Need help finding the net cash inflows for
the year and beginning cash balance
Homework Answers
Solution:
Net cash flow for the year = 24600 - 45900 + 62000 = $40,700
Beginning cash balance (Given in Question) = $30,000
Ending cash balance = $40700 + 30000 = $70,700
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Need help finding the net cash inflows for
the year and beginning cash balance
IlIlIcase ill...
Avalos Corporation is preparing its annual financial statements at December 31 of the current year. Listed...
Avalos Corporation is preparing its annual financial statements at December 31 of the current year. Listed here are the items on its statement of cash flows presented in alphabetical order. Parentheses indicate that a listed amount should be subtracted on the cash flow statement. The beginning balance in cash was $31,000 and the ending balance was $69,800. Cash borrowed on three-year note Decrease in accounts payable Decrease in inventory Increase in accounts receivable Land purchased Net income New delivery truck...
Please fill in 'Cash at the Beginning of the Year' Squirrel Tree Services reports the following...
Please fill in 'Cash at the Beginning of the Year'
Squirrel Tree Services reports the following amounts on December 31, 2021. Assets Cash Supplies Prepaid insurance Building $ 9,100 3,200 4,900 Liabilities and Stockholders' Equity Accounts payable Salaries payable Notes payable Common stock Retained earnings $13,900 4,900 34,000 40,000 10,400 In addition, the company reported the following cash flows. Cash Inflows Customers Borrow from the bank (note) Sale of investments $88,000 34,000 31,000 Cash Outflows Employee salaries Supplies Dividends Purchase...
Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 2049 Cash flows from...
Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 2049 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: $360,000 100,800 17,280 Depreciation Gain on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable Increase in inventories Increase in accounts payable 27,360 (36,000) (3,600) (2,400) Decrease in accrued expenses payable 5463,440 Net cash flow from operating activities Cash flows from investing activities:...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
Spreadsheet for Statement of Cash Flows Year Ended December 31, 2018 Transaction Analysis Balance Balance 12/31/2017 Pa...
Spreadsheet for Statement of Cash Flows Year Ended December 31, 2018 Transaction Analysis Balance Balance 12/31/2017 Panel A Balance Sheet: DEBIT CREDIT 12/31/2018 Cash Accounts Receivable 15,300 4,330 14,600 (500) 33,730 19,800 5,330 16,300 (700) Plant Assets 1,700 Accumulated Depreciation 40,730 Total Assets Accounts Payable 6,700 5,400 Common Stock, no par 5,300 28,130 22,830 4,200 33,730 5,500 Retained Earnings 7,200 40,730 Total Liabilities and Stockholders' Equity Panel B_Statement of Cash Flows: 200 Cash Flows from Operating Activities: Net Income Adjustments...
The following information is available for Vaughn Manufacturing for the year ended December 31, 2022. Beginning...
The following information is available for Vaughn Manufacturing for the year ended December 31, 2022. Beginning cash balance $21,600 Accounts payable increase 5,130 Depreciation expense 36,900 Accounts receivable decrease 4,320 Inventory decrease 2,790 Net income 51,480 Cash received for sale of land at book value 93,600 Cash dividends paid 34,200 Income taxes payable decrease 3,510 Cash used to purchase land 72,900 Cash used to redeem bonds 59,400 Cash received from issuing stock 144,000 Vaughn Manufacturing Statement of Cash Flows-Indirect Method...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Here are comparative balance sheets for Velo Company. Velo Company Comparative Balance Sheets December 31 Assets...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
The following changes in account balances were taken from Walson Company's adjusted trial balance at the...
The following changes in account balances were taken from Walson Company's adjusted trial balance at the end of 2019: Net Changes for 2019 Debit Credit Cash $2,100 Accounts Receivable 8,700 Inventory $2,500 Land 1,900 Buildings and Equipment 10,400 Accumulated Depreciation 6,800 Accounts Payable 4,500 Salaries Payable 800 Income Taxes Payable 1,000 Common Stock, no par 9,000 Retained Earnings 4,000 Sales 69,000 Cost of Goods Sold 34,000 Salaries Expense 17,200 Depreciation Expense 6,800 Income Tax Expense 3,300 Totals $91,000 $91,000 In...
