Homework Answers
| Cash Flow Statement | |||
| Indirect Method | |||
| Cash flow from Operating Activities | |||
| Net Income | $ 129,380 | ||
| Adjustments | |||
| Depreciation | $ 26,900 | ||
| Change In current assets & Liabilities | |||
| Increase in Accounts Receivable | $ (15,900) | ||
| Decrease in Inventories | $ 9,100 | ||
| Decrease in Accounts payable | $ (13,100) | ||
| Total Adjustments | $ 7,000 | ||
| Net Cash from operating activities | $ 136,380 | ||
| Cash flow from Investing Activities | |||
| Sale of Land | $ 39,100 | ||
| Purchase of Equipment | $ (59,900) | ||
| Net Cash used in investing activities | $ (20,800) | ||
| Cash flow from Financing Activities | |||
| Payment of cash dividends | $ (64,680) | ||
| Net Cash used in financing activities | $ (64,680) | ||
| Net Increase in cash | $ 50,900 | ||
| Cash, beginning of the year | $ 22,000 | ||
| Cash, ending of the year | $ 72,900 | ||
| Non Cash Financing Activities | |||
| Issue of common stock to retire $50,000 of bonds outstanding |
Current Cash Debt Coverage = Net Cash provided by Operating
Activities / Average Current Liabilities
= $136380 / 42740 = 3.19
Cash Debt Coverage = Net Cash provided by Operating Activities /
Average Total Liabilities
= $136380 / 217740 = 0.63
Free Cash FLow = Net Cash provided by Operating Activities -
Capital Expenditure
= $136380 - 20800 = $115580
Martinez has high liquidity and its financial flexibility is strong
If you have any query, kindly comment with your query and please mark thumbs up.
Add Answer to:
A comparative balance sheet for Martinez Corporation is presented as follows. Assets Cash Accounts receivable Inventory...
A comparative balance sheet for Flint Corporation is presented as follows. Assets Cash Accounts receivable Inventory...
A comparative balance sheet for Flint Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,810 $ 22,000 83,460 67,650 181,460 190,650 72,460 111,650 261,460 201,650 (70,460) (43,650) $601,190 $549,950 $ 35,460 150,000 214,000 201,730 $601,190 $ 48,650 200,000 164,000 137,300 $549,950 Additional information: 1. Net income for 2020 was $127,920. No gains...
A comparative balance sheet for Monty Corporation is presented as follows. Assets Cash Accounts receivable Inventory...
A comparative balance sheet for Monty Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,700 $ 22,000 83,780 68,080 181,780 191,080 72,780 112,080 261,780 202,080 (70,780) (44,080) $602,040 $551,240 $ 35,780 $ 49,080 150,000 200,000 214,000 164,000 202,260 138,160 $602,040 $551,240 Additional information: 1. Net income for 2020 was $128,560. No gains or...
A comparative balance sheet for Teal Corporation is presented as follows. December 31 Assets 2020 2019...
A comparative balance sheet for Teal Corporation is presented as follows. December 31 Assets 2020 2019 Cash $ 72,810 $ 22,000 Accounts receivable 83,460 67,650 Inventory 181,460 190,650 Land 72,460 111,650 Equipment 261,460 201,650 Accumulated Depreciation-Equipment (70,460 ) (43,650 ) Total $601,190 $549,950 Liabilities and Stockholders' Equity Accounts payable $ 35,460 $ 48,650 Bonds payable 150,000 200,000 Common stock ($1 par) 214,000 164,000 Retained earnings 201,730 137,300 Total $601,190 $549,950 Additional information: 1. Net income for 2020 was $127,920. No...
A comparative balance sheet for Flounder Corporation is presented as follows. Assets Cash Accounts receivable Inventory...
A comparative balance sheet for Flounder Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,690 $ 22,000 83,430 67,740 181,430 190,740 72,430 111,740 261,430 201,740 (70,430) (43,740) $600,980 $550,220 $35,430 150,000 214,000 201,550 $600,980 $ 48,740 200,000 164,000 137,480 $550,220 Additional information: 1. 2. Net income for 2020 was $127,860. No gains...
A comparative balance sheet for Pharoah Corporation is presented as follows. Assets Cash Accounts receivable Inventory...
A comparative balance sheet for Pharoah Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,730 $ 22,000 84,480 68,750 182,480 191,750 73,480 112,750 262,480 202,750 (71,480) (44,750) $604,170 $553,250 $ 36,480 150,000 214,000 203,690 $604,170 $ 49,750 200,000 164,000 139,500 $553,250 Additional information: 1. Net income for 2020 was $129,960. No gains...
A comparative balance sheet for Sandhill Corporation is presented as follows. Assets Cash Accounts receivable Inventory...
