ZuoTi.Pro
Question

Kimmel, Accounting, 6e Help I System Announcements Tamarisk Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 2017 66,150 37,800 37,800 52,920 2016 26,460 37,800 147,420 113,400 (60,480) (45,360) $209,790 $204,120 Liabilities and Stockholders Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $35,910 13,230 32,130 34,020 94,500 $ 28,350 15,120 62,370 26,460 71,820 $209,790 $%204,120 Tamarisk Company Income Statement For the Year Ended December 31, 2017 Sales revenue $457,380 330,750 Cost of goods sold 18
Kimmel, Accounting, 6e Help I System Announcements Total $209,790 $204,120 Tamarisk Company Income Statement For the Year Ended December 31, 2017 $457,380 330,750 126,630 Sales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense $34,020 11,340 45,360 81,270 5,670 75,600 15,120 60,480 Net income Additional data: 1. Depreciation expense was $33,075. 2. Dividends declared and paid were $37,800. 3. During the year equipment was sold for $16,065 cash. This equipment cost $34,02 Your answer is partially correct. Try again. 18
Kimmel, Accounting, 6e Help I System Announcements Prepare a statement of cash flows using the indirect method. (Show amounts that decreas (15,000).) Tamarisk Company Statement of Cash Flows 60480 Adjustments to reconcile net income to 33075 -11340 -15120 7560 1890 12285 18
Kimmel, Accounting, 6e Help I System Announcements -1890 12285 72765 16065 -30240 -37800 7560 -60480 28350 18 2
Kimmel, Accounting, 6e Help I System Announcements 7560 -60480 28350 37800 66150 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT The parts of this question must be completed in order. This part will be available when yo 18
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Cash flow statement (Indirect Method):

Statement Cash Flows Cash Flows from Operating Activities: Net Income Adjustments to reconcile net income to Amoun( S) Amoun( 60,480 33,075 11,340 15,120 7,560 1,890 reciation Increase in Accounts Receivable ($37,800 $26,460 Increase in Inventory ($52,920- $37,800 Increase in Accounts Payable ($35.910 $28,350 Decrease in tax liab $15,120 - $13,230 12,285 72,765 Net cash provided from Operating activities Cash flows from Financing activities: Sale of Cash flow from Finance activities: Repayment of bonds ($62.370 $32,130 Dividends Paid Issue of Common stock ($34,020 $26,460 Net cash used in Financing Activities Net increas in cash Add: Beginning cash balance Closing cash balance ent ($147,420 $113,400 16,065 30,240 37,800 7,560 60,480 28,350 37,800 66,120

0 0
Add a comment
Know the answer?
Add Answer to:
Kimmel, Accounting, 6e Help I System Announcements Tamarisk Company Comparative Balance Sheets December 31 Assets Cash...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • survey of accounting Paul d kimmel Kimmel, Survey of Accounting, le Help System Announcements Practice Exercise...

    survey of accounting Paul d kimmel Kimmel, Survey of Accounting, le Help System Announcements Practice Exercise 1 This information relates to Wildhorse Co. for the year 2017. $89,780 8,040 Retained earnings, January 1, 2017 Advertising expense Dividends Rent expense Service revenue Utilities expense Salaries and wages expense 13,936 After analyzing the data, prepare an income statement for the year ending December 31, 2 Wildhorse Co. Income Statement SHOW LIST OF ACCOUNTS LINK TO TEXT After analyzing the data, prepare a...

  • Kimmel, Accounting, 6e Help I System Announcements Problem 10-3A Your answer is partially correct. Try again....

    Kimmel, Accounting, 6e Help I System Announcements Problem 10-3A Your answer is partially correct. Try again. The following section is taken from Hardesty's balance sheet at December 31, 2016. Current liabilities Interest payable $ 40,000 Long-term liabilities 500,000 Bonds payable (896, due January 1, 2020) Interest is payable annually on January 1. The bonds are callable on any annual interest date. (a) Journalize the payment of the bond interest on January 1, 2017. (b) Assume that on January 1, 2017,...

  • euucll.wipuu.com II U Kimmel, Accounting, 6e Help System Announcements Problem 13-5A Suppose selected financial data of...

    euucll.wipuu.com II U Kimmel, Accounting, 6e Help System Announcements Problem 13-5A Suppose selected financial data of Target and Wal-Mart for 2017 are presented here (in millions). Target Corporation Wal-Mart Stores, Income Statement Data for Year Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income $66,700 46,000 14,700 650 (95) 1,400 $ 3,855 $409,000 306,000 76,000 1,800 (420) 7,200 $ 17,580 Current assets Noncurrent assets Total assets Current liabilities Long-term...

