Homework Answers
Answer-
| MERRICK EQUIPMENT CO. | ||
| STATEMENT OF CASH FLOWS (USING INDIRECT METHOD) | ||
| FOR THE YEAR ENDED 31 DECEMBER 20Y9 | ||
| Particulars | Amount | |
| $ | ||
| Cash flow from operating activities | ||
| Net Income | 85340 | |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Adjustment for non cash effects | ||
| Depreciation | 9390 | |
| Gain on sale of investments | -20510 | |
| Change in operating assets & liabilities | ||
| Increase in accounts receivable | -9520 | |
| Increase in inventory | -12400 | |
| Increase in accounts payable | 13130 | |
| Decrease in accrued expenses payable | -5310 | |
| Net cash flow from operating activities (a) | 60120 | |
| Cash Flow from Investing activities | ||
| New equipment purchased | -81920 | |
| Investments sold | 141130 | |
| Land purchased | -166050 | |
| Net cash Flow from Investing activities (b) | -106840 | |
| Cash Flow from Financing activities | ||
| Cash dividends paid | ($48460+$9280-$11950) | -45790 |
| Common stock issued | 116290 | |
| Net cash Flow from Financing activities (c) | 70500 | |
| Net Change in cash c=a+b+c | 23780 | |
| Beginning cash balance | 292800 | |
| Closing cash balance | 316580 | |
Add Answer to:
Dec. 31, 2049 Dec. 31, 2018 Assets Cash $316,580 Accounts receivable (net) 114,680 $292,800 105,160 311,350...
Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 2049 Cash flows from...
Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 2049 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: $360,000 100,800 17,280 Depreciation Gain on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable Increase in inventories Increase in accounts payable 27,360 (36,000) (3,600) (2,400) Decrease in accrued expenses payable 5463,440 Net cash flow from operating activities Cash flows from investing activities:...
It says that the numbers for cash recieved from sale of investments, cash paid for purchase...
It says that the numbers for cash recieved from sale of
investments, cash paid for purchase of
land, cash paid for purchase of equipment, cash recieved from
sale of common stock and cash paid for dividends is inocrrect. Can
someone please check these?
Dec. 31, 2019 Dec. 31, 2018 Assets Cash $316,580 Accounts receivable (net) 114,680 323,750 $292,800 105,160 311,350 120,620 Inventories 0 166,050 Investments Land Equipment Accumulated depreciation-equipment 357,190 (83,620) $1,194,630 275,270 (74,230) $1,030,970 Total assets Liabilities and Stockholders'...
Championship Boxing, Inc. Statement of Cash Flows For the Year Ended December 31, 20Y8 Cash flows...
Championship Boxing, Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y8
Cash flows from (used for) operating activities:
Net income
$186,540
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
18,400
Gain on sale of investments
(50,000)
Changes in current operating assets and liabilities:
Increase in accounts receivable
(25,410)
Increase in inventories
(33,450)
Increase in accounts payable
41,130
Decrease in accrued expenses payable
(12,470)
Net cash flow from
operating activities
$124,740
Cash flows...
Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $244,930$229,680 82,490 244,240 94,620 88,730 250,480 128,470 215,930 700)(58,230) $924...
Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $244,930$229,680 82,490 244,240 94,620 88,730 250,480 128,470 215,930 700)(58,230) $924,260 $808,730 276,350 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $167,290 $159,320 21,030 7,280 39,630 109,990 471,480 $924,260 $808,730 16,640 9,240 49,910 187,620 493,560 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in...
Ch 16-3 Exercises and Problems eBook Show Me How Calculator Print Item Statement of Cash Flows-Indirect...
Ch 16-3 Exercises and Problems eBook Show Me How Calculator Print Item Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2088, is as follows: Dec 31, 2049 Dec. 31, 2018 Assets Cash $237,780 Accounts receivable (net) Inventories 86,140 243,170 $224,000 80,450 238,190 92,280 Investments Land Equipment Accumulated depreciation-equipment 124,720 268,290 (62,810) $897,290 210,590 (56,790) $788,720 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable $162,410 16,150...
