3) Prepare a statement of cash flows using the following information. Increase in accounts receivable: $600...
3) Prepare a statement of cash flows using the following information. Increase in accounts receivable: $600 Increase in inventories: $160 Increase in long term debt: $160 Beginning cash: $6,000 Increase in accounts payable: $120 Increase in other current assets: $300 Dividends: $80 Increase in common stock: $20 Increase in gross fixed assets: $100 Depreciation expense: 3,000 Net income: $1,000
4) When will a firm’s ROE and ROA be equal?
5) What are the limitations of financial ratios?
Homework Answers
Cash flow statement
Increase in account receivables ($600)
Increases in inventory ($160)
Increase in long term debt $160
Increase in account payables $120
Increase in current asset ($300)
Dividend received $80
Increase in common stock ($20)
Increase in gross fixed cost ($100)
Net income $1000
Net cash flows $180
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3) Prepare a statement of cash flows using the following
information. Increase in accounts receivable: $600...
1) Prepare an income statement from the following information. Sales: $600,000 Cost of Goods Sold: $300,000...
1) Prepare an income statement from the following information. Sales: $600,000 Cost of Goods Sold: $300,000 Administrative expenses: $50,000 Depreciation expenses: $10,000 Interest expense: $15,000 Tax rate: 20% 2) Prepare a balance sheet from the following information Cash $110,000 Accounts receivable: $50,000 Accounts payable: $40,000 Notes payable (short term $120,000 Inventories: $70,000 Gross fixed assets: $175,000 Other assets: $15,000 Retained earnings: $15,000 Accumulated depreciation: $20,000 Long term banknote: $105,000 Other long-term debt: $20,000 Common stock $100,000 3) Prepare a statement...
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Given the following Financial Information Answer the following question: 2017 2018 Cash 1,000 270,396 Accounts Receivable 6,000 6,600 Inventory 4,000 4,400 Prepaid Assets 3,000 3,300 Other Assets 1,000 1,100 Total Current Assets 15,000 285,796 Net PPE 90,000 73,000 Intangibles 6,000 6,000 Total Assets 111,000 364,796 Accounts Payable 2,000 2,200 Salary Payable 2,000 2,200 Notes Payable 9,000 9,000 Total Current Liabilities 13,000 13,400 Long-Term Debt 20,000 20,000 Total Liabilities 33,000 33,400 Common Stock 90,000 90,000 Retained Earnings -12,000 241,396 total equity...
2011 2012 Cash 300 400 Accounts receivable 1,000 1,400 Inventories 3,200 3,000 Current assets 4,500 4,800...
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1 The Statement of Cash Flows 2 Using Excel to prepare the statement of cash flows,...
1 The Statement of Cash Flows 2 Using Excel to prepare the statement of cash flows, indirect method 4 5 The James Island Clothing Company began operations on July 1, 2018. The adjusted trial balance as of December 31, 2018, appears below, along with transaction data for 2018. JAMES ISLAND CLOTHING COMPANY Adjusted Trial Balance 12/31/18 Account Title Cash Accounts Receivable Inventory Office Equipment Truck Accumulated Depreciation-Plant Assets Accounts Payable Note Payable-Short Term Note Payable-Long Term Common Stock Retained Earnings...
1) Prepare an income statement from the following information. Sales: $600,000 Cost of Goods Sold: $300,000 Administrative expenses: $50,000 Depreciation expenses: $10,000 Interest expense: $15,000 Tax rate: 20% 2) Prepare a balance sheet from the following information Cash $110,000 Accounts receivable: $50,000 Accounts payable: $40,000 Notes payable (short term $120,000 Inventories: $70,000 Gross fixed assets: $175,000 Other assets: $15,000 Retained earnings: $15,000 Accumulated depreciation: $20,000 Long term banknote: $105,000 Other long-term debt: $20,000 Common stock $100,000 3) Prepare a statement...
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QUESTION 3 REQUIRED Use the information provided below to prepare the Cash Flow Statement of Tempest Limited for the year ended 31 December 2019. INFORMATION TEMPEST LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2019 Sales Cost of sales Gross profit Operating expenses Selling and administrative expenses Depreciation Operating profit Interest expense Profit before tax Income tax Profit after tax 2 200 000 (1 300 000) 900 000 (570 000) (420 000) (150 000) 330 000 (90...
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1 The Statement of Cash Flows 2 Using Excel to prepare the statement of cash flows, indirect method 4 5 The James Island Clothing Company began operations on July 1, 2018. The adjusted trial balance as of December 31, 2018, appears below, along with transaction data for 2018. JAMES ISLAND CLOTHING COMPANY Adjusted Trial Balance 12/31/18 Account Title Cash Accounts Receivable Inventory Office Equipment Truck Accumulated Depreciation-Plant Assets Accounts Payable Note Payable-Short Term Note Payable-Long Term Common Stock Retained Earnings...
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