Answers? 15 Points (2 pages) PROBLEM Based upon the comparative she prepare its Statement of and...
Prepare a statement of cash flows using the direct method. FILMORE COMPANY Comparative Balance Sheets December 31 2013 2014 25,000 41,000 Assets 33,000 14,000 25,000 Cash Accounts receivable Inventory Property, plant, and equipment 73,000 Less: Accumulated depreciation 27,000) Total 23,000 45.000$126,000 78,000 46.000 (24,000) 54,000 135,000 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $23,000 26,000 20,000 25,000 41,000 $135,000 $ 46,000 23,000 10,000 25,000 22,000 $126,000 FILMORE COMPANY Income Statement For...
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...
2. (25 Points) Comparative balance sheet statements of Irving Inc. are presented below Irving Inc COMPARATIVE BALANCE SHEET ACCOUNTS December 31, 2017 and 2016 December 31 2016 S 20.000 48,000 (1,000) 50,000 2,000 10,000 40,000 250,000 (50,000) S369.000 2017 $ 25,000 45,500 (1,500) 55,000 3,000 13.000 70,000 231,000 (35,000) S406.000 Assets Cash Accounts Receivable Less: Allowance for Doubtful Accounts Iaventory Dividend Receivable Iavestments Land Buildings & Equip. Less Accumulatod depreciation Totals Liabilities Accounts Payable Salaries Payables Interest payable Income tax...
Comparative balance sheet statements of Irving Inc. are presented below: Irving Inc. COMPARATIVE BALANCE SHEET ACCOUNTS December 31, 2017 and 2016 December 31 Assets 2017 2016 Cash 25,000 20,000 Accounts receivable 45,500 48,000 Less: allowance for doubtful accounts (1,500) (1,000) Inventory 55,000 50,000 Dividend receivable 3,000 2,000 Investments 13,000 10,000 Land 70,000 40,000 Buildings & equipment 231,000 250,000 Less: accumulated depreciation (35,000) (50,000) Totals 406,000 369,000 Liabilities Accounts payable 13,000 20,000 Salaries payable 2,000 5,000 Interest payable 4,000 2,000 Income...
How do I calculate the Operating Expenses on Cash Flow Statement? METRO MEATS LTD P&L statement for 2015 METRO MEATS LTD Statement of Financial Position as at 31 December Sales revenue 250,000 Cost of sales 2015 2014 Assets 210,000 Cash Accounts receivable Gross profit 29,000 $ 15,000 40,000 28,000 14,000 Less: Inventories Selling expenses 18,000 25,000 35,000 Property, plant & equipment Accumulated depreciation Administrative expenses 6,000 60,000 78,000 (20,000) 122,000 $ (24,000) 2,000 Interest Total Income taxes 4,000 118,000 30,000...
How do I calculate the Cash Flows from Investing activities? METRO MEATS LTD Statement of Financial Position as at 31 December Assets 2015 Cash $ 29,000 $ Accounts receivable 28,000 nventories 25,000 Property, plant & equipment 60,000 Accumulated depreciation (20,000) Total $ 122,000 $ Liabilities and equity Accounts payable $ 26,000 $ Dividends payable 3,000 ncome tax payable 5,000 Debentures payable 27,000 Share capital 18,000 Retained earnings 43,000 Total $ 122,000 $ 2014 15,000 14,000 35,000 78,000 (24,000) 118,000 METRO...
Problem 13-8A Presented below are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment 2015 $38,000 30,000 27,000 60,000 (29,000) 2014 $20,000 14,000 20,000 78,000 (24,000) Total $126,000 $108,000 Liabilities and Stockholders' Equit Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $24,000 7,000 27,000 18,000 50,000 $126,000 $ 15,000 8,000 33,000 14,000 38,000 $108,000 Total NOSKER COMPANY ncome Statement For the Year Ended December 31,...
The Adams Corporation reported the following income statement for 2018 and comparative balance sheet for 2018 and 2017, along with transaction data for 2018: (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) (Click the icon to view the additional data.) Prepare Adams Corporation's statement of cash flows for the year ended December 31, 2018. Format cash flows from operating activities by the indirect method. (Use a minus sign or parentheses for...
From the problem below, identify which ones are operating assets, operating liabilities, operating revenues and operating expenses. Income Statement 2018 2017 Sales Revenue $180,000 $165,000 Cost of Goods Sold 110,000 100,000 Gross Profit 70,000 65,000 Operating expenses 53,300 50,400 Interest expense 2,700 2,600 Income before income tax 14,000 12,000 Income tax expense 4,000 3,000 Net Income $10,000 $9,000 Balance Sheet 2018 2017 Cash $22,000 $16,000 Accounts Receivable (net) 19,000 17,000 Investments (short-term) 3,000 5,000 Inventory 34,000 30,000 Prepaid Expenses 2,000...
Prepare a statement of cash flows--indirect method Presented below are the financial statements of Warner Company. WARNER COMPANY Comparative Balance Sheet December 31 Assets 2022 2023 Cash $35,000 $20,000 Accounts receivable 20,000 14,000 Inventory 28,000 20,000 Property, plant, and equipment 60,000 78,000 Accumulated depreciation (32,000) (24,000) Total $111,000 $108,000 Liabilities and Stockholders' Equity Accounts payable $19,000 $15,000 Income taxes payable 7,000 8,000 Bonds payable 17,000 33,000 Common stock 18,000 14,000 Retained earnings 50,000 38,000 Total $111,000 $108,000 WARNER COMPANY Income...