Please give correct answersHomework Answers
| STATEMENT OF CASH FLOWS | ||
| Cash flows from operating activities: | ||
| Net income | $ 21,100 | |
| Adjustments to reconcile net income to net cash provided by operations: | ||
| Income statement items not affeccting cash: | ||
| Depreciation expenses | $ 14,200 | |
| Changes in current operating assets and liabilities: | ||
| Decrease in accounts receivable | $ 4,100 | |
| Increase in inventory | $ -39,500 | |
| Decrease in accounts payable | $ -2,900 | |
| Decrease in salaries payable | $ -200 | $ -24,300 |
| Net cash used by operating activities | $ -3,200 | |
| Cash flows from investing activities: | ||
| Purchase of equipment | $ -16,700 | |
| Net cash used by investing activities | $ -16,700 | |
| Cash flows from financing activities: | ||
| Issues of stock | $ 20,000 | |
| Cash from financing activities | $ 20,000 | |
| Increase in cash during the year | $ 100 | |
| Cash balance at the beginning of the year | $ 60,000 | |
| Cash balance at the end of the year | $ 60,100 | |
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Prior Year Comparative Balance Sheets December 31 Current Year Assets Cash $...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 31,000 Accounts...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 31,000 Accounts receivable, net 10,300 Inventory 92,400 Total current assets 133,700 Equipment 51,200 Accum. depreciation-Equipment (23, 100) Total assets $161,800 Liabilities and Equity Accounts payable $ 24,600 Salaries payable 500 Total current liabilities 25,100 Equity Common stock, no par value 112,800 Retained earnings 23,900 Total liabilities and equity $161,800 $ 31,200 12,600 72,800 116,600 43, 100 (16,000) $143,700 $ 26,600 600 27,200 103,400 13,100 $ 143,700...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 32,300 Accounts...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 32,300 Accounts receivable, net 10,600 Inventory 95, 100 Total current assets 138,000 Equipment 52,700 Accum. depreciation-Equipment (23,880) Total assets $166,990 Liabilities and Equity Accounts payable $ 25,300 Salaries payable 500 Total current liabilities 25,800 Equity Common stock, no par value 117,300 Retained earnings 23,800 Total liabilities and equity $166,960 $ 32,400 13,000 75,1ee 120,500 44,500 16,580) $ 148,500 $ 27,400 600 28,000 107,400 13,160 $148,500 MONTGOMERY...
MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 34,500 $...
MONTGOMERY INC.
Comparative Balance Sheets
December 31
Current Year
Prior Year
Assets
Cash
$
34,500
$
34,900
Accounts receivable, net
10,000
12,400
Inventory
89,600
71,700
Total current assets
134,100
119,000
Equipment
49,600
42,400
Accum. depreciation—Equipment
(22,400
)
(15,600
)
Total assets
$
161,300
$
145,800
Liabilities and Equity
Accounts payable
$
23,800
$
25,900
Salaries payable
400
500
Total current liabilities
24,200
26,400
Equity
Common stock, no par value
117,100
108,500
Retained earnings
20,000
10,900
Total liabilities and equity
$...
MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 30,400 $...
MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 30,400 $ 30,550 Accounts receivable, net 10,050 12,150 Inventory 90,100 70,150 Total current assets 130,550 112,850 Equipment 49,900 41,500 Accum. depreciation—Equipment (22,500 ) (15,300 ) Total assets $ 157,950 $ 139,050 Liabilities and Equity Accounts payable $ 23,900 $ 25,400 Salaries payable 500 600 Total current liabilities 24,400 26,000 Equity Common stock, no par value 110,000 100,000 Retained earnings 23,550 13,050 Total liabilities and equity $...
Show calculations if applicable: 11 ΜΟΝTGOME RY INC. Comparative Balance Sheets December 31 0.83 Prior Year...
Show calculations if applicable:
11 ΜΟΝTGOME RY INC. Comparative Balance Sheets December 31 0.83 Prior Year Current Year points Assets $ 58,200 18,300 Cash $58,100 22,300 128,800 209,200 76,200 Accounts receivable, net 164,100 240,600 90,900 Inventory еВook Total current assets Equipment Accum. depreciation- Equipment |(41,000) |(28,100) Print $257,300 $290,500 Total assets Liabilities and Equity Accounts payable Salaries payable References $ 43,600 $46,600 900 1,100 47,700 44,500 Total current liabilities Equity Common stock, no par 202,500 185,700 value Retained earnings 43,500...
GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 167,000 $...
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Exercise 12-12 Indirect: Preparing statement of cash flows LO P2, P3 Prior Year MONTGOMERY INC. Comparative...
Exercise 12-12 Indirect: Preparing statement of cash flows LO P2, P3 Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 60,100 Accounts receivable, net 19,800 Inventory 177,500 Total current assets 257,400 Equipment 98,300 Accum. depreciation-Equipment (44,300) Total assets $311,400 Liabilities and Equity Accounts payable $ 47,100 Salaries payable 1,000 Total current liabilities 48,100 Equity Common stock, no par value 216,100 Retained earnings 47,200 Total liabilities and equity $311,480 $ 60,000 23,900 138,000 221,900 81,600 (30,...
