Homework Answers
| cash flow statement | |||
| Indirect method | |||
| Cash flow from operating activities | |||
| Net profit | 136000 | ||
| depreciation | 54000 | ||
| changes in working capital | |||
| increase in A/R | -12000 | ||
| increase in inventory | -75000 | ||
| increase in A/P | 16000 | ||
| increase in income tax payable | 3000 | ||
| Cash flow from operating activities | 122000 | ||
| cash flow from investing activities | |||
| purchase of equipment | -36000 | ||
| cash flow from investing activities | -36000 | ||
| cash flow from financing activities | |||
| issuance of common stock | 60000 | ||
| dividend paid | -89000 | ||
| cash flow from financing activities | -29000 | ||
| net cash flow during the year | 57000 | ||
| add beginning cash balance | 107000 | ||
| year end cash balance | 164000 |
Add Answer to:
of Action Adolfoonhor 2015 Then .. Purchased equipment for $36.000 cash led 12.000 shares of cock...
El Zahabi Corp merchandise rently completed its 2015 operations. For the year, (1) all sales are...
El Zahabi Corp merchandise rently completed its 2015 operations. For the year, (1) all sales are problem 16GA credit sales (2) all credits to Receive reflect cash recipes from somers, ) il purchases rece n t of cash flows of c redit (4) Ace Peyheelect case forwy. (5) Other P2 P3 Exploh pa y changes The Paye wes the world pyn ofans. The comp lance sheets and income a nd EH BAHCORPORATION og 14.00 EL TAMARIPOTION incare Additional information on...
need help making a statemtent of cash flows. Golden Corp., a merchandiser, recently completed its 2015...
need help making a statemtent of cash flows.
Golden Corp., a merchandiser, recently completed its 2015 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit. (4) all debits to Accounts Payable reflect cash payments for inventory (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The...
During the current year, Bradford Company purchased some of the 120,000 shares of common stock, par...
During the current year, Bradford Company purchased some of the 120,000 shares of common stock, par $6, of Hall, Inc., as a long- term investment. The annual accounting period for each company ends December 31. The following transactions occurred during the current year: Jan. 7 Purchased 48,000 shares of Hall stock at $36 per share. Dec. 31: a. Received the current year financial statements of Hall, which reported net income of $218,000. b. Hall declared and paid a cash dividend...
Stock was issued for cash-3,200 shares at par. Net income for the current year was $76,000....
Stock was issued for cash-3,200 shares at par. Net income for the current year was $76,000. Cash dividends declared and paid were $13,000. Current Year Prior Year Assets Cash $170,000 $74,000 Accounts Receivable (net) 78,000 85,000 Inventories 106,500 90,000 Equipment 370,000 395,000 Accumulated Depreciation (195,000) (158,000) $554,500 $461,000 Total assets Liabilities and stockholders' equity Accounts Payable (merchandise creditors) $51,000 $50,000 Taxes Payable 5,000 2,500 Common Stock, $10 par 262,000 230,000 Retained Earnings 239,000 176,000 554,500 $461,000 Total Liabilities Stockholders' Ec...
Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data: Net income Depreciation expense...
Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. $305,900 73,500 25,700 10,700 11,400 Staley Inc. Cash flows from operating activities: Adjustments to reconcile...
Rowdy's Restaurants Cash Flow (in millions): (questions 1-4) CASH RECEIVED FROM: Customers on Sales Interest on...
Rowdy's Restaurants Cash Flow (in millions): (questions 1-4) CASH RECEIVED FROM: Customers on Sales Interest on investments $1800 $200 Sale of land $100 $600 $2000 Sale of capital stock Insurance of debt securities (borrowings) CASH PAID FOR: Interest on debt Income tax expense Debt principal reduction (repayment of debt) Purchase of equipment Purchase of inventory Dividends on capital stock Operating expenses $300 $80 $1500 $4000 $1000 $200 $500 1. Rowdy's would report net cash inflows (outflows) from operating activities in...
CH 16. Statement of Cash Flow. Fill the blank 11. A corporation purchased and retired 5,000 shares of its $15 par commo...
