported net income of $193,400 for 2020. Gutierrez also reported depreciation expense of $45,600 and a loss of $6,000 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $11,000 for the year, a $13,000 increase in accounts payable, and a $5,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the...
explain the answer CALCULATOR FULL SOREN PRINTER VERSION Brief Exercise 23-5 Sarasota Corporation had the following...
explain the answer
CALCULATOR FULL SOREN PRINTER VERSION Brief Exercise 23-5 Sarasota Corporation had the following 2017 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $22,000) Net income $182,000 132,000 50,000 48,000 $2.000 The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $12,000, Accounts Payable $15,000. Prepare the cash flows from operating activities section of Sarasota's 2017 statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with...
Exercise 12-5 Your answer is partially correct. Try again. The following information is available for Bridgeport...
Exercise 12-5 Your answer is partially correct. Try again. The following information is available for Bridgeport Corp. for the year ended December 31, 2017. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 48,690 4,003 175,284 8,872 11,902 307,396 37,870 12,984...
Coronado Industries reported the following information for 2022. Coronado Industries Comparative Balance Sheets December 31 Assets...
Coronado Industries reported the following information for 2022. Coronado Industries Comparative Balance Sheets December 31 Assets 2022 2021 Change Increase/Decrease Cash $82,600 $50,400 $32,200 Increase Accounts receivable 86,800 30,800 56,000 Increase Inventory 61,600 –0– 61,600 Increase Prepaid expenses 8,400 5,600 2,800 Increase Land 77,000 98,000 21,000 Decrease Buildings 280,000 280,000 –0– Accumulated depreciation—buildings (29,400 ) (19,600 ) 9,800 Increase Equipment 256,200 95,200 161,000 Increase Accumulated depreciation—equipment (39,200 ) (14,000 ) 25,200 Increase Totals $784,000 $526,400 Liabilities and Stockholders’ Equity Accounts...
Presented below are the financial statements of Coronado Industries. Coronado Industries Comparative Balance Sheets December 31...
Presented below are the financial statements of Coronado Industries. Coronado Industries Comparative Balance Sheets December 31 Assets 2022 $ 49,000 2021 $28,000 Cash Accounts receivable Inventory Property, plant, and equipment 28,000 39,200 84,000 (44,800) $155,400 19,600 28,000 109,200 (33,600) $151,200 Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable $ 26,600 9,800 23,800 25,200 Bonds payable $ 21,000 11,200 46,200 19,600 53,200 $151,200 Common stock Retained earnings 70,000 Total $155,400 Coronado Industries Income Statement For the Year...
The following information is available for Sweet Acacia Industries for the year ended December 31, 2022....
The following information is available for Sweet Acacia Industries for the year ended December 31, 2022. Beginning cash balance Accounts payable increase Depreciation expense Accounts receivable decrease Inventory decrease Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable decrease Cash used to purchase land Cash used to redeem bonds Cash received from issuing stock $38,400 9.120 65,600 7.680 4.960 91,520 166,400 60,800 6,240 129,600 105,600 256,000 Prepare a statement of cash flows...
Exercise 12-5 The following information is available for Coronado Industries for the year ended December 31, 2017, Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income $46,575 3,830 167,670 8,487 11,385 294,044 36,225 12,420 4,865 299,115 26,910 207,000 Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds Prepare a statement of...
Any help would be very much appreciated!
Exercise 12-5 The following information is available for Sweet Acacia Industries for the year ended December 31, 2017 Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds 48,510 3,989 174,636 8,840 11,858 306,260 37,730 12,936...
ment CALCULATOR FULL SCREEN PRINTER VERSION « BACK NEXT Brief Exercise 17-04 Telfer, Inc. reported net income of $2.2 million in 2020. Depreciation for the year was $156,500, accounts receivable decreased $331,200, and accounts payable decreased $253,000 Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a sign .g. - 15,000 or in parenthesis e.g. (15,000).) Telfer, Inc. Statement of Cash Flows Indirect Approach Adjustments to reconcile net income to
ent CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Exercise 17-04 Gutierrez Company reported net income of $193,400 for 2020. Gutierrez also reported depreciation expense of $45,600 and a loss of $6,000 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $11,000 for the year, a $13,000 increase in accounts payable, and a $5,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the...
explain the answer
CALCULATOR FULL SOREN PRINTER VERSION Brief Exercise 23-5 Sarasota Corporation had the following 2017 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $22,000) Net income $182,000 132,000 50,000 48,000 $2.000 The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $12,000, Accounts Payable $15,000. Prepare the cash flows from operating activities section of Sarasota's 2017 statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with...
Exercise 12-5 Your answer is partially correct. Try again. The following information is available for Bridgeport Corp. for the year ended December 31, 2017. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 48,690 4,003 175,284 8,872 11,902 307,396 37,870 12,984...
Presented below are the financial statements of Coronado Industries. Coronado Industries Comparative Balance Sheets December 31 Assets 2022 $ 49,000 2021 $28,000 Cash Accounts receivable Inventory Property, plant, and equipment 28,000 39,200 84,000 (44,800) $155,400 19,600 28,000 109,200 (33,600) $151,200 Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable $ 26,600 9,800 23,800 25,200 Bonds payable $ 21,000 11,200 46,200 19,600 53,200 $151,200 Common stock Retained earnings 70,000 Total $155,400 Coronado Industries Income Statement For the Year...
The following information is available for Sweet Acacia Industries for the year ended December 31, 2022. Beginning cash balance Accounts payable increase Depreciation expense Accounts receivable decrease Inventory decrease Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable decrease Cash used to purchase land Cash used to redeem bonds Cash received from issuing stock $38,400 9.120 65,600 7.680 4.960 91,520 166,400 60,800 6,240 129,600 105,600 256,000 Prepare a statement of cash flows...
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