Homework Answers
| Transaction | Activity | Cash Flow |
| 1. Bought used equipment for cash. | I | - |
| 2. Paid cash to purchase new equipment. | I | - |
| 3. Declared and paid cash dividends to stockholders. | F | - |
| 4. Collected payments on account from customers. | O | + |
| 5. Recorded and paid interest on debt to creditors. | O | - |
| 6. Repaid principal on loan from bank. | F | - |
| 7. Prepaid rent for the following period. | O | - |
| 8. Made payment to suppliers on account. | O | - |
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PA12-1 Determining Cash Flow Statement Effects of Transactions [LO 12-11 Mouf Furniture is an Austin-based furniture...
Motif Furniture designs and sells modern furniture. For each of the following first-quarter transactions, indicate whether...
Motif Furniture designs and sells modern furniture. For each of the following first-quarter transactions, indicate whether operating (O), investing (), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-). Activity Cash Flow 1. Bought used equipment for cash 2 Paid cash to purchase new equipment 3. Declared and paid cash dividends to shareholders 4. Collected payments on account from customers 5. Recorded an adjusting entry to record accrued salaries expense Recorded...
Saved 7 PA12-3 Preparing a Statement of Cash Flows (Indirect Method) (LO 12-2, LO 12-3, LO...
Saved 7 PA12-3 Preparing a Statement of Cash Flows (Indirect Method) (LO 12-2, LO 12-3, LO 12-4, LO 12-5] XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: 15 points Current Year Previous Year Balance Sheet at December 31 Cash Skopped $ 29,000 $ 34,000 35,000 41,000 121,000 (30,000) $201,000 $ 36,000 1,200 38,000 88, 600...
pls help ?? PA12-3 Preparing a Statement of Cash Flows (Indirect Method) (LO 12-2, LO 12-3,...
pls help ??
PA12-3 Preparing a Statement of Cash Flows (Indirect Method) (LO 12-2, LO 12-3, LO 12-4, LO 12-5] XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Current Year Previous Year Balance Sheet at December 31 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment Total Assets Accounts Payable Salaries and Wages Payable Note Payable (long-term)...
PA12-4 Preparing and Interpreting a Statement of Cash Flows (Indirect Method) [LO 12-2, LO 12-3, LO...
PA12-4 Preparing and Interpreting a Statement of Cash Flows (Indirect Method) [LO 12-2, LO 12-3, LO 12- 4, LO 12-5) Heads Up Company was started several years ago by two hockey Instructors. The company's comparative balance sheets and income statement follow, along with additional Information Current Year Previous Year Balance Sheet at December 31 55,300 900 5.se (1,500) $11.200 S $4.ee 1.75e 5,000 1,250) $ 9.5 $ 1.ee 500 500 1,700 Accounts Receivable Equipment Accumulated Depreciation Equipment Total Assets Accounts...
PA12-3 Preparing a Statement of Cash Flows (Indirect Method) [LO 12-2, LO 12-3, LO 12-4, LO...
PA12-3 Preparing a Statement of Cash Flows (Indirect Method) [LO 12-2, LO 12-3, LO 12-4, LO 12-5] XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Current Year Previous Year Balance Sheet at December 31 Cash $ 32,330 $ 27,250 Accounts Receivable 33,400 27,200 Inventory 39,400 37,200 Equipment 109,000 92,000 Accumulated Depreciation—Equipment (28,400 ) (24,200 )...
Determining Financial Statement Effects of several transactions - M2-9 For each of the following transactions of...
Determining Financial Statement Effects of several transactions - M2-9 For each of the following transactions of Spotlighter, Inc., for the month of January, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided. (Enter any decreases to account balances with a minus sign.) (Sample) Borrowed $3940 from a local bank on a note due in six months. Received $4630 cash from investors and issued common stock to them. Purchased $1,000 in equipment, paying...
Exercise 12-1 Indirect: Cash flow classification LO C1 The following transactions and events occurred during the...
Exercise 12-1 Indirect: Cash flow classification LO C1 The following transactions and events occurred during the year. Assuming that this company uses the Indirect method to report cash provided by operating activities, indicate where each item would appear on its statement of cash flows by placing an X in the appropriate column(s). (More than one column may be used.) Statement of Cash Flows Investing&Not Reported g Financing Financing on Statement es Activities Activities or in Notes Operating Investing Financing Activities...
