Homework Answers
| Operating activities | |||
| Amount | |||
| Net profit(WN1) | 40764 | ||
| Add | Dep | 19600 | |
| Add | Interest | 13000 | |
| Changes in Working capital | |||
| Less | Increase in Current Asset | 30000 | |
| Add | Increase in Current liabilities | 8000 | |
| Cashflow from operating activities | 51364 | ||
| Investing activities | |||
| Less | Purchase of PPE(WN2) | 26600 | |
| Cashflow from investing activities | -26600 | ||
| Financing activities | |||
| Less | Dividend paid | 12500 | |
| Less | Interest paid | 13000 | |
| Add | Fresh issue | 3000 | |
| Less | Repayment of debt | 7000 | |
| Cashflow from Financing activities | -29500 | ||
| Cash from all activities | -4736 | ||
| (Equal to change in cash flow) | |||
| Working | |||
| Calculation of net profit | |||
| WN1 | |||
| Sale | 335000 | ||
| cost | 240000 | ||
| other expenses | 10800 | ||
| Dep | 19600 | ||
| int | 13000 | ||
| PBT | 51600 | ||
| tax | 10836 | ||
| net profit | 40764 | ||
| WN2 | PPE A/c | ||
| opening | 261000 | Dep | 19600 |
| Purchases(b/f) | 26600 | Closing | 268000 |
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Question 2 25 points You have these financial data: Cash Current Assets 201918) 30,000 126,000 2020...
MC TRAVEL INC. Balance Sheet December 31, $ Restated 2020 Restated 2019 Change ASSETS-Current assets Cash...
MC TRAVEL INC. Balance Sheet December 31, $ Restated 2020 Restated 2019 Change ASSETS-Current assets Cash Temporary investments Accounts receivable Allowance for doubtful accounts Total current assets 7,600,000 2,006,000 5,000,000 -200,000 14,406,000 5,040,000 1,900,000 3,700,000 -100,500 10,539,500 2,560,000 106,000 1,300,000 -99,500 3,866,500 Capital assets Land Building and equipment Accumulated depreciation Total capital assets 40,250,000 40,270,000 -5,175,000 75,345,000 15,250,000 40,072,000 -3,450,000 51,872,000 25,000,000 198,000 -1,725,000 23,473,000 Total assets 89,751,000 62,411,500 27,339,500 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable Interest payable Income taxes...
Kim Khan Comparative statements of financial position as at 30 June 2019 2020 Current assets Cash...
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NOSKER COMPANY Comparative Balance Sheet December 31 2017 2016 Assets Cash $38,000 $20,000 Accounts Receivable 30,000...
NOSKER COMPANY Comparative Balance Sheet December 31 2017 2016 Assets Cash $38,000 $20,000 Accounts Receivable 30,000 14,000 Inventory 27,000 20,000 78,000 Equipment Accumulated depreciation-equipment 60,000 (29,000) $126,000 (24,000) $108,000 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable $24,000 $15,000 7,000 8,000 27,000 33,000 Common stock 18,000 14,000 38,000 $108,000 Retained earnings 50,000 Total $126,000 NOSKER COMPANY Income Statement For the Year ended December 31, 2017 Sales revenue $242,000 Cost of goods sold Gross profit 175,000 67,000...
For the Year Ended December 31, 2020 Cash Flows from Operating Activities Adjustments to reconcile net...
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Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2020...
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COMPARATIVE BALANCE SHEETS AS AT JUNE 30 2020 2019 $'000's $'000's 146 134 Current Assets Cash...
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Statement of financial position as at 30 June 2018 2020 ($) 2019 ($) Current Assets Cash...
Statement of financial position as at 30 June 2018 2020 ($) 2019 ($) Current Assets Cash and cash equivalents Trade Receivables Inventories Total current assets Non-current assets Total Assets 2,300 13,400 90,502 106,202 480,750 586,952 2,370 17,175 143,955 163,500 435,750 599,250 1,896 15,458 158,350 175,704 398,175 573,879 23.175 150,000 173,175 23,287 120,000 143,287 24,153 100,000 124,153 Current liabilities Long-term borrowings Total liabilities Equity Share Capital Retained Earnings Total Equity Total equity and liabilities 338,250 75,527 413,777 586,952 338,250 117,713 455,963...
NI+D+L-G Saffordville Co. Cash Flow Statement (Inderect Method) Current Assets Increase Current Assets Decrease Decrease Increase...
