Homework Answers
| Cash Flow Statement | ||||
| Indirect Method | ||||
| Cash flow from Operating Activities | ||||
| Net Income | $ 17,600.00 | |||
| Adjustments | ||||
| Depreciation | $ 47,400.00 | |||
| Gain on sale of Equipment | $ -5,000.00 | |||
| Change In current assets & Liabilities | ||||
| Decrease in Accounts Receivable | $ 33,200.00 | =202000-168800 | ||
| Decrease in inventories | $ 1,00,000.00 | =440000-340000 | ||
| Increase in Prepaid Rent | $ -1,000.00 | =3000-4000 | ||
| Decrease in Accounts payable | $ -61,000.00 | =129900-190900 | ||
| Increase in Income Tax Payable | $ 4,000.00 | =8600-4600 | ||
| Total Adjustments | $ 1,17,600.00 | |||
| Cash from operating activities | $ 1,35,200.00 | |||
| Cash flow from Investing Activities | ||||
| Sale of Equipment | $ 13,400.00 | =34800-26400+5000 | ||
| Purchase of Equipment | $ -37,800.00 | |||
| Cash used in investing activities | $ -24,400.00 | |||
| Cash flow from Financing Activities | ||||
| Issue of Notes Payable | $ 32,000.00 | |||
| Repaid Notes Payable | $ -16,000.00 | |||
| Dividend Paid | $ -5,000.00 | |||
| Cash from financing activities | $ 11,000.00 | |||
| Net Increase in cash | $ 1,21,800.00 | |||
| Opening Balance of Cash | $ 45,000.00 | |||
| Closing Balance of Cash | $ 1,66,800.00 |
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Please help !
Stephanie Ram Corporation Income Statement For the Year Ended March 31, 2016 $1,920,500...
i need a statement of cash flows with this information :) ACC 113 Project 1A Stephanie...
i need a statement of cash flows with this information
:)
ACC 113 Project 1A Stephanie Ram Corporation's Income Statement for the year ended March 31, 2016, and its Comparative Balance Sheel Stephanie Ram Corporation Income Statement For the Year Ended March 31, 2016 $1,920,500 Sales 1,435,300 $485,200 Cost of goods sold Gross margin Operating expenses: Salaries expense Depreciation expense All other operating expense $124,400 47,400 273,200 445,000 40,200 Total operating expense Income from operations other income/(expenses) Gain on sale...
Wildhorse Company’s income statement for the year ended December 31, 2017, contained the following condensed information...
Wildhorse Company’s income statement for the year ended December
31, 2017, contained the following condensed information.
Service revenue
$836,000
Operating expenses (excluding depreciation)
$626,000
Depreciation expense
60,000
Loss on sale of equipment
26,000
712,000
Income before income taxes
124,000
Income tax expense
40,000
Net income
$84,000
Wildhorse’s balance sheet contained the following comparative data
at December 31.
2017
2016
Accounts receivable
$38,000
$53,000
Accounts payable
41,000
30,000
Income taxes payable
4,100
8,400
(Accounts payable pertains to operating expenses.)
Prepare the...
Sunland Corporation had the following activities in 2017. Concord Company’s income statement for the year ended...
Sunland Corporation had the following activities in
2017.
Concord Company’s income
statement for the year ended December 31, 2017, contained the
following condensed information.
Service revenue
$843,000
Operating expenses (excluding
depreciation)
$622,000
Depreciation expense
60,000
Loss on sale of
equipment
26,000
708,000
Income before income
taxes
135,000
Income tax expense
40,000
Net income
$95,000
Concord’s balance sheet contained the following comparative data at
December 31.
2017
2016
Accounts receivable
$36,000
$55,000
Accounts payable
43,000
33,000
Income taxes payable
4,200
8,200...
Attempt 1 of 1 co ACC 113 Project 1A Stephanie Ram Corporation's Income Statement for the...
Attempt 1 of 1 co ACC 113 Project 1A Stephanie Ram Corporation's Income Statement for the year ended March 31, 2016, and its Comparative Balance Sheets as of March 31, 2016 and 2015 are as follows: Stephanie Ram Corporation Income Statement For the Year Ended March 31, 2016 Sales Cost of goods sold Gross margin Operating expenses $1,926,500 1,431,300 $495,200 Salaries expense $127,000 49,400 271,200 Depreciation expense All other operating expense Total operating expense Income from operations 447,600 47,600 ecincome/(expenses...
