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| Cash Flow Statement: | |
| From Operating activities:' | |
| $ | |
| Net Income | 129200 |
| Adjustments : | |
| Add: Depre. | 35000 |
| Add: Loss on sale of land | 8800 |
| Less:increase in AR | -21800 |
| Add:decrease in Inven | 38000 |
| Less:incre. In Prep. Rent | -6960 |
| Less:decrease in AP | -15800 |
| Less:decre. In Int. Pay. | -4800 |
| Add:increase in IT pay. | 1000 |
| Net cash inflow of Operating activities | 162640 |
| From Investing activities: | |
| less:investment made | -113000 |
| add: Sale of land | 29200 |
| Net cash outflow from Investing activities | -83800 |
| From Financing activities: | |
| Less:Dividend paid | -29000 |
| Cash inflow of all activities | 49840 |
| Add:opening cash | 211040 |
| Closing Cash | 260880 |
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Order Detalls * > Travel Itinerary 1 X X Berlin Travel Gul* t Central Euro →...
The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. 2.5 points...
The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. 2.5 points eBook Ask VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales $3,636,000 Expenses: Cost of goods sold $2,450,000 Operating expenses 958,000 Depreciation expense 37,000 Loss on sale of land 9,000 Interest expense 20,000 Income tax expense 58,000 Total expenses 3,532,000 Net income $ 104,000 References VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 Assets Current assets: Cash $...
Problem 11-7A Calculate operating activities--direct method (LO11-4, 11-5, 11-7) The incc ne statement, balance sheets, and...
Problem 11-7A Calculate operating activities--direct method (LO11-4, 11-5, 11-7) The incc ne statement, balance sheets, and additional information for Video Phones, Inc., are provided. VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales $ 2,636,000 Expenses: Cost of goods sold $1,600,000 Operating expenses 788,000 Depreciation expense 20,000 Loss on sale of land 7,300 Interest expense 11,500 Income tax expense 41,000 Total expenses 2,467,800 Net income $ 168,200 VIDEO PHONES, INC. Balance Sheets December 31 Assets...
The Income statement, balance sheets, and additional Information for Video Phones, Inc., are provided. $2,576, VIDEO...
The Income statement, balance sheets, and additional Information for Video Phones, Inc., are provided. $2,576, VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales Expenses: Cost of goods sold $1,550,000 Operating expenses 778.888 Depreciation expense 19.000 Loss on sale of land 7,200 Interest expense 11,000 Income tax expense 40.000 Total expenses Net income 2,485,280 $ 178,888 VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 $ 152,320 72,200 105,88 8,888 $ 77,568 52.600 127,000 4,440...
The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. $3,486,000 VIDEO...
The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. $3,486,000 VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales Expenses: Cost of goods sold $2,300,000 Operating expenses 928,000 Depreciation expense 34,000 Loss on sale of land 8,700 Interest expense 18,500 Income tax expense 55,000 Total expenses Net income 3,344,200 $ 141,800 VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 $ 264,020 88,700 105,000 13,680 $202,660 67,000 142,000 6,840 Assets...
Homework: Chapter 16 Calculator Print Item Use the following information from Berlin Company's financial statements. Dec....
Homework: Chapter 16 Calculator Print Item Use the following information from Berlin Company's financial statements. Dec. 31, 2018 Dec 31, 2017 Assets Cash $30,000 $24,000 12.000 Accounts Receivable 10,000 Prepaid Assets 1,000 1,200 $41,200 Total Assets $37,000 Liabilities and Equity Accrued Liabilities 1,700 1,800 Common Stock 33,000 35,000 Retained Earnings 6,500 200 Total Liabilities and Equity $41,200 $37,000 Additional Information: Net Income $5,800 Dividends Pald -500 Prepare the operating activities section of the statement of cash flows (Indirect method) for...
VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2021 Net sales $3,436,000 Expenses:...
VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2021 Net sales $3,436,000 Expenses: Cost of goods sold $2,250,000 918,000 33,000 8,600 Operating expenses Depreciation expense Loss on sale of land Interest expense 18,000 Income tax expense 54,000 Total expenses 3,281,600 154,400 Net income VIDEO PHONES, INC Balance Sheets December 31 2021 2020 Assets Current assets: $194,280 66,000 141,000 6,720 Cash 267,160 87,600 105,000 13,440 Accounts receivable Inventory Prepaid rent Long-term assets: 111,000 216,000 282,000 0 Investments Land...
The Income statement, balance sheets, and additional Information for Video Phones, Inc., are provided. $2.936,eee VIDEO...
The Income statement, balance sheets, and additional Information for Video Phones, Inc., are provided. $2.936,eee VIDEO PHONES, INC. Tincome statement For the Year Ended December 31, 2021 Nel sales Expenses Cost of goods Suid $1.ase,eee Operating expenses 838 Dee Depreciation expense 25.000 Loss on sale of land 7 Interest expense 14. Income tax expense 46.63 Total expenses Net Income 288.900 15529 VIDEO PHONES, INCI 2021 $ 193,480 78,888 145.600 10,320 $127,848 58.000 133,eee 5,160 Assets Current assets: Cash Accounts receivable...
Problem 11-4A Prepare a statement of cash flows-indirect method (L011-2, 11-3, 11-4, 11- The income statement,...
Problem 11-4A Prepare a statement of cash flows-indirect method (L011-2, 11-3, 11-4, 11- The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. $3,386,000 VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales Expenses : Cost of goods sold $2,200,000 Operating expenses 998,000 Depreciation expense 32,000 Loss on sale of land 8,500 Interest expense 17,500 Income tax expense 53,000 Total expenses Net income ces 3,219,080 $ 167,000 VIDEO PHONES, INC. Balance...
The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. $ 2,936,000...
The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. $ 2,936,000 VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2018 Net sales Expenses: Cost of goods sold $ 1,850,000 Operating expenses 838,000 Depreciation expense 25,000 Loss on sale of land 7,800 Interest expense 14,000 Income tax expense 46,000 Total expenses 2,780,800 Net income $ 155,200 VIDEO PHONES, INC. Balance Sheets December 31 2018 2017 127,840 Assets Current assets: Cash Accounts receivable Inventory...
Income Statement For the Year Ended December 31, 2021 $2,576,000 Net sales Expenses: Cost of goods...
Income Statement For the Year Ended December 31, 2021 $2,576,000 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses $1,550,000 778,000 19,000 7,200 11,000 40,e00 2,405,200 $ 170,800 Net income VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 Assets Current assets: $ 77,560 52,000 127,000 4,440 $152,320 72,200 105,000 8,880 Cash Accounts receivable Inventory Prepaid rent Long-term assets : Investments 97,000 202,000 254,000 (59,400) $832,000...
The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. 2.5 points eBook Ask VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales $3,636,000 Expenses: Cost of goods sold $2,450,000 Operating expenses 958,000 Depreciation expense 37,000 Loss on sale of land 9,000 Interest expense 20,000 Income tax expense 58,000 Total expenses 3,532,000 Net income $ 104,000 References VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 Assets Current assets: Cash $...
Problem 11-7A Calculate operating activities--direct method (LO11-4, 11-5, 11-7) The incc ne statement, balance sheets, and additional information for Video Phones, Inc., are provided. VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales $ 2,636,000 Expenses: Cost of goods sold $1,600,000 Operating expenses 788,000 Depreciation expense 20,000 Loss on sale of land 7,300 Interest expense 11,500 Income tax expense 41,000 Total expenses 2,467,800 Net income $ 168,200 VIDEO PHONES, INC. Balance Sheets December 31 Assets...
