Homework Answers
Answer- The company’s net cash provided by in operating activities is =$21800.
Explanation-
| STATEMENT OF CASH FLOWS PARTIAL (USING INDIRECT METHOD) | ||
| FOR THE YEAR ENDED | ||
| Particulars | Amount | |
| $ | ||
| Cash flow from operating activities | ||
| Net Income | -4100 | |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Adjustment for non cash effects | ||
| Depreciation expenses | ($199000-$170100) | 28900 |
| Change in operating assets & liabilities | ||
| Decrease in Accounts receivable | 3000 | |
| Increase in merchandise inventory | -3000 | |
| Increase in prepaid expenses | -2200 | |
| Increase in accounts payable | 5200 | |
| Decrease in accrued liabilities | -4000 | |
| Decrease in income taxes payable | -2000 | |
| Net cash flow from operating activities | 21800 | |
Answer- The company’s net cash used by in investing activities is = -$1000.
Explanation-
| STATEMENT OF CASH FLOWS PARTIAL (USING INDIRECT METHOD) | ||
| FOR THE YEAR ENDED | ||
| Particulars | Amount | |
| Property, plant & equipment purchased | ($340000-$339000) | -1000 |
| Net cash Flow from Investing activities (b) | -1000 | |
Answer- The company’s net cash provided by in operating activities is =$119.
Explanation-
| STATEMENT OF CASH FLOWS PARTIAL (USING INDIRECT METHOD) | ||
| FOR THE YEAR ENDED | ||
| Particulars | Amount | |
| $ | ||
| Cash flow from operating activities | ||
| Net Income | 43 | |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Adjustment for non cash effects | ||
| Depreciation expenses | ($562-$492) | 70 |
| Change in operating assets & liabilities | ||
| Decrease in Accounts receivable | 3 | |
| Decrease in merchandise inventory | 14 | |
| Decrease in accounts payable | -9 | |
| Increase in accrued liabilities | 1 | |
| Decrease in income taxes payable | -3 | |
| Net cash flow from operating activities | 119 | |
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2.
Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents 33,000...
Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 42,000 $ 31,000 Accounts receivable 22,000 18,000 Inventory 66,000 70,000 Total current assets 130,000 119,000 Property, plant, and equipment 401,000 377,000 Less accumulated depreciation 207,000 177,000 Net property, plant, and equipment 194,000 200,000 Total assets $ 324,000 $ 319,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 15,000 $ 17,000 Accrued liabilities 45,000 38,000 Income taxes payable...
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Comparative Balance Sheet Ending Beginning Balance Balance Assets Current assets: $ 52 $ 51 Cash and cash equivalents Accounts receivable 84 83 63 61 Inventory 198 196 Total current assets Property, plant, and equipment 702 560 261 294 Less accumulated depreciation 266 441 Net property, plant, and equipment $639 $462 Total assets Liabilities and stockholders' equity: Current liabilities: $ 58 Accounts payable $62 Accrued liabilities 35 34 Income taxes payable 63 67 163 Total current liabilities 156 71 65 Bonds...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 58,000 $ 51,000 Accounts receivable 37,000 40,800 Inventory 85,000 88,800 Total current assets 180,000 180,600 Property, plant, and equipment 412,000 375,000 Less accumulated depreciation 192,000 150,000 Net property, plant, and equipment 220,000 225,000 Total assets $ 400,000 $ 405,600 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 36,000 $ 38,800 Accrued liabilities 72,000 78,800 Income taxes payable...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 55,000 $ 48,000 Accounts receivable 34,000 37,500 Inventory 82,000 85,500 Total current assets 171,000 171,000 Property, plant, and equipment 403,000 369,000 Less accumulated depreciation 186,000 147,000 Net property, plant, and equipment 217,000 222,000 Total assets $ 388,000 $ 393,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 33,000 $ 35,500 Accrued liabilities 69,000 75,500 Income taxes payable...
llies Corporation's comparatve balance sheet appears below Comparative Balance Sheet Ending Beginning Balance Assets Current assets...
llies Corporation's comparatve balance sheet appears below Comparative Balance Sheet Ending Beginning Balance Assets Current assets Cash and cash equivalents 44,88 37,800 23,000 71,880 Accounts receivable 25,400 73,408 Inventory Total current assets 138,080 135,808 Property, plant, and equipment 378,080 164,880 347,800 136,800 Less accumulated depreciation Net property, plant, and equipment 206,880 211,808 $344,000 $346,800 Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 22,000 23,400 58,889 52,800 132,800 Accrued liabilities 63,408 46,800 Income taxes payable Total current liabilities...
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Hocking Corporation's comparative balance sheet appears below: Hocking Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets Current assets Cash and cash equivalents Accounts recelvable Inventory Prepald expenses Total current assets Property, plant, and equipment Less accumulated depreclation Net property, plant, and equipment Total assets Liabilities and stockholders' equity Current liablities Accounts payable Accrued llabllitles Income taxes payable Total current llabllitles Bonds payable Total llabilitles Stockholders' equity Common stock Retalned earnings Total stockholders' equity Total liablities and stockholders' equity $35,000...
Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance...
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Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance...
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Comparative Balance Sheet This Year Last Year Assets Current assets: Cash and cash equivalents Accounts receivable...
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Carriveau Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Beginning Balance Balance $...
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Comparative Balance Sheet Ending Beginning Balance Balance Assets Current assets: $ 52 $ 51 Cash and cash equivalents Accounts receivable 84 83 63 61 Inventory 198 196 Total current assets Property, plant, and equipment 702 560 261 294 Less accumulated depreciation 266 441 Net property, plant, and equipment $639 $462 Total assets Liabilities and stockholders' equity: Current liabilities: $ 58 Accounts payable $62 Accrued liabilities 35 34 Income taxes payable 63 67 163 Total current liabilities 156 71 65 Bonds...
llies Corporation's comparatve balance sheet appears below Comparative Balance Sheet Ending Beginning Balance Assets Current assets Cash and cash equivalents 44,88 37,800 23,000 71,880 Accounts receivable 25,400 73,408 Inventory Total current assets 138,080 135,808 Property, plant, and equipment 378,080 164,880 347,800 136,800 Less accumulated depreciation Net property, plant, and equipment 206,880 211,808 $344,000 $346,800 Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 22,000 23,400 58,889 52,800 132,800 Accrued liabilities 63,408 46,800 Income taxes payable Total current liabilities...
Hocking Corporation's comparative balance sheet appears below: Hocking Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets Current assets Cash and cash equivalents Accounts recelvable Inventory Prepald expenses Total current assets Property, plant, and equipment Less accumulated depreclation Net property, plant, and equipment Total assets Liabilities and stockholders' equity Current liablities Accounts payable Accrued llabllitles Income taxes payable Total current llabllitles Bonds payable Total llabilitles Stockholders' equity Common stock Retalned earnings Total stockholders' equity Total liablities and stockholders' equity $35,000...
Comparative Balance Sheet This Year Last Year Assets Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expense:s $61,000 $ 40,00e 530,000 860,00e 5,000 1,629,000 1,435,000 3,170,000 2,600,00e 755,000 2,360,000 1,845,000 110,000 170,000 $4,263,000 $3,560,006e 710,000 848, 000 10,000 Total current assets Property, plant, and equipment Less accumulated depreciation 810,00e Net property, plant, and equipment Long-term investments Loans to subsidiaries Total assets 60,000 214,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 970,000...
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