A comparative balance sheet for Sandhill Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,890 $ 22,000 83.820 67,930 181,820 190,930 72,820 111,930 261,820 201,930 (70,820) (43,930) $602,350 $550,790 $ 35,820 150,000 214,000 202,530 $602,350 $ 48,930 200,000 164,000 137.860 $550,790 Additional information: 1. 2. 3. Net income for 2020 was $128,640. No...
Problem 5-7 Bramble Inc. had the following balance sheet at December 31, 2019. Cash Accounts receivable...
Problem 5-7 Bramble Inc. had the following balance sheet at December 31, 2019. Cash Accounts receivable Investments Plant assets (net) Land BRAMBLE INC. BALANCE SHEET DECEMBER 31, 2019 $ 22,390 Accounts payable 23,590 Bonds payable 32,000 Common stock 83,390 Retained earnings 42,390 $203,760 $ 32,390 43,390 102,390 25,590 $203,760 During 2020, the following occurred. 1. 2. 3. 4. 5. 6. 7. Bramble liquidated its available-for-sale debt investment portfolio at a loss of $7,390. A tract of land was purchased for...
Problem 5-6 Cheyenne Inc. had the following balance sheet at December 31, 2019. Cash Accounts receivable...
Problem 5-6 Cheyenne Inc. had the following balance sheet at December 31, 2019. Cash Accounts receivable Investments Plant assets (net) Land CHEYENNE INC. BALANCE SHEET DECEMBER 31, 2019 $20,990 Accounts payable 22,190 Notes payable (long-term) 32,990 Common stock 81,000 Retained earnings 40,990 $198,160 $30,990 41,990 100,990 24,190 $198,160 During 2020, the following occurred. 1. 2. 3. Cheyenne Inc. sold part of its debt investment portfolio for $15,071. This transaction resulted in a gain of $3,471 for the firm. The company...
Exercise 5-16 (Part Level Submission) A comparative balance sheet for Wildhorse Corporation is presented as follows....
Exercise 5-16 (Part Level Submission)
A comparative balance sheet for Wildhorse Corporation is presented
as follows.
December 31
Assets
2020
2019
Cash
$ 72,700
$ 22,000
Accounts receivable
83,780
68,080
Inventory
181,780
191,080
Land
72,780
112,080
Equipment
261,780
202,080
Accumulated Depreciation-Equipment
(70,780
)
(44,080
)
Total
$602,040
$551,240
Liabilities and Stockholders' Equity
Accounts payable
$ 35,780
$ 49,080
Bonds payable
150,000
200,000
Common stock ($1 par)
214,000
164,000
Retained earnings
202,260
138,160
Total
$602,040
$551,240
Additional information:
1.
Net income...
The comparative balance sheets of Pronghorn Corporation at the beginning and end of the year 2020...
The comparative balance sheets of Pronghorn Corporation at the beginning and end of the year 2020 appear below. Inc./Dec. PRONGHORN CORPORATION BALANCE SHEETS Dec. 31, 2020 Jan 1, 2020 Assets Cash $22,120 $14,770 Accounts receivable 108,120 89,770 Equipment 41,120 23,770 Less: Accumulated Depreciation-Equipment (17,000) (11,000) Total $154,360 $117,310 Liabilities and Stockholders' Equity Accounts payable $22,120 $16,770 Common stock 102,120 81,770 Retained earnings 30,120 18,770 Total $154,360 $117,310 $7,350 Inc. 18,350 Inc. 17,350 Inc. 6,000 Inc. 5,350 Inc. 20,350 Inc. 11,350...
A comparative balance sheet for Flint Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,810 $ 22,000 83,460 67,650 181,460 190,650 72,460 111,650 261,460 201,650 (70,460) (43,650) $601,190 $549,950 $ 35,460 150,000 214,000 201,730 $601,190 $ 48,650 200,000 164,000 137,300 $549,950 Additional information: 1. Net income for 2020 was $127,920. No gains...
A comparative balance sheet for Monty Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,700 $ 22,000 83,780 68,080 181,780 191,080 72,780 112,080 261,780 202,080 (70,780) (44,080) $602,040 $551,240 $ 35,780 $ 49,080 150,000 200,000 214,000 164,000 202,260 138,160 $602,040 $551,240 Additional information: 1. Net income for 2020 was $128,560. No gains or...
A comparative balance sheet for Flounder Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,690 $ 22,000 83,430 67,740 181,430 190,740 72,430 111,740 261,430 201,740 (70,430) (43,740) $600,980 $550,220 $35,430 150,000 214,000 201,550 $600,980 $ 48,740 200,000 164,000 137,480 $550,220 Additional information: 1. 2. Net income for 2020 was $127,860. No gains...