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Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31,...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2049 and 20Y8, is as follows: Dec. 31, 2049 Dec. 31, 2048 Assets Cash $227,500 Accounts receivable (net) $242,880 87,990 248,370 81,710 Inventories 241,900 93,720 Investments Land 127,400 Equipment 274,040 (64,160) 213,880 (57,670) Accumulated depreciation-equipment Total assets $916,520 $801,040 Liabilities and Stockholders' Equity Accounts payable $157,800 $165,890 16,500 20,830 Accrued expenses payable Dividends payable 9,170 7,210 Common stock, $10 par 49,490 39,250 Paid-in capital:...
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Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 2049 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: $360,000 100,800 17,280 Depreciation Gain on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable Increase in inventories Increase in accounts payable 27,360 (36,000) (3,600) (2,400) Decrease in accrued expenses payable 5463,440 Net cash flow from operating activities Cash flows from investing activities:...
It says that the numbers for cash recieved from sale of
investments, cash paid for purchase of
land, cash paid for purchase of equipment, cash recieved from
sale of common stock and cash paid for dividends is inocrrect. Can
someone please check these?
Dec. 31, 2019 Dec. 31, 2018 Assets Cash $316,580 Accounts receivable (net) 114,680 323,750 $292,800 105,160 311,350 120,620 Inventories 0 166,050 Investments Land Equipment Accumulated depreciation-equipment 357,190 (83,620) $1,194,630 275,270 (74,230) $1,030,970 Total assets Liabilities and Stockholders'...
Championship Boxing, Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y8
Cash flows from (used for) operating activities:
Net income
$186,540
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
18,400
Gain on sale of investments
(50,000)
Changes in current operating assets and liabilities:
Increase in accounts receivable
(25,410)
Increase in inventories
(33,450)
Increase in accounts payable
41,130
Decrease in accrued expenses payable
(12,470)
Net cash flow from
operating activities
$124,740
Cash flows...
Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $244,930$229,680 82,490 244,240 94,620 88,730 250,480 128,470 215,930 700)(58,230) $924,260 $808,730 276,350 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $167,290 $159,320 21,030 7,280 39,630 109,990 471,480 $924,260 $808,730 16,640 9,240 49,910 187,620 493,560 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in...
Ch 16-3 Exercises and Problems eBook Show Me How Calculator Print Item Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2088, is as follows: Dec 31, 2049 Dec. 31, 2018 Assets Cash $237,780 Accounts receivable (net) Inventories 86,140 243,170 $224,000 80,450 238,190 92,280 Investments Land Equipment Accumulated depreciation-equipment 124,720 268,290 (62,810) $897,290 210,590 (56,790) $788,720 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable $162,410 16,150...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 2041, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $128 Accounts receivable (net) Inventories Land Equipment Accumulated depreciation-equipment (16) Total Assets $395 $269 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Paid-in capital: Excess of issue price over par- common stock Retained earnings 244 Total liabilities and stockholders' equity $395 The following additional...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2049 and 20Y8, is as follows: Dec. 31, 2049 Dec. 31, 2048 Assets Cash $227,500 Accounts receivable (net) $242,880 87,990 248,370 81,710 Inventories 241,900 93,720 Investments Land 127,400 Equipment 274,040 (64,160) 213,880 (57,670) Accumulated depreciation-equipment Total assets $916,520 $801,040 Liabilities and Stockholders' Equity Accounts payable $157,800 $165,890 16,500 20,830 Accrued expenses payable Dividends payable 9,170 7,210 Common stock, $10 par 49,490 39,250 Paid-in capital:...
Pharoah Company Comparative Balance Sheets December 31 Assets 2022 $177,760 2021 $ 106,480 Cash Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 300 321,200 000 Common stock 484,000 385,000 Retained earnings 514,800 231,990 Total $1,501,500 $1,132,450 Pharoah Company Income Statement Data For the...
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