Carlson Corporation accountants assembled the following data for the year ended December 31, 2016 (Click the...
Carlson Corporation accountants assembled the following data for the year ended December 31, 2016 (Click the icon to view the current accounts.) iData Table Requirement 1. Prepare Carlson Corporation's statement of cash flows usi financing activities on an accompanying schedule Complete the statement one section at a time, beginning with t numbers to be subtracted.) Carlson Corporation December 31 Current assets: Cash and cash equivalents Accounts receivable 2016 2015 Carlson Co Statement of Year Ended Dece $ 77,800 $ 20,000...
WileyPLUS Problem 5-10 a (Indirect Method) The income statement of Tamache Corporation is shown below: TAMACHE CORPOR...
WileyPLUS Problem 5-10 a (Indirect Method)
The income statement of Tamache Corporation is shown below:
TAMACHE CORPORATION
Statement of Income
Year Ended December 31, 2020
Sales revenue
$7,216,000
Cost of goods sold
4,400,000
Gross profit
2,816,000
Operating expenses
$1,469,600
Depreciation expense
70,400
1,540,000
Profit before income tax
$1,276,000
Income tax expense
446,600
Net income
$829,400
Additional information:
1.
Accounts receivable decreased $264,000 during the year.
2.
Prepaid expenses increased $176,000 during the year.
3.
Inventory decreased $352,000 during the year....
1) The net income for Shepherd Corporation was $80,433 for the year ended December 31, 2016....
1) The net income for Shepherd Corporation was $80,433 for the year ended December 31, 2016. Related information follows: Depreciation of equipment 10,620 Loss on the sale of land 3,947 Cash dividends paid 13,246 Increase in accounts receivable 15,250 Decrease in salaries payable 11,312 Increase in long-term notes payable 12,054 Sale of preferred stock for cash 5,964 Cash flows from operating activities during 2016 should be reported as:__________ 2) If sales revenue is $104,739 and accounts receivable decreased by $11,199,...
hello please help! Statement of Cash Flows-Indirect Method The following balances are available for Chrisman Company:...
hello please help!
Statement of Cash Flows-Indirect Method The following balances are available for Chrisman Company: Cash Accounts receivable Inventory Prepaid rent Land Plant and equipment Accumulated depreciation Totals December 31 2017 2016 $8,600 $10,800 21,500 16,100 17,100 28,600 9,700 6,500 80,600 80,600 430,000 322,500 (69,900) (32,300) $497,600 $432,800 Accounts payable Income taxes payable Short-term notes payable Bonds payable Common stock Retained earnings Totals $12,900 3,200 37,600 81,000 215,000 147,900 $497,600 $10,800 5,400 26,900 108,000 161,300 120,400 $432,800 Bonds were...
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...
Bandit Corporation Income Statement For the Year Ended December 31, 2019 Revenues - Part 5 Operating...
Bandit Corporation Income Statement For the Year Ended December 31, 2019 Revenues - Part 5 Operating Expenses Depreciation Expense 6.580,000 5.391.225 Loss on Sale of Machinery 315,000 Total Expenses 40.000 Income before Taxes 5.751.225 Income Tax Expense 621,775 Net Income 310,000 Bandit Corporation Partial Balance Sheet 12/ 31/2018 12/31/2019 Cash Increase (Decreas) 672,000 980.775 308.775 Accounts Receivable 775,000 615,000 (160,000) Inventory 834,000 913,000 79.000 Machinery 1,750,000 2,067,000 317,000 Land 175,000 175,000 Accounts Payable 521,000 579,000 58,000 Bonds Payable 150,000 60,000...
i need a statement of cash flows with this information
:)
ACC 113 Project 1A Stephanie Ram Corporation's Income Statement for the year ended March 31, 2016, and its Comparative Balance Sheel Stephanie Ram Corporation Income Statement For the Year Ended March 31, 2016 $1,920,500 Sales 1,435,300 $485,200 Cost of goods sold Gross margin Operating expenses: Salaries expense Depreciation expense All other operating expense $124,400 47,400 273,200 445,000 40,200 Total operating expense Income from operations other income/(expenses) Gain on sale...
