Homework Answers
Solution :
| Cash flow
Statement- Ayayi Corp's For year ended December 31, 20Y3 |
||
| Particulars | Details | Amount |
| Cash Flow from Operating Activities: | ||
| Net Income ($1,310,850 -
$1,196,190 + $24,190) Closing retained earnings + Opening Retained Earnings - Proposed Dividend |
$138,850.00 | |
| Adjustments to reconcile net income to cash flow from operating activities: | ||
| Depreciation | $18,470.00 | |
| Gain on sale of investment ($279,190 - $240,620) | -$38,570.00 | |
| Increase in Accounts Receivables ($228,100 - $208,850) | -$19,250.00 | |
| Increase in Invetory ($640,910 - $617,650) | -$23,260.00 | |
| Increase in Accounts Payable ($425,280 - $404,550) | $20,730.00 | |
| Decrease in accured expenses payable ($52,020 - $41,990) | -$10,030.00 | |
| Total Adjustments | -$51,910.00 | |
| Net Cash Flow From Operating Activites (A) | $86,940.00 | |
| Cash Flow from Investing Activities: | ||
| Cash proceed from sale of investment | $279,190.00 | |
| Cash paid for purchase of equipment ($704,540 - $553,320) | -$151,220.00 | |
| Cash paid for puchase of land | -$328,090.00 | |
| Net Cash Flow From Investing Activites (B) | -$200,120.00 | |
| Cash Flow from Financing Activities: | ||
| Cash received from sale of common stock ($142,000 + $416,700 - $106,000 - $279,900) | $172,800.00 | |
| Cash paid for dividend | -$20,170.00 | |
| Net Cash Flow From Financing Activites (C) | $152,630.00 | |
| Total Cash flow from all activities (A+B+C) | $39,450.00 | |
| Cash at the beginning of the year | $586,230.00 | |
| Cash at the end of year | $625,680.00 | |
Add Answer to:
Dec. 31, 20Y3 Dc. 31, 20Y2 Assets 3Cash 4 Accounts receivable (net) 5 Inventories 6 Investments...
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Statement of Cash Flows-Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3...
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he comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $270,970 $250,900 Accounts receivable (net) 98,160 90,110 Inventories 277,110 266,820 Investments 0 103,360 Land 142,130 0 Equipment 305,730 235,880 Accumulated depreciation—equipment (71,580) (63,610) Total assets $1,022,520 $883,460 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $185,080 $174,040 Accrued expenses payable (operating expenses) 18,410 22,970 Dividends payable 10,230 7,950 Common stock, $10 par 55,220 43,290 Paid-in...
Instructions The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown...
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> New Tab Dec 31, 2016 Dec 31, 2045 Assets 3 Cash 5679,240.00 547,320.00 Accounts receivable...
> New Tab Dec 31, 2016 Dec 31, 2045 Assets 3 Cash 5679,240.00 547,320.00 Accounts receivable (net) 982,470.00 5 Inventories Investments 5645,810.00 566,800.00 1,010,630.00 0.00 519,380.00 879,170.00 (245,160.00) 55,374,630.00 7 Land 240,820.00 0.00 680,900.00 (201,330.00) $2,929,420.00 & Equipment Accumulated depreciation 10 Total assets Liabilities and Stockholders' Equity 12 Accounts payable (merchandise creditors) 13 Accrued expenses payable (operating expenses) 14 Dividends payable 15 Common stock, 52 par 16 Paid-in capital: Excess of issue price over par-common stock $771,990.00 64,240.00 $747,520.00 70,210.00...
Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as...
Additional data obtained from
an examination of the accounts in the ledger for 20Y3 are as
follows: A. The investments were sold for $175,000 cash. B.
Equipment and land were acquired for cash. C. There were no
disposals of equipment during the year. D. The common stock was
issued for cash. E. There was a $500,000 credit to Retained
Earnings for net income. F. There was a $90,000 debit to Retained
Earnings for cash dividends declared. Prepare a statement of...
Instructions The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown...
Instructions The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec 31, 2093 Dec 31, 2092 Assets Cash $585.190.00 $626,100.00 228,630.00 Accounts receivable (net) 208.060.00 Inventories 641,030.00 617,620.00 Investments 0.00 239.850.00 Land 0.00 528.160.00 705.110.00 Equipment 1166.940.00) Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity 553.850.00 (147,700.00) 52.056.850.00 $2.382.190.00 Check My Work Assignment Score: 49.13% TEZOVUZLUUMUUUU $423,690.00 case Labilities and Stockholders' Equity 12 Accounts payable (merchandise creditors) 13 Accrued expenses payable (operating...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $260,120 $240,850 Accounts receivable (net) 94,230 86,500 Inventories 266,000 256,120 Investments 0 99,230 Land 136,440 0 Equipment 293,490 226,440 Accumulated depreciation-equipment (68,710) (61,060) Total assets $981,570 $848,080 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $177,660 $167,070 Accrued expenses payable (operating expenses) 17,670 22,050 Dividends payable 9,820 7,630 Common stock,...
Instructions The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets 3 Cash $626,640.00 $585,760.00 Accounts receivable (net) 226,900.00 208,390.00 Inventories 641,350.00 616,130.00 Investments 0.00 239,300.00 Land 328,730.00 0.00 Equipment 705,940.00 Accumulated depreciation-equipment (166,970.00) 553,530.00 (148,000.00) $2,055,110.00 Total assets $2,362,590.00 Liabilities and Stockholders' Equity 12 Accounts payable (merchandise creditors) $425,140.00 $404,540.00 13 Accrued expenses payable (operating expenses) 42,020.00 52,750.00 Dividends payable 23,580.00 19,500.00 Common stock, $4...
> New Tab Dec 31, 2016 Dec 31, 2045 Assets 3 Cash 5679,240.00 547,320.00 Accounts receivable (net) 982,470.00 5 Inventories Investments 5645,810.00 566,800.00 1,010,630.00 0.00 519,380.00 879,170.00 (245,160.00) 55,374,630.00 7 Land 240,820.00 0.00 680,900.00 (201,330.00) $2,929,420.00 & Equipment Accumulated depreciation 10 Total assets Liabilities and Stockholders' Equity 12 Accounts payable (merchandise creditors) 13 Accrued expenses payable (operating expenses) 14 Dividends payable 15 Common stock, 52 par 16 Paid-in capital: Excess of issue price over par-common stock $771,990.00 64,240.00 $747,520.00 70,210.00...
Additional data obtained from
an examination of the accounts in the ledger for 20Y3 are as
follows: A. The investments were sold for $175,000 cash. B.
Equipment and land were acquired for cash. C. There were no
disposals of equipment during the year. D. The common stock was
issued for cash. E. There was a $500,000 credit to Retained
Earnings for net income. F. There was a $90,000 debit to Retained
Earnings for cash dividends declared. Prepare a statement of...
Instructions The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec 31, 2093 Dec 31, 2092 Assets Cash $585.190.00 $626,100.00 228,630.00 Accounts receivable (net) 208.060.00 Inventories 641,030.00 617,620.00 Investments 0.00 239.850.00 Land 0.00 528.160.00 705.110.00 Equipment 1166.940.00) Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity 553.850.00 (147,700.00) 52.056.850.00 $2.382.190.00 Check My Work Assignment Score: 49.13% TEZOVUZLUUMUUUU $423,690.00 case Labilities and Stockholders' Equity 12 Accounts payable (merchandise creditors) 13 Accrued expenses payable (operating...
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