FORTEN COMPANY Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 72,400 $...
FORTEN COMPANY Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 72,400 $ 88,500 Accounts receivable 88,420 65,625 Inventory 298,156 266,800 Prepaid expenses 1,360 2,195 Total current assets 460,336 423,120 Equipment 142,500 123,000 Accum. depreciation—Equipment (44,125 ) (53,500 ) Total assets $ 558,711 $ 492,620 Liabilities and Equity Accounts payable $ 68,141 $ 137,175 Short-term notes payable 14,500 9,000 Total current liabilities 82,641 146,175 Long-term notes payable 57,500 63,750 Total liabilities 140,141 209,925 Equity Common stock, $5...
FORTEN COMPANY Comparative Balance Sheets December 31 Current Year Prior Year $ 49,800 65,810 275,656 1,250...
FORTEN COMPANY Comparative Balance Sheets December 31 Current Year Prior Year $ 49,800 65,810 275,656 1,250 392,516 157,500 (36,625) $513,391 $ 73,500 50,625 251,800 1,875 377,800 108,000 (46,000) $439,800 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term notes payable Total liabilities Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: Changes in current operating assets and liabilities Depreciation expense Decrease in accounts receivable Decrease in accounts payable Decrease in salaries payable Increase in inventory Net cash used in operating activities Cash flows from investing activities 0) Cash flows from financing activities 0 0 Cash balance at beginning of...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 31,000 Accounts receivable, net 10,300 Inventory 92,400 Total current assets 133,700 Equipment 51,200 Accum. depreciation-Equipment (23, 100) Total assets $161,800 Liabilities and Equity Accounts payable $ 24,600 Salaries payable 500 Total current liabilities 25,100 Equity Common stock, no par value 112,800 Retained earnings 23,900 Total liabilities and equity $161,800 $ 31,200 12,600 72,800 116,600 43, 100 (16,000) $143,700 $ 26,600 600 27,200 103,400 13,100 $ 143,700...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 32,300 Accounts receivable, net 10,600 Inventory 95, 100 Total current assets 138,000 Equipment 52,700 Accum. depreciation-Equipment (23,880) Total assets $166,990 Liabilities and Equity Accounts payable $ 25,300 Salaries payable 500 Total current liabilities 25,800 Equity Common stock, no par value 117,300 Retained earnings 23,800 Total liabilities and equity $166,960 $ 32,400 13,000 75,1ee 120,500 44,500 16,580) $ 148,500 $ 27,400 600 28,000 107,400 13,160 $148,500 MONTGOMERY...
MONTGOMERY INC.
Comparative Balance Sheets
December 31
Current Year
Prior Year
Assets
Cash
$
34,500
$
34,900
Accounts receivable, net
10,000
12,400
Inventory
89,600
71,700
Total current assets
134,100
119,000
Equipment
49,600
42,400
Accum. depreciation—Equipment
(22,400
)
(15,600
)
Total assets
$
161,300
$
145,800
Liabilities and Equity
Accounts payable
$
23,800
$
25,900
Salaries payable
400
500
Total current liabilities
24,200
26,400
Equity
Common stock, no par value
117,100
108,500
Retained earnings
20,000
10,900
Total liabilities and equity
$...
Show calculations if applicable:
11 ΜΟΝTGOME RY INC. Comparative Balance Sheets December 31 0.83 Prior Year Current Year points Assets $ 58,200 18,300 Cash $58,100 22,300 128,800 209,200 76,200 Accounts receivable, net 164,100 240,600 90,900 Inventory еВook Total current assets Equipment Accum. depreciation- Equipment |(41,000) |(28,100) Print $257,300 $290,500 Total assets Liabilities and Equity Accounts payable Salaries payable References $ 43,600 $46,600 900 1,100 47,700 44,500 Total current liabilities Equity Common stock, no par 202,500 185,700 value Retained earnings 43,500...
Exercise 12-12 Indirect: Preparing statement of cash flows LO P2, P3 Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 60,100 Accounts receivable, net 19,800 Inventory 177,500 Total current assets 257,400 Equipment 98,300 Accum. depreciation-Equipment (44,300) Total assets $311,400 Liabilities and Equity Accounts payable $ 47,100 Salaries payable 1,000 Total current liabilities 48,100 Equity Common stock, no par value 216,100 Retained earnings 47,200 Total liabilities and equity $311,480 $ 60,000 23,900 138,000 221,900 81,600 (30,...
FORTEN COMPANY Comparative Balance Sheets December 31 Current Year Prior Year $ 49,800 65,810 275,656 1,250 392,516 157,500 (36,625) $513,391 $ 73,500 50,625 251,800 1,875 377,800 108,000 (46,000) $439,800 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term notes payable Total liabilities Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: Changes in current operating assets and liabilities Depreciation expense Decrease in accounts receivable Decrease in accounts payable Decrease in salaries payable Increase in inventory Net cash used in operating activities Cash flows from investing activities 0) Cash flows from financing activities 0 0 Cash balance at beginning of...
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