Homework Answers
| Millico Inc. | |
| Cash Flow statement using the Indirect Method:- | |
| Particulars | Amount($) |
| Cash Flow From OPERATING Activities:- | |
| Net Income | $21,600 |
| Add:-Depreciation [14400-12600) | $1,800 |
| Adjustment for Working Capital Changes:- | |
| Less:-Increase in Accounts Receivable | -$6,600 |
| Add:- Decrease in Invenries | $7,800 |
| Less:-Decrease in Accounts Payable | -$2,400 |
| Less:-Decrease in other Accrued Laibilities | -$1,800 |
| Cash generating From Operating Activities:- (A) | $20,400 |
| Cash Flow From INVESTING Activities:- | |
| Purchase of Equipment & Plant | -$8,400 |
| Cash generating From Investing Activities:- (B) | -$8,400 |
| Cash Flow From FINANCING Activities:- | |
| Issue of Common Stock | $4,800 |
| Dividends Paid | -$6,000 |
| Long term Debt Paid | -$7,800 |
| Cash generating From Financing Activities:- ( C) | -$9,000 |
| Net Cash flow generation during the year (A+B+C) | $3,000 |
| Begining Cash Balance | $22,200 |
| Ending Cash Balance | $25,200 |
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Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO...
Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO...
Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 46,200 70,400 89,100 $ 205,700 $ 40,700 58,300 103, 400 $ 202,400 182,600 (26,400) $361,900 167,200 (23, 100) $346,500 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term...
Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO...
Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 58,800 89,600 113,400 $261,800 $ 51,800 74,200 131,600 $257,600 232,400 (33,600) $460, 600 212,800 (29,400) $441,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities...
Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO...
Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 42,000 64,000 81,000 $187.000 $ 37,000 53,000 94,000 $184,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholdanell Fruit 166,000 (24,000) $329,000 152,000 (21,000)...
10.00 points Following are comparative balance sheets for Millco, Inc., at January 31 and February 28,...
10.00 points Following are comparative balance sheets for Millco, Inc., at January 31 and February 28, 2017 MILLCO, INC Balance Sheets February 28 and January 31, 2017 February 28 Assets Cash Accounts receivable Merchandise inventory 54,600 48,100 68,900 122.200 $243,100 $239,200 83,200 105300 Total current assets Plant and equipment 215,800 197,600 Less. Accumulated depreciation (31200)27.300) $427,700 Total assets $409,500 Liabilities Accounts payable Short-term debt Other accrued liabilities s 48,100$ 53,300 57, 200 31,200 57,200 Total current iabilises Long-term debt 2,600...
Following are comparative balance sheets for Millico Inc. at January 31 and February 28, 2020 February...
Following are comparative balance sheets for Millico Inc. at January 31 and February 28, 2020 February 28 January 31 $ 58,00 89,600 113.400 $261, see $ 51,00 74,200 131,600 $257,600 232,400 (33,600) 5460,600 212.00 (29,400) $441,000 MILLCO INC. Balance Sheets February 28 and January 31, 2020 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment Production equipment Less Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities...
un Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 42,000 64,000 81,000 $ 187,000 $ 37,000 53,...
un Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 42,000 64,000 81,000 $ 187,000 $ 37,000 53,000 94,000 $184,000 166,000 (24,000) $329,000 152,000 (21,000 $315,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par value, 40,000 shares authorized, 30,000 and 28,000 shares issued, respectively...
un Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 42,000 64,000...
un Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 42,000 64,000 81,000 $ 187,000 $ 37,000 53,000 94,000 $184,000 166,000 (24,000) $329,000 152,000 (21,000 $315,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par value, 40,000 shares authorized, 30,000 and 28,000 shares issued, respectively...
Prepare statement of cash flows (indirect method) using balance sheet data Following are comparative I#lance sheets for...
Prepare statement of cash flows (indirect method) using balance sheet data Following are comparative I#lance sheets for Millco, Inc., at January 31 and February 28, 2020: MILLCO, INC. Balance Sheets January 31 and February 28, 2020 Assets: Cash Accounts receivable Merchandise inventory Total current assets Plant and Equipment: Production equipment Less: Accumulated depreciation Total assets Feb. 28 $126,000 192,000 243,000 $561,000 Jan. 31 $111,000 159,000 282,000 $552,000 $498,000 (72,000) $987,000 $456,000 (63,000) $945,000 Liabilities: Accounts payable Short-term debt Other accrued...
please answer question in full and most important please be clear on your answer, try to use the same format if possibl...
please answer question in full and most important please be
clear on your answer, try to use the same format if possible
Following are comparative ba ice sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 37,800 57,600 72,900 $168,300 $ 33,300 47,700 84,600 $165,600 149,400 (21,600) $ 296,100 136,800 (18,980) $283,500 Assets Cash Accoun receivable Merchandise inventory Total current assets Plant and...
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019....
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $540,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 Assets Cash $ 24,000 $ 21,000 Accounts receivable 78,000 72,000 Merchandise inventory 103,000 99,000 Total current assets $ 205,000 $ 192,000 Land 50,000 40,000 Plant and equipment 125,000 110,000 Less: Accumulated depreciation (65,000 ) (60,000 ) Total assets $ 315,000 $ 282,000 Liabilities...
Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 46,200 70,400 89,100 $ 205,700 $ 40,700 58,300 103, 400 $ 202,400 182,600 (26,400) $361,900 167,200 (23, 100) $346,500 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term...
Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 58,800 89,600 113,400 $261,800 $ 51,800 74,200 131,600 $257,600 232,400 (33,600) $460, 600 212,800 (29,400) $441,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities...
Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 42,000 64,000 81,000 $187.000 $ 37,000 53,000 94,000 $184,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholdanell Fruit 166,000 (24,000) $329,000 152,000 (21,000)...
10.00 points Following are comparative balance sheets for Millco, Inc., at January 31 and February 28, 2017 MILLCO, INC Balance Sheets February 28 and January 31, 2017 February 28 Assets Cash Accounts receivable Merchandise inventory 54,600 48,100 68,900 122.200 $243,100 $239,200 83,200 105300 Total current assets Plant and equipment 215,800 197,600 Less. Accumulated depreciation (31200)27.300) $427,700 Total assets $409,500 Liabilities Accounts payable Short-term debt Other accrued liabilities s 48,100$ 53,300 57, 200 31,200 57,200 Total current iabilises Long-term debt 2,600...
Following are comparative balance sheets for Millico Inc. at January 31 and February 28, 2020 February 28 January 31 $ 58,00 89,600 113.400 $261, see $ 51,00 74,200 131,600 $257,600 232,400 (33,600) 5460,600 212.00 (29,400) $441,000 MILLCO INC. Balance Sheets February 28 and January 31, 2020 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment Production equipment Less Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities...
un Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 42,000 64,000 81,000 $ 187,000 $ 37,000 53,000 94,000 $184,000 166,000 (24,000) $329,000 152,000 (21,000 $315,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par value, 40,000 shares authorized, 30,000 and 28,000 shares issued, respectively...
un Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 42,000 64,000 81,000 $ 187,000 $ 37,000 53,000 94,000 $184,000 166,000 (24,000) $329,000 152,000 (21,000 $315,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par value, 40,000 shares authorized, 30,000 and 28,000 shares issued, respectively...
Prepare statement of cash flows (indirect method) using balance sheet data Following are comparative I#lance sheets for Millco, Inc., at January 31 and February 28, 2020: MILLCO, INC. Balance Sheets January 31 and February 28, 2020 Assets: Cash Accounts receivable Merchandise inventory Total current assets Plant and Equipment: Production equipment Less: Accumulated depreciation Total assets Feb. 28 $126,000 192,000 243,000 $561,000 Jan. 31 $111,000 159,000 282,000 $552,000 $498,000 (72,000) $987,000 $456,000 (63,000) $945,000 Liabilities: Accounts payable Short-term debt Other accrued...
please answer question in full and most important please be
clear on your answer, try to use the same format if possible
Following are comparative ba ice sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 37,800 57,600 72,900 $168,300 $ 33,300 47,700 84,600 $165,600 149,400 (21,600) $ 296,100 136,800 (18,980) $283,500 Assets Cash Accoun receivable Merchandise inventory Total current assets Plant and...
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