Wildhorse Company’s income statement for the year ended December
31, 2017, contained the following condensed information.
Service revenue
$836,000
Operating expenses (excluding depreciation)
$626,000
Depreciation expense
60,000
Loss on sale of equipment
26,000
712,000
Income before income taxes
124,000
Income tax expense
40,000
Net income
$84,000
Wildhorse’s balance sheet contained the following comparative data
at December 31.
2017
2016
Accounts receivable
$38,000
$53,000
Accounts payable
41,000
30,000
Income taxes payable
4,100
8,400
(Accounts payable pertains to operating expenses.)
Prepare the...
Sunland Corporation had the following activities in
2017.
Concord Company’s income
statement for the year ended December 31, 2017, contained the
following condensed information.
Service revenue
$843,000
Operating expenses (excluding
depreciation)
$622,000
Depreciation expense
60,000
Loss on sale of
equipment
26,000
708,000
Income before income
taxes
135,000
Income tax expense
40,000
Net income
$95,000
Concord’s balance sheet contained the following comparative data at
December 31.
2017
2016
Accounts receivable
$36,000
$55,000
Accounts payable
43,000
33,000
Income taxes payable
4,200
8,200...
Attempt 1 of 1 co ACC 113 Project 1A Stephanie Ram Corporation's Income Statement for the year ended March 31, 2016, and its Comparative Balance Sheets as of March 31, 2016 and 2015 are as follows: Stephanie Ram Corporation Income Statement For the Year Ended March 31, 2016 Sales Cost of goods sold Gross margin Operating expenses $1,926,500 1,431,300 $495,200 Salaries expense $127,000 49,400 271,200 Depreciation expense All other operating expense Total operating expense Income from operations 447,600 47,600 ecincome/(expenses...
Carlson Corporation accountants assembled the following data for the year ended December 31, 2016 (Click the icon to view the current accounts.) iData Table Requirement 1. Prepare Carlson Corporation's statement of cash flows usi financing activities on an accompanying schedule Complete the statement one section at a time, beginning with t numbers to be subtracted.) Carlson Corporation December 31 Current assets: Cash and cash equivalents Accounts receivable 2016 2015 Carlson Co Statement of Year Ended Dece $ 77,800 $ 20,000...
WileyPLUS Problem 5-10 a (Indirect Method)
The income statement of Tamache Corporation is shown below:
TAMACHE CORPORATION
Statement of Income
Year Ended December 31, 2020
Sales revenue
$7,216,000
Cost of goods sold
4,400,000
Gross profit
2,816,000
Operating expenses
$1,469,600
Depreciation expense
70,400
1,540,000
Profit before income tax
$1,276,000
Income tax expense
446,600
Net income
$829,400
Additional information:
1.
Accounts receivable decreased $264,000 during the year.
2.
Prepaid expenses increased $176,000 during the year.
3.
Inventory decreased $352,000 during the year....
hello please help!
Statement of Cash Flows-Indirect Method The following balances are available for Chrisman Company: Cash Accounts receivable Inventory Prepaid rent Land Plant and equipment Accumulated depreciation Totals December 31 2017 2016 $8,600 $10,800 21,500 16,100 17,100 28,600 9,700 6,500 80,600 80,600 430,000 322,500 (69,900) (32,300) $497,600 $432,800 Accounts payable Income taxes payable Short-term notes payable Bonds payable Common stock Retained earnings Totals $12,900 3,200 37,600 81,000 215,000 147,900 $497,600 $10,800 5,400 26,900 108,000 161,300 120,400 $432,800 Bonds were...
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...
Bandit Corporation Income Statement For the Year Ended December 31, 2019 Revenues - Part 5 Operating Expenses Depreciation Expense 6.580,000 5.391.225 Loss on Sale of Machinery 315,000 Total Expenses 40.000 Income before Taxes 5.751.225 Income Tax Expense 621,775 Net Income 310,000 Bandit Corporation Partial Balance Sheet 12/ 31/2018 12/31/2019 Cash Increase (Decreas) 672,000 980.775 308.775 Accounts Receivable 775,000 615,000 (160,000) Inventory 834,000 913,000 79.000 Machinery 1,750,000 2,067,000 317,000 Land 175,000 175,000 Accounts Payable 521,000 579,000 58,000 Bonds Payable 150,000 60,000...
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