Problem 11: Consider each of the following independent events from Basar Co. In each case, state...
Problem 11: Consider each of the following independent events from Basar Co. In each case, state whether the event would increase cash flow, decrease cash flow, or leave cash flow unchanged. If cash flow increased or decreased, state whether that would affect operations, financing, or investing. a) The company paid creditors $250,000 b) The company bought inventory on credit for $50,000. c) The company repaid a long-term bank loan: $500,000 d) The company paid a dividend of $50,000 to the...
For each of the following transactions, indicate whether the cash flow is an operating, investing, or...
For each of the following transactions, indicate whether the cash flow is an operating, investing, or financing activity for purposes of preparing a statement of cash flows. In addition, be specific with respect to whether the activity leads to an inflow of cash or an outflow of cash from the company's perspective. A company pays salaries to employees. Choose... A company receives cash for services it will perform in the future. Choose... A company pays back the principal on a...
For Impact on Cash Flow column， please fill in Financing，Operation or Investing Indicate the effects of...
For Impact on Cash Flow
column， please fill in Financing，Operation or Investing
Indicate the effects of the transactions listed in the following table on total current assets, current ratio, net income and cash flow. Use (+) to indicate an increase, (-) to indicate a decrease, and (0) to indicate either no effect or an indeterminate effect. Be prepared to state any necessary assumptions and assume an initial current ratio of more than 1.0 Total Current Current Ratio Effect on Net...
Motif Furniture designs and sells modern furniture. For each of the following first-quarter transactions, indicate whether operating (O), investing (), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-). Activity Cash Flow 1. Bought used equipment for cash 2 Paid cash to purchase new equipment 3. Declared and paid cash dividends to shareholders 4. Collected payments on account from customers 5. Recorded an adjusting entry to record accrued salaries expense Recorded...
Saved 7 PA12-3 Preparing a Statement of Cash Flows (Indirect Method) (LO 12-2, LO 12-3, LO 12-4, LO 12-5] XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: 15 points Current Year Previous Year Balance Sheet at December 31 Cash Skopped $ 29,000 $ 34,000 35,000 41,000 121,000 (30,000) $201,000 $ 36,000 1,200 38,000 88, 600...
pls help ??
PA12-3 Preparing a Statement of Cash Flows (Indirect Method) (LO 12-2, LO 12-3, LO 12-4, LO 12-5] XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Current Year Previous Year Balance Sheet at December 31 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment Total Assets Accounts Payable Salaries and Wages Payable Note Payable (long-term)...
PA12-4 Preparing and Interpreting a Statement of Cash Flows (Indirect Method) [LO 12-2, LO 12-3, LO 12- 4, LO 12-5) Heads Up Company was started several years ago by two hockey Instructors. The company's comparative balance sheets and income statement follow, along with additional Information Current Year Previous Year Balance Sheet at December 31 55,300 900 5.se (1,500) $11.200 S $4.ee 1.75e 5,000 1,250) $ 9.5 $ 1.ee 500 500 1,700 Accounts Receivable Equipment Accumulated Depreciation Equipment Total Assets Accounts...
Exercise 12-1 Indirect: Cash flow classification LO C1 The following transactions and events occurred during the year. Assuming that this company uses the Indirect method to report cash provided by operating activities, indicate where each item would appear on its statement of cash flows by placing an X in the appropriate column(s). (More than one column may be used.) Statement of Cash Flows Investing&Not Reported g Financing Financing on Statement es Activities Activities or in Notes Operating Investing Financing Activities...
For each of the following transactions, indicate whether the cash flow is an operating, investing, or financing activity for purposes of preparing a statement of cash flows. In addition, be specific with respect to whether the activity leads to an inflow of cash or an outflow of cash from the company's perspective. A company pays salaries to employees. Choose... A company receives cash for services it will perform in the future. Choose... A company pays back the principal on a...
For Impact on Cash Flow
column， please fill in Financing，Operation or Investing
Indicate the effects of the transactions listed in the following table on total current assets, current ratio, net income and cash flow. Use (+) to indicate an increase, (-) to indicate a decrease, and (0) to indicate either no effect or an indeterminate effect. Be prepared to state any necessary assumptions and assume an initial current ratio of more than 1.0 Total Current Current Ratio Effect on Net...
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