Homework Answers
| Cash from operating activities | |||||
| net income | 75,000 | ||||
| Adjustments | |||||
| Depreciation expense | 50,000 | ||||
| increase in accounts receivable | -30,000 | ||||
| decrease in inventory | 20,000 | ||||
| Decrease in accounts payable | -10,000 | ||||
| decrease in salaries payable | -5,000 | ||||
| net cash from operating activities | 100,000 | answer | |||
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Type your answer in the box. Using the following information, determine the cash flow from operating...
Please explain with full explanations. Thanks Cash flow statements: Required: Prepare a cash flow statement for...
Please explain with full explanations. Thanks
Cash flow statements: Required: Prepare a cash flow statement for Anna's Apples Ltd using the information below. Use the indirect method for operating cash flows. Net profit for year ended 30 June 2015. | Cash Inventory Accounts Payable Unearned Revenue Prepaid Insurance Goodwill Equipment Acc Dep'n Equipment Loan Payable $ 30,000 $ 15,000 $ 12,000 $ 18,000 $ 50,000 $ 300,000 $ 150,000 $ 50,000 $ 20,000 $ 40,000 $ 30,000 $ 15,000 $...
Calculate operating cash flow, change in net working capital, net capital spending, cash flow to creditors...
Calculate operating cash flow, change in net working capital,
net capital spending, cash flow to creditors and cash flow to
stockholders. Does the cash flow identity hold?
Balance Sheet 2017 2018 Assets Current assets Cash $5,000 $6,500 Accounts receivable $31,500 30,000 $42,000 Inventory 40,000 Total $75,000 $80,000 Fixed assets Net plant and equipment $393,750 375,000 $450,000 Total assets $473,750 Liabilities and Owners Equity Current liabilities Accounts payable $50,000 $53,750 Notes payable 25,000 $26,250 Total $75,000 $80,000 Long-term debt Owners' equity...
Answer question (b), do not copy others answer. (b) Determine the amount of goodwill that prover...
Answer question (b), do not copy others answer.
(b) Determine the amount of goodwill that prover should report
in its current financial statement.
P1-33 Goodwill Assigned to Multiple Reporting Units The fair values of assets and liabilities held by three reporting units and other information related to the reporting units owned by Prover Company are as follows: Reporting Unit Cash & Receivables Inventory Land Buildings Equipment Accounts Payable Fair Value of Reporting Unit Carrying Value of Investment Goodwill Included in...
FIND THE CASH FLOW STATEMENT Seatwork 2.1 CASH FLOW STATEMENT The following financial statements are from...
FIND THE CASH FLOW STATEMENT
Seatwork 2.1 CASH FLOW STATEMENT The following financial statements are from Lucena Company in ($): Cash Accounts Receivable (net) Inventories Fixed Assets (net) Dec. 31, 2018 14,000 22,000 65,000 85,000 Dec. 31, 2019 16,000 28,000 55,000 79,000 TOTAL ASSETS 186,000 178,000 Accounts Payable Bonds Payable Common Stock (par value of $10) Retained Earnings 30,000 60,000 60,000 36,000 15,000 75,000 60,000 28,000 TOTALL AND SE 186,000 178,000 INCOME STATEMENT FOR 2019 Sales Cost of Goods Sold...
Determine the amount of goodwill that prover should report in its current financial statement. P1-33 Goodwill...
Determine the amount of goodwill that prover should report in
its current financial statement.
P1-33 Goodwill Assigned to Multiple Reporting Units The fair values of assets and liabilities held by three reporting units and other information related to the reporting units owned by Prover Company are as follows: Reporting Unit Cash & Receivables Inventory Land Buildings Equipment Accounts Payable Fair Value of Reporting Unit Carrying Value of Investment Goodwill Included in Carrying Value $ 30,000 60,000 20,000 100,000 140.000 40,000...
Prepare Statement of cash flows for current year using indirect method. Dynamic Drones Comparative Balance Sheet...
Prepare Statement of cash flows for current year using indirect
method.
Dynamic Drones Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, Net Merchandise Inventory Prepaid Rent Total Current Assets $60,000 $140,000 $110,000 $20,000 $330,000 $80,000 $100,000 $70,000 $10,000 $260,000 Property, plant, and Equipment: Equipment $400,000 Less: Accumulated Depreciation - Equipment ($60,000) Total Property, Plant, and Equipment $340,000 Total Assets $670,000 $191,000 ($42,400) $148,600 $408,600 2019 2018 Liabilities and Stockholders' Equity Current Liabilities:...
The independent cases are listed below includes all balance sheet accounts related to operating activities: Net...
The independent cases are listed below includes all balance sheet accounts related to operating activities: Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease) Accrued liabilities increase (decrease) Case A $310, 689 40,000 100,000 (50,000) (50,000) 60,000 Case B $ 15,000 150,000 (200,000) 35,000 120, (220,000) Case C $420,000 80,000 (20,000) 50,000 70,000 (40,000) Show the operating activities section of cash flows for each of the given cases. (Amounts to minus sign.) Case A...
Required: 1. Calculate the net cash flow from Operating, Investing & Financing activities using the Indirect...
Required: 1. Calculate the net cash flow from Operating, Investing & Financing activities using the Indirect Method 2. Calculate the cash flow increase or decrease using the Indirect Method Bar Co. had the following transactions during the current financial reporting period. Decrease in inventories $13,000 Increase in accounts payable $34,000 Decrease in income taxes payable $36,700 Decrease in wages payable $18,000 Proceeds on Sale of Equipment $80,000 Repayment of bonds $50,000 Net Income $86,000 Depreciation $20,000 Decrease in accounts receivable...
I need to prepare a statement of cash flows using the indirect method using this information...