CH 16. Statement of Cash Flow. Fill the blank
11. A corporation purchased and retired 5,000 shares of its $15 par common stock, originally issued at par, for $35. Cash flows amounted to 12. If a loss of $2,000 is incurred in selling (for cash) a fixed asset having a book value of $25,000, the total amount reported as a cash flow is 13. The $97,000 net income for the year included a charge of $8,000 for the amortization of...
Statement of Cash Flows-Direct Method The comparative balance sheet of Canace Products Inc. for December 31,...
Statement of Cash Flows-Direct Method The comparative balance sheet of Canace Products Inc. for December 31, 2016 and 2015, is as follows: Dec. 31, 20Y6 Dec. 31, 2015 Assets Cash Accounts receivable (net) $277,920 100,680 284,210 Inventories $258,230 92,750 274,600 106,380 Investments Land Equipment Accumulated depreciation equipment 145,780 313,580 (73,410) $1,048,760 242,780 (65,470) $909,270 Total assets $189,830 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable $179,130 18,880 Common stock, $10 par 10,490 56,630 212,900 560,030 23,640 8,180...
1. 2. • Analyze the transactions you have and indicate whether each transaction resulted in a...
1.
2.
• Analyze the transactions you have and indicate whether each transaction resulted in a cash flow from a) Operating activities b) Investing activities c) Financing activates d) Noncash investing and financing activities • Indicate whether the effect is a a) Cash Inflow b) Cash Outflow The HAHA & MAMA Corporation 1. Purchased an equipment for $11,000 and paid cash 2. Issued $50,000 par value common stock 3. Paid dividends of 12.000 during the year 4. Sold a long-term...
LAG Network Inc.'s balance sheet and income statement are as follows: LAG Network Inc. Income Statement...
LAG Network Inc.'s balance sheet and income statement are as follows: LAG Network Inc. Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold $927,600 555,200 $372,400 Gross profit Operating expenses: Depreciation expense Other expenses $ 25,200 229,800 Total operating expenses 255,000 Profit from operations Income taxes $117,400 17,600 Profit $ 99,800 LAG Network Inc. Comparative Balance Sheet Information December 31 Assets 2017 2016 Cash $ 81,180 $ 54,200 Accounts receivable 41,400 37,400 Merchandise inventory 287,220 246,400...
El Zahabi Corp merchandise rently completed its 2015 operations. For the year, (1) all sales are problem 16GA credit sales (2) all credits to Receive reflect cash recipes from somers, ) il purchases rece n t of cash flows of c redit (4) Ace Peyheelect case forwy. (5) Other P2 P3 Exploh pa y changes The Paye wes the world pyn ofans. The comp lance sheets and income a nd EH BAHCORPORATION og 14.00 EL TAMARIPOTION incare Additional information on...
need help making a statemtent of cash flows.
Golden Corp., a merchandiser, recently completed its 2015 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit. (4) all debits to Accounts Payable reflect cash payments for inventory (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The...
During the current year, Bradford Company purchased some of the 120,000 shares of common stock, par $6, of Hall, Inc., as a long- term investment. The annual accounting period for each company ends December 31. The following transactions occurred during the current year: Jan. 7 Purchased 48,000 shares of Hall stock at $36 per share. Dec. 31: a. Received the current year financial statements of Hall, which reported net income of $218,000. b. Hall declared and paid a cash dividend...
Stock was issued for cash-3,200 shares at par. Net income for the current year was $76,000. Cash dividends declared and paid were $13,000. Current Year Prior Year Assets Cash $170,000 $74,000 Accounts Receivable (net) 78,000 85,000 Inventories 106,500 90,000 Equipment 370,000 395,000 Accumulated Depreciation (195,000) (158,000) $554,500 $461,000 Total assets Liabilities and stockholders' equity Accounts Payable (merchandise creditors) $51,000 $50,000 Taxes Payable 5,000 2,500 Common Stock, $10 par 262,000 230,000 Retained Earnings 239,000 176,000 554,500 $461,000 Total Liabilities Stockholders' Ec...
Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. $305,900 73,500 25,700 10,700 11,400 Staley Inc. Cash flows from operating activities: Adjustments to reconcile...
