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On January 1, Year 1, Moore, a fast-food company, had a balance in its Cash account...
On January 1, Year 1, Moore, a fast-food company, had a balance in its Cash account...
On January 1, Year 1, Moore, a fast-food company, had a balance in its Cash account of $54,000. During the Year 1 accounting period, the company had (1) net cash inflow from operating activities of $35,600, (2) net cash outflow for investing activities of $43,000, and (3) net cash outflow from financing activities of $24,500 Required a. Prepare a statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) $ 35,600 MOORE COMPANY Statement of...
On January 1, 2018, Moore, a fast-food company, had a balance in its Cash account of...
On January 1, 2018, Moore, a fast-food company, had a balance in its Cash account of $47,400. During the 2018 accounting period, the company had (1) net cash inflow from operating activities of $29,600, (2) net cash outflow for investing activities of $37,000, and (3) net cash outflow from financing activities of $18,500. Required a. Prepare a statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) 29,600 MOORE COMPANY Statement of Cash Flows For...
On January 1, Year 1, Moore, a fast-food company, had a balance in its Cash account...
On January 1, Year 1, Moore, a fast-food company, had a balance in its Cash account of $48,500. During the Year 1 accounting period, the company had (1) net cash inflow from operating activities of $30,600, (2) net cash outflow for investing activities of $38,000, and (3) net cash outflow from financing activities of $19,500. Required a. Prepare a statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.)
As of December 31, 2018, Moss Company had total cash of $153,000, notes payable of $85,300,...
As of December 31, 2018, Moss Company had total cash of $153,000, notes payable of $85,300, and common stock of $52,100. During 2019, Moss earned $33,000 of cash revenue, paid $18,500 for cash expenses, and paid a $2,700 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, 2018. b.&c. Record the beginning account balances, revenue, expense, and dividend events under the appropriate elements of the accounting equation. Complete this question by entering...
On January 1, 2016, Shelton Company had a balance of $260,500 in its Land account. During...
On January 1, 2016, Shelton Company had a balance of $260,500 in its Land account. During 2016 Shelton sold land that had cost $75,500 for $150,500 cash. The balance in the Land account on December 31, 2016, was $291,500. Required a. Determine the cash outflow for the purchase of land during 2016. Cash outflow for the purchase of land b. Prepare the investing activities section of the 2016 statement of cash flows. (Amounts to be deducted should be indicated with...
Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $1,840 million...
Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $1,840 million on July 1, 2021, at a price of $1,810 million. For bonds of similar risk and maturity, the market yleld is 10%. Interest is paid semi-annually on June 30 and December 31. Required: What would be the amount(s) related to the bonds that Agee would report In its statement of cash flows for the year ended December 31, 2021, If It uses the Indirect...
On January 1, Year 2, Shapiro Company paid $70,000 cash to purchase a truck. The truck...
On January 1, Year 2, Shapiro Company paid $70,000 cash to purchase a truck. The truck has a $10,000 salvage value and a five-year useful life. Assume that Shapiro earns $18,000 of cash revenue per year for Year 1 through Year 5 of the assets useful life. Shapiro began Year 2 with a beginning cash balance of $110,000. Required a. Determine the amount of net income for Year 2, Year 3, and Year 4. b. Determine the amount of accumulated...
Following is selected financial Information of Kla Company for the year ended December 31, 2019. Cash...
Following is selected financial Information of Kla Company for the year ended December 31, 2019. Cash used by investing activities Net increase in cash Cash used by financing activities Cash from operating activities Cash, December 31, 2018 $ (3,890) 800 (3,800) 7,600 3,600 Required: Prepare the 2019 year-end statement of cash flows for Kia Company. (Cash outflows should be indicated with a minus sign.) KIA COMPANY Statement of Cash Flows For Year Ended December 31, 2019
As of January 1, Year 2, Concepts Inc. had a balance of $4,500 in Cash and...
As of January 1, Year 2, Concepts Inc. had a balance of $4,500 in Cash and $2,500 in Common Stock, and $2,000 in Retained Earnings. These were the only accounts with balances at the beginning of Year 2. Further analysis of the company’s cash account indicated that during Year 2 the company had (1) net cash inflow from operating activities of $5,100, (2) net cash outflow for investing activities of $13,000, and (3) net cash inflow from financing activities of...
In preparation for developing its statement of cash flows for the year ended December 31, 2018,...
In preparation for developing its statement of cash flows for the year ended December 31, 2018, Millennium Solutions, Inc. collected the following information: ($ in millions) Payment for the early extinguishments of long-term notes (book value: $68.0 million) $ 72.0 Sale of common shares 216.0 Retirement of common shares 132.0 Loss on sale of equipment 3.0 Proceeds from sale of equipment 12.0 Issuance of short-term note payable for cash 20.0 Acquisition of building for cash 12.0 Purchase of marketable securities...
On January 1, Year 1, Moore, a fast-food company, had a balance in its Cash account of $54,000. During the Year 1 accounting period, the company had (1) net cash inflow from operating activities of $35,600, (2) net cash outflow for investing activities of $43,000, and (3) net cash outflow from financing activities of $24,500 Required a. Prepare a statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) $ 35,600 MOORE COMPANY Statement of...
On January 1, 2018, Moore, a fast-food company, had a balance in its Cash account of $47,400. During the 2018 accounting period, the company had (1) net cash inflow from operating activities of $29,600, (2) net cash outflow for investing activities of $37,000, and (3) net cash outflow from financing activities of $18,500. Required a. Prepare a statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) 29,600 MOORE COMPANY Statement of Cash Flows For...
As of December 31, 2018, Moss Company had total cash of $153,000, notes payable of $85,300, and common stock of $52,100. During 2019, Moss earned $33,000 of cash revenue, paid $18,500 for cash expenses, and paid a $2,700 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, 2018. b.&c. Record the beginning account balances, revenue, expense, and dividend events under the appropriate elements of the accounting equation. Complete this question by entering...
On January 1, 2016, Shelton Company had a balance of $260,500 in its Land account. During 2016 Shelton sold land that had cost $75,500 for $150,500 cash. The balance in the Land account on December 31, 2016, was $291,500. Required a. Determine the cash outflow for the purchase of land during 2016. Cash outflow for the purchase of land b. Prepare the investing activities section of the 2016 statement of cash flows. (Amounts to be deducted should be indicated with...
Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $1,840 million on July 1, 2021, at a price of $1,810 million. For bonds of similar risk and maturity, the market yleld is 10%. Interest is paid semi-annually on June 30 and December 31. Required: What would be the amount(s) related to the bonds that Agee would report In its statement of cash flows for the year ended December 31, 2021, If It uses the Indirect...
On January 1, Year 2, Shapiro Company paid $70,000 cash to purchase a truck. The truck has a $10,000 salvage value and a five-year useful life. Assume that Shapiro earns $18,000 of cash revenue per year for Year 1 through Year 5 of the assets useful life. Shapiro began Year 2 with a beginning cash balance of $110,000. Required a. Determine the amount of net income for Year 2, Year 3, and Year 4. b. Determine the amount of accumulated...
Following is selected financial Information of Kla Company for the year ended December 31, 2019. Cash used by investing activities Net increase in cash Cash used by financing activities Cash from operating activities Cash, December 31, 2018 $ (3,890) 800 (3,800) 7,600 3,600 Required: Prepare the 2019 year-end statement of cash flows for Kia Company. (Cash outflows should be indicated with a minus sign.) KIA COMPANY Statement of Cash Flows For Year Ended December 31, 2019
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