I need to prepare a statement of cash flows using the indirect method using this information Assets: Dec. 31st, 2020 Dec. 1st, 2019 Cash 680,000 360,000 Investments 110,000 290,000 Accounts receivable 115,000 130,000 Inventory 230,000 195,000 Prepaid advertising 40,000 25,000 Property & Equipment, net 435,000 500,000 Patents, net 180,000 50,000 Total Assets 1,790,000 1,550,000 Liabilities & Stockholders’ Equity Accounts Payable 265,000 284,000 Wages Payable 30,000 21,000 Notes Payable 650,000 350,000 Common Stock & APIC 600,000 600,000 Treasury Stock (250,000) (50,000)...
Determining Net Cash Flow from Operating Activities Presented below are selected statement of financial position information...
Determining Net Cash Flow from Operating Activities Presented below are selected statement of financial position information and the statement of earnings information for Burch Company. Selected Statement of Financial Position Information Dec. 31, 2018 Dec. 31, 2017 Cash $17,500 $20,000 10,500 8,000 18,000 21,000 Accounts receivable Inventory Accounts payable Income taxes payable 10,000 15,000 1,000 2,500 Burch Company Statement of Earnings For the year ended December 31, 2018 Sales Cost of goods sold Depreciation expense $250,000 (160,000) (15,000) (35,000) (12,000)...
Please explain with full explanations. Thanks
Cash flow statements: Required: Prepare a cash flow statement for Anna's Apples Ltd using the information below. Use the indirect method for operating cash flows. Net profit for year ended 30 June 2015. | Cash Inventory Accounts Payable Unearned Revenue Prepaid Insurance Goodwill Equipment Acc Dep'n Equipment Loan Payable $ 30,000 $ 15,000 $ 12,000 $ 18,000 $ 50,000 $ 300,000 $ 150,000 $ 50,000 $ 20,000 $ 40,000 $ 30,000 $ 15,000 $...
Calculate operating cash flow, change in net working capital,
net capital spending, cash flow to creditors and cash flow to
stockholders. Does the cash flow identity hold?
Balance Sheet 2017 2018 Assets Current assets Cash $5,000 $6,500 Accounts receivable $31,500 30,000 $42,000 Inventory 40,000 Total $75,000 $80,000 Fixed assets Net plant and equipment $393,750 375,000 $450,000 Total assets $473,750 Liabilities and Owners Equity Current liabilities Accounts payable $50,000 $53,750 Notes payable 25,000 $26,250 Total $75,000 $80,000 Long-term debt Owners' equity...
Answer question (b), do not copy others answer.
(b) Determine the amount of goodwill that prover should report
in its current financial statement.
P1-33 Goodwill Assigned to Multiple Reporting Units The fair values of assets and liabilities held by three reporting units and other information related to the reporting units owned by Prover Company are as follows: Reporting Unit Cash & Receivables Inventory Land Buildings Equipment Accounts Payable Fair Value of Reporting Unit Carrying Value of Investment Goodwill Included in...
FIND THE CASH FLOW STATEMENT
Seatwork 2.1 CASH FLOW STATEMENT The following financial statements are from Lucena Company in ($): Cash Accounts Receivable (net) Inventories Fixed Assets (net) Dec. 31, 2018 14,000 22,000 65,000 85,000 Dec. 31, 2019 16,000 28,000 55,000 79,000 TOTAL ASSETS 186,000 178,000 Accounts Payable Bonds Payable Common Stock (par value of $10) Retained Earnings 30,000 60,000 60,000 36,000 15,000 75,000 60,000 28,000 TOTALL AND SE 186,000 178,000 INCOME STATEMENT FOR 2019 Sales Cost of Goods Sold...
Determine the amount of goodwill that prover should report in
its current financial statement.
P1-33 Goodwill Assigned to Multiple Reporting Units The fair values of assets and liabilities held by three reporting units and other information related to the reporting units owned by Prover Company are as follows: Reporting Unit Cash & Receivables Inventory Land Buildings Equipment Accounts Payable Fair Value of Reporting Unit Carrying Value of Investment Goodwill Included in Carrying Value $ 30,000 60,000 20,000 100,000 140.000 40,000...
Prepare Statement of cash flows for current year using indirect
method.
Dynamic Drones Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, Net Merchandise Inventory Prepaid Rent Total Current Assets $60,000 $140,000 $110,000 $20,000 $330,000 $80,000 $100,000 $70,000 $10,000 $260,000 Property, plant, and Equipment: Equipment $400,000 Less: Accumulated Depreciation - Equipment ($60,000) Total Property, Plant, and Equipment $340,000 Total Assets $670,000 $191,000 ($42,400) $148,600 $408,600 2019 2018 Liabilities and Stockholders' Equity Current Liabilities:...
The independent cases are listed below includes all balance sheet accounts related to operating activities: Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease) Accrued liabilities increase (decrease) Case A $310, 689 40,000 100,000 (50,000) (50,000) 60,000 Case B $ 15,000 150,000 (200,000) 35,000 120, (220,000) Case C $420,000 80,000 (20,000) 50,000 70,000 (40,000) Show the operating activities section of cash flows for each of the given cases. (Amounts to minus sign.) Case A...
Determining Net Cash Flow from Operating Activities Presented below are selected statement of financial position information and the statement of earnings information for Burch Company. Selected Statement of Financial Position Information Dec. 31, 2018 Dec. 31, 2017 Cash $17,500 $20,000 10,500 8,000 18,000 21,000 Accounts receivable Inventory Accounts payable Income taxes payable 10,000 15,000 1,000 2,500 Burch Company Statement of Earnings For the year ended December 31, 2018 Sales Cost of goods sold Depreciation expense $250,000 (160,000) (15,000) (35,000) (12,000)...
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