  • Kimmel, Accounting, 7e IS Help I System Announcements Practice Question 01 The operating cycle of a...

    Kimmel, Accounting, 7e IS Help I System Announcements Practice Question 01 The operating cycle of a merchandising company is ordinarily shorter than that of a service company. O True O False Click if you would like to Show Work for this question: Open Show Work 11 LINK TO TEXT Type here tosearch

  • Kimmel, Accounting, 6e Help I System Announcements CALCULATOR??pRINTER VERSIONI : 4EACK Brooks Clinic is considering investing...

    Kimmel, Accounting, 6e Help I System Announcements CALCULATOR??pRINTER VERSIONI : 4EACK Brooks Clinic is considering investing in new heart-m oring equipment. It has two options. Option A would have an initial cost but would require a significant expenditure for rlding after 4 years. Option B would require no rebuilding expenditure, but its maintenance costs would be higher. Since the Option B machine is of initial higher quality, it is expected to have a salvage value at the end of its...

  • edugen.wileyplus.com WileyPLUS Calculator I Kimmel, Financial Accounting, 8e Help System Announcements CALCULATOR P...

    edugen.wileyplus.com WileyPLUS Calculator I Kimmel, Financial Accounting, 8e Help System Announcements CALCULATOR PRINTER VERSION 4 BACK NEXT Brief Exercise 9-6 On January 1, 2017, the Pharoah Company ledger shows Equipment $49,100 and Accumulated Depreciation $18,520. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $2,800. On this date, the company concludes that the equipment has a remaining useful life of only 2 years with the same salvage value. Compute...

  • Kimmel, Accounting, 7e Help | System Announcements Problem 13-02A The comparative statements of Blossom Company are...

    Kimmel, Accounting, 7e Help | System Announcements Problem 13-02A The comparative statements of Blossom Company are presented here. 2021 $1,785,000 1,046,240 BLOSSOM COMPANY Income Statements For the Years Ended December 31 2022 Net sales $1,919,400 Cost of goods sold 1,067,000 Gross profit 852,400 Selling and administrative expenses 520,000 Income from operations 332,400 Other expenses and losses Interest expense 22,880 Income before income taxes 309,520 Income tax expense 92,856 Net income $ 216,664 738,760 498,160 240,600 20,800 219,800 65,940 $ 153,860...

  • S Kimmel, Financial Accounting, Se Help I System Announcements PRINTER VERSION NEXT CALCULATOR BACK Brief Exercise...

    S Kimmel, Financial Accounting, Se Help I System Announcements PRINTER VERSION NEXT CALCULATOR BACK Brief Exercise 9-1 Your answer is incorrect. Try again. These expenditures were incurred by Crane Company in purchasing land: cash price $59,370, assumed accrued property taxes $4,580, attorney's fees $2,190, real estate broker's commission $3,810, and clearing and grading $4,980. What is the cost of the land? The cost of the land LINK TO TEXT INTERACTIVE TUTORIAL

  • US Kimmel, Accounting, 6e Help System Announcements mapter 14 view 14-1 14-2 14-4 rcise 14-10 cise...

    US Kimmel, Accounting, 6e Help System Announcements mapter 14 view 14-1 14-2 14-4 rcise 14-10 cise 14-9 wiew 14-3 cise 14-8 14-4 (Part mission) 4-3A (Part mission) Brief Exercise 14-9 Presented below are incomplete manufacturing cost data. Determine the missing amounts for three different situations. Direct Direct Total Materials Labor Factory Manufacturing Used Used Overhead Costs (1) $42,400 $65,000 $51,800 (2) $ $76,000 $142,000 $299,000 (3) $58,300 $115,000 $314,000 Click if you would like to Show Work for this question:...

  • I Kimmel, Financial Accounting, Be Help System Announcements Brief Exercise 10-10 Your answer is partially correct....

    I Kimmel, Financial Accounting, Be Help System Announcements Brief Exercise 10-10 Your answer is partially correct. Try again. Culver Corporation issued 2,800 9%, 7-year, $1,000 bonds dated January 1, 2017, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2017. (Credit account titles are automatically indented when amoun Date Account Titles and Explanation Debit Credit Jan. 1, 2017 Cash 2800 Bonds Payable 2800 (b) Prepare...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT