Homework Answers
A is true
Stocking inventory with seasonal demand will block liquid assets.This inventory will not be fast moving and hence money will remain blocked in the inventory till seasonal demand revives. Other options are ways of attaining greater liquidity.
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U. UZU 6. Better liquidity may be achieved by the following except (1 mark) a. stocking...
P12-2 Preparing a Statement of Cash Flows (Indirect Method) LO12-1, 12-2, 12-4, 12-6 BG Wholesalers is...
P12-2 Preparing a Statement of Cash Flows (Indirect Method) LO12-1, 12-2, 12-4, 12-6 BG Wholesalers is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Prior Year Current Year Balance sheet at December 31 $ 39,400 31,600 31,600 40,500 Cash 36,300 Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreeiation 45,000 125,600 (34,000) $212,300 102,700 (27,100) $179,300...
The following information is available for Splish Brothers Inc.: Cash receipts from operating activities Cash payments...
The following information is available for Splish Brothers Inc.: Cash receipts from operating activities Cash payments from operating activities Net cash used by investing Net cash provided by financing Net increase in cash and equivalents Cash and equivalents at start of year Cash and equivalents at year-end (in million) $940 $290 $250 $900 $660 What is the net increase in cash and equivalents? O $640 $1800 $1300 $2460 Use the following data to determine the total dollar amount of assets...
17. Which of the following below should be added to net income in calculating net cash...
17. Which of the following below should be added to net income in calculating net cash flow from operating activities using the indirect method A. Gain on the sale of land. B. An increase in salaries payable. C. A decrease in accounts payable. D. An increase in accounts receivable. 18. Under the indirect method, expenses that do not affect cash are added to net income in the operating activities section of the statement of cash flows. A. True B. False...
17. Which of the following below should be added to set income in calculating net cash...
17. Which of the following below should be added to set income in calculating net cash flow from operating activities using the indirect method. A. Gain on the sale of land. B. An increase in salaries payable. C. A decrease in accounts payable. D. An increase in accounts receivable. 18. Under the indirect method, expenses that do not affect cash are added to net income in the operating activities section of the statement of cash flows. A. True. B. False....
U V W Cumparative balance sheet.) Read the requirements 0 Requirements i More info 1. Prepare...
U V W Cumparative balance sheet.) Read the requirements 0 Requirements i More info 1. Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method 2. How will what you leared in this problem help you evaluate an investment? Additionally, Get Wired purchased land of $22,900 by financing it 100% with long-term notes payable during 2018. During the year, there were no sales of land no retirements of stock, and no treasury stock transactions. A plant...
Which of the following would improve Liquidity: ( a ) Factoring a business’s Accounts Receivable (...
Which of the following would improve Liquidity: ( a ) Factoring a business’s Accounts Receivable ( b ) Using surplus cash to buy Land and Buildings ( c ) Paying all Accounts Payable sooner ( d ) Increasing employees wages ( e ) All of the above 2 If the Net Profit Ratio decreases, which of the following will NOT improve the ratio: ( a ) Increasing the sales price ( b ) Finding a cheaper supplier of your product...
1. All of the following are reported as current liabilities except a. accounts payable. b. bonds...
1. All of the following are reported as current liabilities except a. accounts payable. b. bonds payable. c. notes payable. d. unearned revenues. 2. The relationship between current liabilities and current assets is a. useful in determining income. b. useful in evaluating a company's liquidity. c. called the matching principle. d. useful in determining the amount of a company's long-term debt. 3. Most companies pay current liabilities a. out of current assets. b. by issuing interest-bearing notes payable. c. by...
The following is additional information concerning Sheffield's transactions during the year ended May 31, 2020. 1....
The following is additional information concerning Sheffield's transactions during the year ended May 31, 2020. 1. All sales during the year were made on account. 2. All merchandise was purchased on account, comprising the total accounts payable account. 3. Plant assets costing $92,300 were purchased by paying $23,300 in cash and issuing 6,900 shares of stock. 4. The other expenses" are related to prepaid items. 5. All income taxes incurred during the year were paid during the year. 6. In...
CASH FLOW OUTLINE Question 1 The following information was extracted from the books of Sweet River...