Rojas Corporation’s comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020...
Rojas Corporation’s comparative balance sheets are presented
below.
ROJAS CORPORATION
Comparative Balance Sheets
December 31
2020
2019
Cash
$14,500
$10,700
Accounts receivable
20,800
23,800
Land
19,600
26,300
Buildings
70,100
70,100
Accumulated depreciation—buildings
(15,000
)
(10,700
)
Total
$110,000
$120,200
Accounts payable
$11,800
$28,300
Common stock
75,000
73,400
Retained earnings
23,200
18,500
Total
$110,000
$120,200
Additional information:
1.
Net income was $22,800. Dividends declared and paid were
$18,100.
2.
No noncash investing and financing activities occurred during
2020.
3.
The land...
Avalos Corporation is preparing its annual financial statements at December 31 of the current year. Listed here are the items on its statement of cash flows presented in alphabetical order. Parentheses indicate that a listed amount should be subtracted on the cash flow statement. The beginning balance in cash was $31,000 and the ending balance was $69,800. Cash borrowed on three-year note Decrease in accounts payable Decrease in inventory Increase in accounts receivable Land purchased Net income New delivery truck...
Please fill in 'Cash at the Beginning of the Year'
Squirrel Tree Services reports the following amounts on December 31, 2021. Assets Cash Supplies Prepaid insurance Building $ 9,100 3,200 4,900 Liabilities and Stockholders' Equity Accounts payable Salaries payable Notes payable Common stock Retained earnings $13,900 4,900 34,000 40,000 10,400 In addition, the company reported the following cash flows. Cash Inflows Customers Borrow from the bank (note) Sale of investments $88,000 34,000 31,000 Cash Outflows Employee salaries Supplies Dividends Purchase...
Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 2049 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: $360,000 100,800 17,280 Depreciation Gain on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable Increase in inventories Increase in accounts payable 27,360 (36,000) (3,600) (2,400) Decrease in accrued expenses payable 5463,440 Net cash flow from operating activities Cash flows from investing activities:...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
Spreadsheet for Statement of Cash Flows Year Ended December 31, 2018 Transaction Analysis Balance Balance 12/31/2017 Panel A Balance Sheet: DEBIT CREDIT 12/31/2018 Cash Accounts Receivable 15,300 4,330 14,600 (500) 33,730 19,800 5,330 16,300 (700) Plant Assets 1,700 Accumulated Depreciation 40,730 Total Assets Accounts Payable 6,700 5,400 Common Stock, no par 5,300 28,130 22,830 4,200 33,730 5,500 Retained Earnings 7,200 40,730 Total Liabilities and Stockholders' Equity Panel B_Statement of Cash Flows: 200 Cash Flows from Operating Activities: Net Income Adjustments...
The following information is available for Vaughn Manufacturing for the year ended December 31, 2022. Beginning cash balance $21,600 Accounts payable increase 5,130 Depreciation expense 36,900 Accounts receivable decrease 4,320 Inventory decrease 2,790 Net income 51,480 Cash received for sale of land at book value 93,600 Cash dividends paid 34,200 Income taxes payable decrease 3,510 Cash used to purchase land 72,900 Cash used to redeem bonds 59,400 Cash received from issuing stock 144,000 Vaughn Manufacturing Statement of Cash Flows-Indirect Method...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
Rojas Corporation’s comparative balance sheets are presented
below.
ROJAS CORPORATION
Comparative Balance Sheets
December 31
2020
2019
Cash
$14,500
$10,700
Accounts receivable
20,800
23,800
Land
19,600
26,300
Buildings
70,100
70,100
Accumulated depreciation—buildings
(15,000
)
(10,700
)
Total
$110,000
$120,200
Accounts payable
$11,800
$28,300
Common stock
75,000
73,400
Retained earnings
23,200
18,500
Total
$110,000
$120,200
Additional information:
1.
Net income was $22,800. Dividends declared and paid were
$18,100.
2.
No noncash investing and financing activities occurred during
2020.
3.
The land...
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