Homework Answers
| Particulars | Amount | Amount |
| Cash flow from operating activities | ||
| Cash Revenue received from customer | $ 9,78,000.00 | |
| Less:-Increase in Accounts receivable | $ (9,000.00) | |
| Net revenue from customer | $ 9,69,000.00 | |
| Cash Payment | ||
| Supplier payment | $ 5,28,000.00 | |
| Less:-Decrease in Inventories | $ (9,000.00) | |
| Add:-Increase in Accounts payable | $ 13,000.00 | |
| Net supplier payments | $ 5,32,000.00 | |
| Interest payment | $ 15,000.00 | |
| Other operating payment | $ 2,61,000.00 | |
| Income taxes | $ 45,000.00 | $ (8,53,000.00) |
| Net cash from operating activities (a) | $ 1,16,000.00 | |
| Cash flow from investing activities | ||
| Sale of land | $ 25,000.00 | |
| Purchase of equipment | $ (60,000.00) | |
| Net cash from investing activities (b) | $ (35,000.00) | |
| Cash flow from financing activities | ||
| Issue of shares | $ 50,000.00 | |
| Repayment of notes payable | $ (50,000.00) | |
| Payment of dividends | $ (43,000.00) | |
| Net cash from financing activities ( c) | $ (43,000.00) | |
| Net increase in cash (a+b+c) | $ 38,000.00 | |
| Cash at the beginning period | $ 22,000.00 | |
| Cash at end of the period | $ 60,000.00 |
Current cash debt coverage
It is a liquidity ratio that measures the relationship between net cash provided by operating activities and the average current liabilities of the company. It indicates the ability of the business to pay its current liabilities from its operations.
Formula = Net cash provided by operating activites/Average current liabilities
Net Cash from Operating Activities = $ 116000
=$ 116000/ $ 268000* = 0.43 times
*Note - Workings-
Average current liabilities = (opening + closing balance of current liabilites) / 2
| Particulars | 2019 | 2020 |
| Cash at bank | $ 22,000.00 | $ 60,000.00 |
| Inventory | $ 1,89,000.00 | $ 1,80,000.00 |
| Accounts receivbale | $ 76,000.00 | $ 85,000.00 |
| Total current liabilities | $ 2,11,000.00 | $ 3,25,000.00 |
| Average current liabilities | =(287000+325000)/2 | $ 2,68,000.00 |
Cash debt coverage
It is the comparison of cash from operating activities to total liabilities, the cash debt coverage ratio measures a company's ability to pay off all of its liabilities with cash from operations.
Formula = Cash from Operating Activities/Average Total Liabilities
Net Cash from Operating Activities = $ 116000
=$ 116000/ $ 215500* = 0.54 times
*Note - Workings-
| Particulars | 2019 | 2020 |
| Accounts payable | $ 47,000.00 | $ 34,000.00 |
| Notes payable | $ 2,00,000.00 | $ 1,50,000.00 |
| Total liabilities | $ 2,47,000.00 | $ 1,84,000.00 |
| Average Total liabilities | =(247000+184000)/2 | $ 2,15,500.00 |
Add Answer to:
Additional Exercise 18.1 Your answer is partially correct. Try again. Here is a comparative statements of...
Exercise 17-8 Your answer is partially correct. Try again. Here are comparative balance sheets for Velo...
Exercise 17-8 Your answer is partially correct. Try again. Here are comparative balance sheets for Velo Company. VELO COMPANY Comparative Balance Sheets December 31 2016 2017 Assets Cash $73,400 $33,100 Accounts receivable 71,200 85,800 Inventory 170,200 187,000 Land 101,000 72,800 Equipment 260,600 200,800 Accumulated depreciation-equipment (66,100) (33,900) Total $596,700 $559,200 Liabilities and Stockholders' Equity Accounts payable $35,000 $47,500 Bonds payable 151,400 203,400 Common stock ($1 par) 217,600 174,100 Retained earnings 192,700 134,200 Total $596,700 $559,200 Additional information: 1. Net income...
please help with all ent Your answer is partially correct. Try again. The comparative balance sheets...
please help with all
ent Your answer is partially correct. Try again. The comparative balance sheets for Hinckley Corporation show the following information. Cash Accounts receivable Inventory Investments Buildings Equipment Patents December 31 2014 2013 $39,720 $14,060 22,400 10,060 19,910 9,800 -0 3,940 -O- 30,730 47,530 20,030 5,2706,910 $134,830 $95,530 Allowance for doubtful accounts Accumulated depreciation-equipment Accumulated depreciation-building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings $3,010 2,980 -0- 5,270 -0- 2,860 32,230...
The following comparative statements of financial position and income statement are for the business of Bargains...
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What is the correct value for operating expenses? i got 317200 only by calculating bakcwards from...
What is the correct value for operating expenses? i got 317200
only by calculating bakcwards from every other value. Also are the
rest of my values correct? i'm not sure if investing and financing
are correct
Here is a statement of financial position for Big Bang Balloons Pty Ltd for 2015 and comparative figures for 2014 Additional information for the current year 1 Sales revenue 1.439,000 Cost of sales expense 1 600 Interest expense 14.000 Taxcrcense 000 BIG BANG BALLOONS...
Exercise 12-5 Your answer is partially correct. Try again. The following information is available for Bridgeport...
Exercise 12-5 Your answer is partially correct. Try again. The following information is available for Bridgeport Corp. for the year ended December 31, 2017. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 48,690 4,003 175,284 8,872 11,902 307,396 37,870 12,984...
Here are comparative balance sheets for Velo Company. Velo Company Comparative Balance Sheets December 31 Assets...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained...