CASH FLOW OUTLINE
Question 1 The following information was extracted from the books of Sweet River Ltd as at September 30, 2013 2013 2012 $ $ ASSETS Cash 318,000 30,000 320,000 16,000 280,000 382,000 24,000 340,000 12,000 280,000 320,000 (32.000 964,000 Accounts Receivable Inventory Prepaid Expenses Land Equipment Accumulated Depreciation 0 1326,000 LIABILITIES AND EQUITY Accounts Payable Accrued Expenses Income Tax Payable Long Term Loan Ordinary Share Capital Retained Earnings 120,000 40,000 104,000 30,000 24,000 260,000 720,000 188,000 964,000 0...
Case 5.2 Avnet (AVT/NYSE) Summary of Financial Statement Ratios Show Formulas Avnet, a leading distributor of...
Case 5.2 Avnet (AVT/NYSE) Summary of Financial Statement Ratios Show Formulas Avnet, a leading distributor of electronic components, enterprise computer and storage products and embedded subsystems, appears to be on the road to recovery in 2010, after a volatile three year period. The recent downturn in the economy presented challenges for many firms, including Avnet, with 2009 being a particularly difficult year. A discussion of the financial well- bcing of Avnct follows, as well as recommendations for investors and creditors....
P12-2 Preparing a Statement of Cash Flows (Indirect Method) LO12-1, 12-2, 12-4, 12-6 BG Wholesalers is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Prior Year Current Year Balance sheet at December 31 $ 39,400 31,600 31,600 40,500 Cash 36,300 Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreeiation 45,000 125,600 (34,000) $212,300 102,700 (27,100) $179,300...
The following information is available for Splish Brothers Inc.: Cash receipts from operating activities Cash payments from operating activities Net cash used by investing Net cash provided by financing Net increase in cash and equivalents Cash and equivalents at start of year Cash and equivalents at year-end (in million) $940 $290 $250 $900 $660 What is the net increase in cash and equivalents? O $640 $1800 $1300 $2460 Use the following data to determine the total dollar amount of assets...
17. Which of the following below should be added to net income in calculating net cash flow from operating activities using the indirect method A. Gain on the sale of land. B. An increase in salaries payable. C. A decrease in accounts payable. D. An increase in accounts receivable. 18. Under the indirect method, expenses that do not affect cash are added to net income in the operating activities section of the statement of cash flows. A. True B. False...
17. Which of the following below should be added to set income in calculating net cash flow from operating activities using the indirect method. A. Gain on the sale of land. B. An increase in salaries payable. C. A decrease in accounts payable. D. An increase in accounts receivable. 18. Under the indirect method, expenses that do not affect cash are added to net income in the operating activities section of the statement of cash flows. A. True. B. False....
U V W Cumparative balance sheet.) Read the requirements 0 Requirements i More info 1. Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method 2. How will what you leared in this problem help you evaluate an investment? Additionally, Get Wired purchased land of $22,900 by financing it 100% with long-term notes payable during 2018. During the year, there were no sales of land no retirements of stock, and no treasury stock transactions. A plant...
The following is additional information concerning Sheffield's transactions during the year ended May 31, 2020. 1. All sales during the year were made on account. 2. All merchandise was purchased on account, comprising the total accounts payable account. 3. Plant assets costing $92,300 were purchased by paying $23,300 in cash and issuing 6,900 shares of stock. 4. The other expenses" are related to prepaid items. 5. All income taxes incurred during the year were paid during the year. 6. In...
CASH FLOW OUTLINE
Question 1 The following information was extracted from the books of Sweet River Ltd as at September 30, 2013 2013 2012 $ $ ASSETS Cash 318,000 30,000 320,000 16,000 280,000 382,000 24,000 340,000 12,000 280,000 320,000 (32.000 964,000 Accounts Receivable Inventory Prepaid Expenses Land Equipment Accumulated Depreciation 0 1326,000 LIABILITIES AND EQUITY Accounts Payable Accrued Expenses Income Tax Payable Long Term Loan Ordinary Share Capital Retained Earnings 120,000 40,000 104,000 30,000 24,000 260,000 720,000 188,000 964,000 0...
Case 5.2 Avnet (AVT/NYSE) Summary of Financial Statement Ratios Show Formulas Avnet, a leading distributor of electronic components, enterprise computer and storage products and embedded subsystems, appears to be on the road to recovery in 2010, after a volatile three year period. The recent downturn in the economy presented challenges for many firms, including Avnet, with 2009 being a particularly difficult year. A discussion of the financial well- bcing of Avnct follows, as well as recommendations for investors and creditors....
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