Cash flow
Land was acquired for $100,000 in exchange for ordinary shares, par $100,000, during the year; all equipment purchased was for cash. Equipment costing $10,000 was sold for $4,000; book value of the equipment was $8,000 and the loss was reported in net income. Cash dividends of $20,000 were charged to retained earnings and paid during the year; the transfer of net income to retained earnings was the only other entry in the Retained Earnings account. In the statement of cash flows for the year ended December 31, 20x7, for Minx Company:
The net cash provided by operating activities was $
The net cash provided (used) by investing activities was $
The net cash provided (used) by financing activities was $
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The balance sheet data of Naley Company at the end of 2019 and 2018 follow: 2019...
The balance sheet data of Naley Company at the end of 2019 and 2018 follow: 2019 2018 Cash $ 50,000 $ 70,000 Accounts receivable (net) 120,000 90,000 Merchandise inventory 140,000 90,000 Prepaid expenses 20,000 50,000 Buildings and equipment 180,000 150,000 Accumulated depreciation—buildings and equipment (36,000) (16,000) Land 180,000 80,000 Totals $654,000 $514,000 Accounts payable $136,000 $110,000 Accrued expenses 24,000 36,000 Notes payable—bank, long-term 80,000 Mortgage payable 60,000 Common stock, $10 par 418,000 318,000 Retained earnings (deficit) 16,000 (30,000) $654,000 $514,000...
Problem 8 The balance sheet data of Naley Company at the end of 2019 and 2018...
Problem 8 The balance sheet data of Naley Company at the end of 2019 and 2018 follow: 2019 2018 $_50.000 Cash Accounts receivable (net) $ 70,000 90,000 120,000 Merchandise inventory 140,000 Prepaid expenses Buildings and equipment 90,000 50,000 150,000 180,000 (36,000) Accumulated depreciation-buildings and equipment Land Totals Accounts payable Accrued expenses Notes payable-bank, long-term Mortgage payable $654.000 $136,000 24,000 (16,000) 80,000 $514.000 $110,000 36,000 80,000 60,000 418,000 318,000 Common stock, $10 par Retained earnings (deficit) 16,000 $654.000 30,000) $514.000 Land...
The balance sheet data of Ke Company at the end of 2020 and 2019 follow: 2020...
The balance sheet data of Ke Company at the end of 2020 and 2019 follow: 2020 2019 Cash $100,000 $140,000 Accounts Receivable (net) 240,000 180,000 Inventory 280,000 180,000 Prepaid expenses 40,000 100,000 Buildings and equipment 360,000 300,000 Accumulated depreciation - buildings and equipment (72,000) (32,000) Land 360,000 160,000 Total Assets $1,308,000 $1,028,000 Accounts payable $272,000 $220,000 Accrued expenses 48,000 72,000 Mortgage payable 120,000 160,000 Common stock, $10 par 836,000 636,000 Retained earnings 32,000 (60,000) Total liabilities and equity $1,308,000 $1,028,000...
Cash flow financing activities
Fran Inc. had the following transactions during 20x7: Exchanged land for a building$764,000Purchased treasury shares160,000Paid cash dividend380,000Purchased equipment212,000Issued ordinary shares588,000 What is Fran Inc.’s net cash provided or used by financing activities?
Information for XYZ Co. Account Description December 31, 2017 December 31, 2016 Assets Cash and Cash...
Information for XYZ Co. Account Description December 31, 2017 December 31, 2016 Assets Cash and Cash Equivalents 45,000 13,000 Accounts Receivable 91,000 88,000 Equipment 139,000 22,000 Accum. Deprec. – Equipment (17,000) (11,000) Total 258,000 112,000 Liabilities & Stockholders’ Equity Accounts Payable 20,000 15,000 Bonds Payable 100,000 0 Common Stock 100,000 80,000 Retained Earnings 38,000 17,000 Total 258,000 112,000 Additional Information (A) – Net income for 2017 was $44,000. (B) – New equipment was purchased in 2017 but not was sold...
Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $244,930$229,680 82,490 244,240 94,620 88,730 250,480 128,470 215,930 700)(58,230) $924...
Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $244,930$229,680 82,490 244,240 94,620 88,730 250,480 128,470 215,930 700)(58,230) $924,260 $808,730 276,350 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $167,290 $159,320 21,030 7,280 39,630 109,990 471,480 $924,260 $808,730 16,640 9,240 49,910 187,620 493,560 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in...
Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land 2020 $29.700 55,000 64,500 14.900...
Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land 2020 $29.700 55,000 64,500 14.900 90,200 (18,040) 69,800 $306,060 2019 $34,800 45,000 45.100 24,900 75,600 (8,000) 40.100 $257.500 Accounts payable Accrued expenses Notes payable--bank, long-term Bonds payable Common stock, $10 par Retained earnings $64,700 14,800 -0- 30,300 189,100 7.160 $306,060 $52.500 17,800 23,200 -0- 159.400 4,600 $257,500 Land was acquired for $29,700 in exchange for common stock, par $29,700, during the year; all equipment purchased was for cash. Equipment...
Indirect Method - Cash flow statement Sean Seymour Company Comparative balance sheet - December 31 Assets: &nbs
Indirect Method - Cash flow statement Sean Seymour Company Comparative balance sheet - December 31 Assets: 20x2 20x1 Cash $26,000 $13,000 Accounts receivable 18,000 14,000 Inventories 38,000 35,000 Property, Plant & Equip. 70,000 78,000 Accumulated depreciation ( 30,000) ( 24,000) 122,000 116,000 Liabilities & Stockholders’ Equity: Accounts payable 29,000 33,000 Income taxes payable 15,000 20,000 Bonds payable 20,000 10,000 Common stock 25,000 25,000 Retained earnings 33,000 28,000 122,000 116,000 Sean Seymour Co. Income statement for the year ended 12/31/x2 Sales $240,000 Less: COGS 180,000 Selling 28,000 Admin expenses 6,000 Income taxes 7,000 Interest expense 2,000 223,000 Net Income 17,000 Dividends of $12,000 were declared and paid During the year, equipment was...
please help on all 3 Cash $29,800 55,100 $34,800 Accounts receivable (net) 44,800 Inventory 65,400 45,100...
please
help on all 3
Cash $29,800 55,100 $34,800 Accounts receivable (net) 44,800 Inventory 65,400 45,100 Prepaid expenses Equipment Accumulated depreciation-equipment 15,200 25,100 89,200 74,200 (7,900) 40,400 $256,500 (17,840) Land 70,700 $307,560 $65,500 15,100 Accounts payable $52,000 Accrued expenses 18,100 Notes payable-bank, long-term Bonds payable Common stock, $10 par -0- 23,100 30,000 -0- 188,100 157,800 Retained earnings 8,860 5,500 $256,500 $307,560 Land was acquired for $30,300 in exchange for common stock, par $30,300, during the year; all equipment purchased was...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
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 of $45,500 were declared and paid.
3.
Bonds...
Problem 8 The balance sheet data of Naley Company at the end of 2019 and 2018 follow: 2019 2018 $_50.000 Cash Accounts receivable (net) $ 70,000 90,000 120,000 Merchandise inventory 140,000 Prepaid expenses Buildings and equipment 90,000 50,000 150,000 180,000 (36,000) Accumulated depreciation-buildings and equipment Land Totals Accounts payable Accrued expenses Notes payable-bank, long-term Mortgage payable $654.000 $136,000 24,000 (16,000) 80,000 $514.000 $110,000 36,000 80,000 60,000 418,000 318,000 Common stock, $10 par Retained earnings (deficit) 16,000 $654.000 30,000) $514.000 Land...
Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $244,930$229,680 82,490 244,240 94,620 88,730 250,480 128,470 215,930 700)(58,230) $924,260 $808,730 276,350 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $167,290 $159,320 21,030 7,280 39,630 109,990 471,480 $924,260 $808,730 16,640 9,240 49,910 187,620 493,560 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in...
Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land 2020 $29.700 55,000 64,500 14.900 90,200 (18,040) 69,800 $306,060 2019 $34,800 45,000 45.100 24,900 75,600 (8,000) 40.100 $257.500 Accounts payable Accrued expenses Notes payable--bank, long-term Bonds payable Common stock, $10 par Retained earnings $64,700 14,800 -0- 30,300 189,100 7.160 $306,060 $52.500 17,800 23,200 -0- 159.400 4,600 $257,500 Land was acquired for $29,700 in exchange for common stock, par $29,700, during the year; all equipment purchased was for cash. Equipment...
please
help on all 3
Cash $29,800 55,100 $34,800 Accounts receivable (net) 44,800 Inventory 65,400 45,100 Prepaid expenses Equipment Accumulated depreciation-equipment 15,200 25,100 89,200 74,200 (7,900) 40,400 $256,500 (17,840) Land 70,700 $307,560 $65,500 15,100 Accounts payable $52,000 Accrued expenses 18,100 Notes payable-bank, long-term Bonds payable Common stock, $10 par -0- 23,100 30,000 -0- 188,100 157,800 Retained earnings 8,860 5,500 $256,500 $307,560 Land was acquired for $30,300 in exchange for common stock, par $30,300, during the year; all equipment purchased was...
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 of $45,500 were declared and paid.
3.
Bonds...
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