Your answer is partially correct. Try again. Condensed financial data of Cheng Inc. follow. CHENG INC....
Your answer is partially correct. Try again. Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable Inventory Prepaid expenses Investments Equipment Accumulated depreciation-equipment Total $116,800 92,000 111,800 29,200 139,100 265,400 (47,900) $706,400 $48,100 32,300 102,000 25,200 113,000 242,300 (51,400) $511,500 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $ 111,600 16,300 112,600 220,100 245,800 $706,400 $68,000 17,100 149,000 176,000 101,400 $511,500...
Exercise 23-16 Your answer is partially correct. Try again. The balance sheet data of Brown Company...
Exercise 23-16 Your answer is partially correct. Try again. The balance sheet data of Brown Company at the end of 2014 and 2013 are shown below. 2014 Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation equipment Land $30,000 55,400 64,400 15,000 89,100 (17,820 ) 69,500 $305,580 2013 $35,100 44,500 45,400 25,200 75,600 (7,900 ) 39,700 $257,600 $64,800 15,100 . -- Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings 29,800 189,600 6,280...
Comparative balance sheets for 2021 and 2020, a statement of income for 2021, and additional information...
Comparative balance sheets for 2021 and 2020, a statement of income for 2021, and additional information from the accounting records of Red, Inc., are provided below. RED, INC. Comparative Balance Sheets December 31, 2021 and 2020 ($in millions) 2020 2021 Assets Cash 44 152 Accounts receivable 198 152 Prepaid insurance Inventory Buildings and equipment Less: Accumulated depreciation 5 12 325 195 440 370 (139) (260) $ 880 614 Liabilities Accounts payable Accrued liabilities Notes payable Bonds payable Shareholders' Equity 107...
Exercise 17-8 Your answer is partially correct. Try again. Here are comparative balance sheets for Velo Company. VELO COMPANY Comparative Balance Sheets December 31 2016 2017 Assets Cash $73,400 $33,100 Accounts receivable 71,200 85,800 Inventory 170,200 187,000 Land 101,000 72,800 Equipment 260,600 200,800 Accumulated depreciation-equipment (66,100) (33,900) Total $596,700 $559,200 Liabilities and Stockholders' Equity Accounts payable $35,000 $47,500 Bonds payable 151,400 203,400 Common stock ($1 par) 217,600 174,100 Retained earnings 192,700 134,200 Total $596,700 $559,200 Additional information: 1. Net income...
please help with all
ent Your answer is partially correct. Try again. The comparative balance sheets for Hinckley Corporation show the following information. Cash Accounts receivable Inventory Investments Buildings Equipment Patents December 31 2014 2013 $39,720 $14,060 22,400 10,060 19,910 9,800 -0 3,940 -O- 30,730 47,530 20,030 5,2706,910 $134,830 $95,530 Allowance for doubtful accounts Accumulated depreciation-equipment Accumulated depreciation-building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings $3,010 2,980 -0- 5,270 -0- 2,860 32,230...
The following comparative statements of financial position and income statement are for the business of Bargains Galore Pty Ltd: Bargains Galore Pty Ltd Comparative statements of financial position as at 30 June 2019 2020 Assets Cash at bank $15,000 $22,000 Accounts receivable 70,000 55,000 Inventory 50,000 67,000 Prepaid expenses 40,000 35,000 Plant and equipment 500,000 540,000 Accumulated depreciation - plant and equipment (150,000) (190,000) $525,000 $529,000 Liabilities and equity Accounts payable $33,000 $10,000 Expenses payable 22,000 30,000 Current tax liability...
What is the correct value for operating expenses? i got 317200
only by calculating bakcwards from every other value. Also are the
rest of my values correct? i'm not sure if investing and financing
are correct
Here is a statement of financial position for Big Bang Balloons Pty Ltd for 2015 and comparative figures for 2014 Additional information for the current year 1 Sales revenue 1.439,000 Cost of sales expense 1 600 Interest expense 14.000 Taxcrcense 000 BIG BANG BALLOONS...
Exercise 12-5 Your answer is partially correct. Try again. The following information is available for Bridgeport Corp. for the year ended December 31, 2017. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 48,690 4,003 175,284 8,872 11,902 307,396 37,870 12,984...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained...
Your answer is partially correct. Try again. Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable Inventory Prepaid expenses Investments Equipment Accumulated depreciation-equipment Total $116,800 92,000 111,800 29,200 139,100 265,400 (47,900) $706,400 $48,100 32,300 102,000 25,200 113,000 242,300 (51,400) $511,500 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $ 111,600 16,300 112,600 220,100 245,800 $706,400 $68,000 17,100 149,000 176,000 101,400 $511,500...
Exercise 23-16 Your answer is partially correct. Try again. The balance sheet data of Brown Company at the end of 2014 and 2013 are shown below. 2014 Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation equipment Land $30,000 55,400 64,400 15,000 89,100 (17,820 ) 69,500 $305,580 2013 $35,100 44,500 45,400 25,200 75,600 (7,900 ) 39,700 $257,600 $64,800 15,100 . -- Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings 29,800 189,600 6,280...
Comparative balance sheets for 2021 and 2020, a statement of income for 2021, and additional information from the accounting records of Red, Inc., are provided below. RED, INC. Comparative Balance Sheets December 31, 2021 and 2020 ($in millions) 2020 2021 Assets Cash 44 152 Accounts receivable 198 152 Prepaid insurance Inventory Buildings and equipment Less: Accumulated depreciation 5 12 325 195 440 370 (139) (260) $ 880 614 Liabilities Accounts payable Accrued liabilities Notes payable Bonds payable Shareholders' Equity 107...
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