Rowdy's Restaurants Cash Flow (in millions): (questions 1-4) CASH RECEIVED FROM: Customers on Sales Interest on investments $1800 $200 Sale of land $100 $600 $2000 Sale of capital stock Insurance of debt securities (borrowings) CASH PAID FOR: Interest on debt Income tax expense Debt principal reduction (repayment of debt) Purchase of equipment Purchase of inventory Dividends on capital stock Operating expenses $300 $80 $1500 $4000 $1000 $200 $500 1. Rowdy's would report net cash inflows (outflows) from operating activities in...
CH 16. Statement of Cash Flow. Fill the blank
11. A corporation purchased and retired 5,000 shares of its $15 par common stock, originally issued at par, for $35. Cash flows amounted to 12. If a loss of $2,000 is incurred in selling (for cash) a fixed asset having a book value of $25,000, the total amount reported as a cash flow is 13. The $97,000 net income for the year included a charge of $8,000 for the amortization of...
Statement of Cash Flows-Direct Method The comparative balance sheet of Canace Products Inc. for December 31, 2016 and 2015, is as follows: Dec. 31, 20Y6 Dec. 31, 2015 Assets Cash Accounts receivable (net) $277,920 100,680 284,210 Inventories $258,230 92,750 274,600 106,380 Investments Land Equipment Accumulated depreciation equipment 145,780 313,580 (73,410) $1,048,760 242,780 (65,470) $909,270 Total assets $189,830 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable $179,130 18,880 Common stock, $10 par 10,490 56,630 212,900 560,030 23,640 8,180...
1.
2.
• Analyze the transactions you have and indicate whether each transaction resulted in a cash flow from a) Operating activities b) Investing activities c) Financing activates d) Noncash investing and financing activities • Indicate whether the effect is a a) Cash Inflow b) Cash Outflow The HAHA & MAMA Corporation 1. Purchased an equipment for $11,000 and paid cash 2. Issued $50,000 par value common stock 3. Paid dividends of 12.000 during the year 4. Sold a long-term...
LAG Network Inc.'s balance sheet and income statement are as follows: LAG Network Inc. Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold $927,600 555,200 $372,400 Gross profit Operating expenses: Depreciation expense Other expenses $ 25,200 229,800 Total operating expenses 255,000 Profit from operations Income taxes $117,400 17,600 Profit $ 99,800 LAG Network Inc. Comparative Balance Sheet Information December 31 Assets 2017 2016 Cash $ 81,180 $ 54,200 Accounts receivable 41,400 37,400 Merchandise inventory 287,220 246,400...
Most questions answered within 3 hours.
-
convert grams into vloume with the density of water being at
.997514 g/cm^3 at 23.1 Celsuis...
asked 55 minutes ago -
Foreman company obtained a $20,000, 6% loan on May 1, 2018.
Principal and interest will be...
asked 59 minutes ago -
5. Problem 11.05 (Discounted Payback)
eBook
Project L costs $60,000, its expected cash inflows are $14,000
per...
asked 1 hour ago -
1. Which of the following is true about politics and health
organizations?
A. Health organizations are...
asked 1 hour ago -
A space vehicle is coasting at a constant velocity of 18.1 m/s
in the +y direction...
asked 2 hours ago -
5) Use the following balanced equation to answer questions
(a)-(i).
3 Cu(s) + 8 HNO3(aq) →...
asked 2 hours ago -
A three-year maturity bond with a 12% annual coupon rate is
currently traded at par $1000...
asked 2 hours ago -
1.
What is the minimum volume to use in the Spec 20 cuvette in order
to...
asked 3 hours ago -
A builder wants to install wall-to-wall carpeting in a living
room of length 8.87 m and...
asked 3 hours ago -
Organizational change can produce anxiety in those affected by
the change. In what ways can change...
asked 3 hours ago -
Ozone in the atmosphere may react with nitric oxide.
From the following data, calculate the DG...
asked 3 hours ago -
Steven Long, a bond analyst, is analyzing a convertible bond.
The characteristics of the bond are...
asked 3 hours ago