NI+D+L-G Saffordville Co. Cash Flow Statement (Inderect Method) Current Assets Increase Current Assets Decrease Decrease Increase Need Help Completing the Cash Flow of Statement Assets Cash A/R Inventory Investments Equipment Accumulated Derp.-Equipment Total Liabilities and Stockholders' Equity 2020 77,700 60,800 126,900 79,500 315,000 (44,500) 615,400 2019 33,400 447,000 92,650 107,000 205,000 (40,000) 845,050 112,660 Current Liabilities Increase Increase Current Liabilities Decrease Decrease Cah flows from operating activities Net Income Add: Decrease in Accounts Receivables Increase in A/P A/P 48,280 18,830...
Please provided formulas/equations so i know how to solve for. thank you! Cash Flow Statement Amount...
Please provided formulas/equations so i know how to solve for.
thank you!
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Che 1. Acquired $30,000 cash from the issue of common stock 2. Paid $12,000 cash to...
Che 1. Acquired $30,000 cash from the issue of common stock 2. Paid $12,000 cash to purchase land. 3. Borrowed $10,000 cash 4. Provided services for $20,000 cash. 5. Paid $1,000 cash for utilities expense. 6. Paid $15,000 cash for other operating expenses. 7. Paid a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $12,700. Required a. The January 1, Year 2. general ledger account balances are...
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NOSKER COMPANY Comparative Balance Sheet December 31 2017 2016 Assets Cash $38,000 $20,000 Accounts Receivable 30,000 14,000 Inventory 27,000 20,000 78,000 Equipment Accumulated depreciation-equipment 60,000 (29,000) $126,000 (24,000) $108,000 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable $24,000 $15,000 7,000 8,000 27,000 33,000 Common stock 18,000 14,000 38,000 $108,000 Retained earnings 50,000 Total $126,000 NOSKER COMPANY Income Statement For the Year ended December 31, 2017 Sales revenue $242,000 Cost of goods sold Gross profit 175,000 67,000...
For the Year Ended December 31, 2020 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flow from operating activities Cash Flows from Investing Activities Net cash flow from investing activities Cash Flows from Financing Activities Net cash flow from financing activities Cash at the beginning of the period Cash at the end of the period The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided...
Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2020 Cash $103,600 Accounts receivable 91,000 Inventory 111,000 Prepaid expenses 29,100 Investments 139,700 Equipment 265,300 Accumulated depreciation equipment (47,800) Total $691,900 2019 $48,100 32,900 102,500 25,500 113,100 242,600 (52,300) $512,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,600 16,000 119,900 219,000 225,400 $691,900 $67,900 17,100 149,300 175,100 103,000 $512,400 $391,300 CHENG INC. Income Statement For the...
COMPARATIVE BALANCE SHEETS AS AT JUNE 30 2020 2019 $'000's $'000's 146 134 Current Assets Cash at Bank Accounts Receivable Prepaid Insurance Inventory 52 45 10 6 58 46 250 170 Non-Current Assets Machinery less Accum. Depr Machinery Investments Total Assets 90 160 60 110 50 20 476 361 42 58 Current Liabilities Accounts Payable Wages Payable Income Tax Payable 3 8 10 5 Non-Current Liabilities Loan 130 100 185 171 Total Liabilities Net Assets 291 190 Shareholders' Equity Share...
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NI+D+L-G Saffordville Co. Cash Flow Statement (Inderect Method) Current Assets Increase Current Assets Decrease Decrease Increase Need Help Completing the Cash Flow of Statement Assets Cash A/R Inventory Investments Equipment Accumulated Derp.-Equipment Total Liabilities and Stockholders' Equity 2020 77,700 60,800 126,900 79,500 315,000 (44,500) 615,400 2019 33,400 447,000 92,650 107,000 205,000 (40,000) 845,050 112,660 Current Liabilities Increase Increase Current Liabilities Decrease Decrease Cah flows from operating activities Net Income Add: Decrease in Accounts Receivables Increase in A/P A/P 48,280 18,830...
Please provided formulas/equations so i know how to solve for.
thank you!
Cash Flow Statement Amount Calculations - Chapter 14 End of year Beginning of year Current year Income statement Balance sheet Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment, at cost Less: Accum. depreciation Net equipment Total assets 86,000 112,000 141,000 18,000 357,000 298,000 (100,000) 198,000 555,000 54,000 126,000 120,000 21,000 321,000 240,000 (76,000) 164,000 485.000 Change 32,000 (14,000) 21,000 (3,000) 36,000 58,000 (24,000) 34,000 70,000 800,000...
Che 1. Acquired $30,000 cash from the issue of common stock 2. Paid $12,000 cash to purchase land. 3. Borrowed $10,000 cash 4. Provided services for $20,000 cash. 5. Paid $1,000 cash for utilities expense. 6. Paid $15,000 cash for other operating expenses. 7. Paid a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $12,700. Required a. The January 1, Year 2. general ledger account balances are...
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