A comparative balance sheet for Pharoah Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,730 $ 22,000 84,480 68,750 182,480 191,750 73,480 112,750 262,480 202,750 (71,480) (44,750) $604,170 $553,250 $ 36,480 150,000 214,000 203,690 $604,170 $ 49,750 200,000 164,000 139,500 $553,250 Additional information: 1. Net income for 2020 was $129,960. No gains...
A comparative balance sheet for Sandhill Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,890 $ 22,000 83.820 67,930 181,820 190,930 72,820 111,930 261,820 201,930 (70,820) (43,930) $602,350 $550,790 $ 35,820 150,000 214,000 202,530 $602,350 $ 48,930 200,000 164,000 137.860 $550,790 Additional information: 1. 2. 3. Net income for 2020 was $128,640. No...
Problem 5-7 Bramble Inc. had the following balance sheet at December 31, 2019. Cash Accounts receivable Investments Plant assets (net) Land BRAMBLE INC. BALANCE SHEET DECEMBER 31, 2019 $ 22,390 Accounts payable 23,590 Bonds payable 32,000 Common stock 83,390 Retained earnings 42,390 $203,760 $ 32,390 43,390 102,390 25,590 $203,760 During 2020, the following occurred. 1. 2. 3. 4. 5. 6. 7. Bramble liquidated its available-for-sale debt investment portfolio at a loss of $7,390. A tract of land was purchased for...
Problem 5-6 Cheyenne Inc. had the following balance sheet at December 31, 2019. Cash Accounts receivable Investments Plant assets (net) Land CHEYENNE INC. BALANCE SHEET DECEMBER 31, 2019 $20,990 Accounts payable 22,190 Notes payable (long-term) 32,990 Common stock 81,000 Retained earnings 40,990 $198,160 $30,990 41,990 100,990 24,190 $198,160 During 2020, the following occurred. 1. 2. 3. Cheyenne Inc. sold part of its debt investment portfolio for $15,071. This transaction resulted in a gain of $3,471 for the firm. The company...
Exercise 5-16 (Part Level Submission)
A comparative balance sheet for Wildhorse Corporation is presented
as follows.
December 31
Assets
2020
2019
Cash
$ 72,700
$ 22,000
Accounts receivable
83,780
68,080
Inventory
181,780
191,080
Land
72,780
112,080
Equipment
261,780
202,080
Accumulated Depreciation-Equipment
(70,780
)
(44,080
)
Total
$602,040
$551,240
Liabilities and Stockholders' Equity
Accounts payable
$ 35,780
$ 49,080
Bonds payable
150,000
200,000
Common stock ($1 par)
214,000
164,000
Retained earnings
202,260
138,160
Total
$602,040
$551,240
Additional information:
1.
Net income...
The comparative balance sheets of Pronghorn Corporation at the beginning and end of the year 2020 appear below. Inc./Dec. PRONGHORN CORPORATION BALANCE SHEETS Dec. 31, 2020 Jan 1, 2020 Assets Cash $22,120 $14,770 Accounts receivable 108,120 89,770 Equipment 41,120 23,770 Less: Accumulated Depreciation-Equipment (17,000) (11,000) Total $154,360 $117,310 Liabilities and Stockholders' Equity Accounts payable $22,120 $16,770 Common stock 102,120 81,770 Retained earnings 30,120 18,770 Total $154,360 $117,310 $7,350 Inc. 18,350 Inc. 17,350 Inc. 6,000 Inc. 5,350 Inc. 20,350 Inc. 11,350...
Most questions answered within 3 hours.
-
Humans have used horses for transportation for millions of
years. Therefore, they will use horses for...
asked 48 minutes ago -
The following are the Jensen Corporation's unit costs of making
and selling an item at a...
asked 1 hour ago -
Does direct Medicare reimbursement of Advanced practice nurses
increase access to their services?
asked 2 hours ago -
List and explain why a company would choose to use a
published
compensation survey vs. creating...
asked 2 hours ago -
A discrete random variable X can take values from 1 to 10. Find
the variance of...
asked 2 hours ago -
The primary financial goal of a corporation is to maximize:
shareholders wealth.
earnings per share.
stock...
asked 2 hours ago -
determine whether the vectors u=(1,2,3,), v=(-2,1,0) and
w=(1,0,1) are linearly dependent or independent.
asked 2 hours ago -
python
Define a function called print_values which takes a dictionary
object as a parameter. The function...
asked 3 hours ago -
In Chapter 1 you created a program named Triangle in
which you displayed a seven-line triangle...
asked 3 hours ago -
Research question: What are the differences between separately
stated and non separately stated transactions in an...
asked 4 hours ago -
By using Arduino write a code that connects two LEDs to two
push-buttons. Each button controls...
asked 5 hours ago -
Bank of America has bonds that pay a coupon interest rate of 5.5
percent and mature...
asked 5 hours ago