Homework Answers
Answer:
(A).Preparation of Cash flow statement of Riverbed Corp under direct method :
Cash flow from operating activities = $ 92,400
Cash flow from investing activities = $ 20,400
Cash flow from financing activities = $ (76,800)
Net increase in cash = $ 36,000
Add Opening Cash balance = $ 48,000
Closing cash balance as on Dec 31,2017 = $ 84,000
Working Notes:
1.Cash receipt from customers =
Sales + Opening Accounts receivable - Closing Accounts receivable
= 580,800 +33,600 - 48,000 = $566,400
2. Cash payment to suppliers =
Purchases + Opening accounts payable - Closing accounts payable
= 439,200 + 36,000 - 45,600 = $ 429,600
[Purchase = Cost of goods sold + Closing inventory - opening inventory = 420,000 + 67,200 - 48,000 = $439,200]
3. Operating expenses =
Selling expenses + Administrative expenses - Depreciation expense
= 43,200 + 14,400 - 42,000 = $ 15,600
4. Cash payment for income tax expenses =
Income tax expense + opening income tax payable - Closing income tax payable
= 19,200 + 19,200 -16,800 = $ 21,600
5. Redemption of bonds = 79,200 - 40,800 = $38,400
6. Issuance of common stock = 43,200 - 33,600 = $9,600
(B). Calculation of free cash flow
Free Cash Flow =
Net cash flow from operating activities - Capital expenditure - Dividend paid in cash
= $ 92,400 - 0 - 48,000 = $ 44,400
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Presented below are the financial statements of Blossom
Company.
Blossom Company
Comparative Balance Sheets
December 31
Assets
2022
2021
Cash
$ 98,000
$ 56,000
Accounts receivable
56,000
39,200
Inventory
78,400
56,000
Property, plant, and equipment
168,000
218,400
Accumulated depreciation
(89,600
)
(67,200
)
Total
$310,800
$302,400
Liabilities and Stockholders’ Equity
Accounts payable
$ 53,200
$ 42,000
Income taxes payable
19,600
22,400
Bonds payable
47,600
92,400
Common stock
50,400
39,200
Retained earnings
140,000
106,400
Total
$310,800
$302,400
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Income Statement...
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need
this ASAP please!
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Presented below are the financial statements of Blossom
Company.
Blossom Company
Comparative Balance Sheets
December 31
Assets
2022
2021
Cash
$ 98,000
$ 56,000
Accounts receivable
56,000
39,200
Inventory
78,400
56,000
Property, plant, and equipment
168,000
218,400
Accumulated depreciation
(89,600
)
(67,200
)
Total
$310,800
$302,400
Liabilities and Stockholders’ Equity
Accounts payable
$ 53,200
$ 42,000
Income taxes payable
19,600
22,400
Bonds payable
47,600
92,400
Common stock
50,400
39,200
Retained earnings
140,000
106,400
Total
$310,800
$302,400
Blossom Company
Income Statement...
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need
this ASAP please!
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