Homework Answers
Solution:-
Please enter minus (-) for cash outflows.
| Cash flow from operating activities | ||
| Cash received from customers | 880,000 | |
| Cash payment for operating expenses | - 758,000 | |
| Net cash flow from operating activities | 122,000 | |
| Cash flow used for investing activities | ||
| Cash payment for purchase of land | - 150,000 | |
| Cash flow from financing activities | ||
| Cash received from issuing common stock | 40,000 | |
| Cash dividends | - 10,000 | 30,000 |
| Net cash flow from financing activities | 2,000 | |
| Cash as of June 1 , 2017 | 50,000 | |
| Cash as of May 31, 2018 | 52,000 |
Please Rate.
Add Answer to:
answers for the red x's
$880,000 40,000 Cash receipts: Cash received from customers Cash received from...
Cash and cash equivalents balance, December 31, 2016 Cash and cash equivalents balance, December 31, 2017...
Cash and cash equivalents balance, December 31, 2016 Cash and cash equivalents balance, December 31, 2017 Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Cash received in exchange for six-month note payable Land purchased by issuing long-term note payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received...
D’Lite Dry Cleaners is owned and operated by Joel Palk. A building and equipment are currently...
D’Lite Dry Cleaners is owned and operated by Joel Palk. A building and equipment are currently being rented, pending expansion to new facilities. The actual work of dry cleaning is done by another company at wholesale rates. The assets, liabilities, and common stock of the business on July 1, 2018, are as follows: Cash, $45,000; Accounts Receivable, $93,000; Supplies, $7,000; Land, $75,000; Accounts Payable, $40,000; Common Stock, $60,000. Business transactions during July are summarized as follows: A. Joel Palk invested...
Cash received from customers 100,000 Cash paid as taxes 20,000 Cash received as interest revenue 1,000...
Cash received from customers 100,000 Cash paid as taxes 20,000 Cash received as interest revenue 1,000 Cash paid to employees as salary 6,000 Cash paid to purchase new truck 24,000 Cash paid to purchase inventory 34,000 Cash (beginning balance) 86,000 Cash received from issuing capital stock 32,000 Cash received from selling old truck 8,000 Cash paid to retire long-term debt 18,000 Capital stock issued in exchange of land 14,800 COGS 43,000 Enter your answer below Cash from Operations Cash from...
Classify the following cash flows as either operating, investing, or financing 1. Received cash payments from...
Classify the following cash flows as either operating, investing, or financing 1. Received cash payments from customers. 2. Paid cash for wages and salaries. 3. Received cash interest on a note. 4. Paid cash for property taxes on building 5. Paid cash for utilities. 6. Paid cash for rent. 7. Received cash from sale of land. 8. Received cash from sale of equipment. 9. Received cash from long-term debt issuance. 10. Received cash from short-term debt issuance. Operating activities Investing...
Required information [The following information applies to the questions displayed below) The following Cash T-account shows...
Required information [The following information applies to the questions displayed below) The following Cash T-account shows the total debits and total credits to the Cash account of Thomas Corporation for the current year. $ Balance, Dec. 31, prior year Receipts from customers Receipts from dividends Receipts from land sale Receipts from machinery sale Receipts from issuing stock Receipts from borrowing Cash 182.600 8.034.400 Payments for inventory 2,812.040 Payments for wages 2.972. 728 Payments for rent 948.059 Payments for interest 2.064.841...
Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of...
Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purchase land. 3. Borrowed $20,000 cash. 4. Provided services for $60,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $40,000 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $25,000. Remuired innts in b-4. b-3....
Statement of Cash Flows Month Ended December 31, 2015 Cash flows from Operating activities Receipts: Collections...
Statement of Cash Flows Month Ended December 31, 2015 Cash flows from Operating activities Receipts: Collections from customers 5100 Payments. For rent -1500 For salanes -1500 For utilities -300 -330D Net cash provided (used) by operating activities 1800 Cash flows from investing activities Acquisition of Land -20000 Net cash provided (used) by investing activities Cash flows from financing activities Owner contribution 81000 Owner withdrawal Net cash provided (used) by financing activities Net increase (decrease in cash Cash balance, December 1,...
After its first month of operations, the following amounts were taken from the accounting records of...
After its first month of operations, the following amounts were taken from the accounting records of Big Mountain Realty Inc. as of June 30, 20Y9. Cash $ 43,000 Notes payable $50,000 Common stock 75,000 Rent expense 8,000 Dividends 2,000 Retained earnings 0 Interest expense 300 Salaries expense 50,000 Land 100,000 Sales commissions 90,000 Miscellaneous expense 1,700 Utilities expense 10,000 Prepare a statement of cash flows for the month ending June 30, 20Y9. Use the minus sign to indicate cash out...
QUESTION 5 (Points 30) 5. The accounting staff of Sparks INC has assembled the following information...
QUESTION 5 (Points 30)
5. The accounting staff of Sparks INC has assembled the
following information for the year ended December 31, 2019:
5.1. Prepare a statement of cash flows in the format Example
below (Allison corporation) Place brackets around amounts
representing cash outflows. Use the direct method of reporting cash
flows from operating activities.
5.2. Some of the items above will be listed in your statement
without change. However, you will have to combine certain given
information to compute...
Required Information [The following information applies to the questions displayed below.] Mark's Consulting experienced the following...
Required Information [The following information applies to the questions displayed below.] Mark's Consulting experienced the following transactions for 2018, Its first year of operations, and 2019. Assume that all transactions involve the receipt or payment of cash. Transactions for 2018 1. Acquired $80,000 by Issuing common stock. 2. Received $130,000 cash for providing services to customers. 3. Borrowed $21,000 cash from creditors. 4. Pald expenses amounting to $54,000. 5. Purchased land for $40,000 cash. Transactions for 2019 Beginning account balances...
Cash and cash equivalents balance, December 31, 2016 Cash and cash equivalents balance, December 31, 2017 Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Cash received in exchange for six-month note payable Land purchased by issuing long-term note payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received...
Classify the following cash flows as either operating, investing, or financing 1. Received cash payments from customers. 2. Paid cash for wages and salaries. 3. Received cash interest on a note. 4. Paid cash for property taxes on building 5. Paid cash for utilities. 6. Paid cash for rent. 7. Received cash from sale of land. 8. Received cash from sale of equipment. 9. Received cash from long-term debt issuance. 10. Received cash from short-term debt issuance. Operating activities Investing...
Required information [The following information applies to the questions displayed below) The following Cash T-account shows the total debits and total credits to the Cash account of Thomas Corporation for the current year. $ Balance, Dec. 31, prior year Receipts from customers Receipts from dividends Receipts from land sale Receipts from machinery sale Receipts from issuing stock Receipts from borrowing Cash 182.600 8.034.400 Payments for inventory 2,812.040 Payments for wages 2.972. 728 Payments for rent 948.059 Payments for interest 2.064.841...
Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purchase land. 3. Borrowed $20,000 cash. 4. Provided services for $60,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $40,000 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $25,000. Remuired innts in b-4. b-3....
Statement of Cash Flows Month Ended December 31, 2015 Cash flows from Operating activities Receipts: Collections from customers 5100 Payments. For rent -1500 For salanes -1500 For utilities -300 -330D Net cash provided (used) by operating activities 1800 Cash flows from investing activities Acquisition of Land -20000 Net cash provided (used) by investing activities Cash flows from financing activities Owner contribution 81000 Owner withdrawal Net cash provided (used) by financing activities Net increase (decrease in cash Cash balance, December 1,...
QUESTION 5 (Points 30)
5. The accounting staff of Sparks INC has assembled the
following information for the year ended December 31, 2019:
5.1. Prepare a statement of cash flows in the format Example
below (Allison corporation) Place brackets around amounts
representing cash outflows. Use the direct method of reporting cash
flows from operating activities.
5.2. Some of the items above will be listed in your statement
without change. However, you will have to combine certain given
information to compute...
Required Information [The following information applies to the questions displayed below.] Mark's Consulting experienced the following transactions for 2018, Its first year of operations, and 2019. Assume that all transactions involve the receipt or payment of cash. Transactions for 2018 1. Acquired $80,000 by Issuing common stock. 2. Received $130,000 cash for providing services to customers. 3. Borrowed $21,000 cash from creditors. 4. Pald expenses amounting to $54,000. 5. Purchased land for $40,000 cash. Transactions for 2019 Beginning account balances...
Most questions answered within 3 hours.
-
An instructor's reference to a basketball player's defensive
performance as "outstanding" is an example of __________...
asked 12 minutes ago -
What is the quoted price of a bond that has 8 years until
maturity? The face...
asked 8 minutes ago -
Leave thourough feedback for this comment please.
A project management should posses the following communication
skills:...
asked 12 minutes ago -
There are 3 models that generate 3 below predicted values for
CAD
Model1: $1.00
Model2: $1.112...
asked 16 minutes ago -
Please note this is a question for my midterm so answer
seriously and make sure it...
asked 21 minutes ago -
Conduct a search of "the difference between marketing strategy
and tactics" and scan the results. Select...
asked 26 minutes ago -
what could be done to increase the likelihood of transfer of
training if the work environment...
asked 27 minutes ago -
Consider the following argument: It’s too hot or it’s too cold.
If it’s too cold, I’ll...
asked 28 minutes ago -
Steve's Specialties, Inc. paid its dividend yesterday, which as
$ 3.00. The dividend has been growing...
asked 43 minutes ago -
We are trying to decide a warehouse location to minimize our
costs of moving supplies to...
asked 43 minutes ago -
Create a SWOT Analyst diagram on topic Disaster Recovery Plan
for an commercial business.
asked 42 minutes ago -
How do we make sure that our professional judgment as an auditor
is "free" from bias?
asked 1 hour ago