The Income statement, balance sheets, and additional Information for Video Phones, Inc., are provided. $2,576, VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales Expenses: Cost of goods sold $1,550,000 Operating expenses 778.888 Depreciation expense 19.000 Loss on sale of land 7,200 Interest expense 11,000 Income tax expense 40.000 Total expenses Net income 2,485,280 $ 178,888 VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 $ 152,320 72,200 105,88 8,888 $ 77,568 52.600 127,000 4,440...
The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. $3,486,000 VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales Expenses: Cost of goods sold $2,300,000 Operating expenses 928,000 Depreciation expense 34,000 Loss on sale of land 8,700 Interest expense 18,500 Income tax expense 55,000 Total expenses Net income 3,344,200 $ 141,800 VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 $ 264,020 88,700 105,000 13,680 $202,660 67,000 142,000 6,840 Assets...
Homework: Chapter 16 Calculator Print Item Use the following information from Berlin Company's financial statements. Dec. 31, 2018 Dec 31, 2017 Assets Cash $30,000 $24,000 12.000 Accounts Receivable 10,000 Prepaid Assets 1,000 1,200 $41,200 Total Assets $37,000 Liabilities and Equity Accrued Liabilities 1,700 1,800 Common Stock 33,000 35,000 Retained Earnings 6,500 200 Total Liabilities and Equity $41,200 $37,000 Additional Information: Net Income $5,800 Dividends Pald -500 Prepare the operating activities section of the statement of cash flows (Indirect method) for...
VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2021 Net sales $3,436,000 Expenses: Cost of goods sold $2,250,000 918,000 33,000 8,600 Operating expenses Depreciation expense Loss on sale of land Interest expense 18,000 Income tax expense 54,000 Total expenses 3,281,600 154,400 Net income VIDEO PHONES, INC Balance Sheets December 31 2021 2020 Assets Current assets: $194,280 66,000 141,000 6,720 Cash 267,160 87,600 105,000 13,440 Accounts receivable Inventory Prepaid rent Long-term assets: 111,000 216,000 282,000 0 Investments Land...
The Income statement, balance sheets, and additional Information for Video Phones, Inc., are provided. $2.936,eee VIDEO PHONES, INC. Tincome statement For the Year Ended December 31, 2021 Nel sales Expenses Cost of goods Suid $1.ase,eee Operating expenses 838 Dee Depreciation expense 25.000 Loss on sale of land 7 Interest expense 14. Income tax expense 46.63 Total expenses Net Income 288.900 15529 VIDEO PHONES, INCI 2021 $ 193,480 78,888 145.600 10,320 $127,848 58.000 133,eee 5,160 Assets Current assets: Cash Accounts receivable...
Problem 11-4A Prepare a statement of cash flows-indirect method (L011-2, 11-3, 11-4, 11- The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. $3,386,000 VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales Expenses : Cost of goods sold $2,200,000 Operating expenses 998,000 Depreciation expense 32,000 Loss on sale of land 8,500 Interest expense 17,500 Income tax expense 53,000 Total expenses Net income ces 3,219,080 $ 167,000 VIDEO PHONES, INC. Balance...
The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. $ 2,936,000 VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2018 Net sales Expenses: Cost of goods sold $ 1,850,000 Operating expenses 838,000 Depreciation expense 25,000 Loss on sale of land 7,800 Interest expense 14,000 Income tax expense 46,000 Total expenses 2,780,800 Net income $ 155,200 VIDEO PHONES, INC. Balance Sheets December 31 2018 2017 127,840 Assets Current assets: Cash Accounts receivable Inventory...
Income Statement For the Year Ended December 31, 2021 $2,576,000 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses $1,550,000 778,000 19,000 7,200 11,000 40,e00 2,405,200 $ 170,800 Net income VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 Assets Current assets: $ 77,560 52,000 127,000 4,440 $152,320 72,200 105,000 8,880 Cash Accounts receivable Inventory Prepaid rent Long-term assets : Investments 97,000 202,000 254,000 (59,400) $832,000...
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