Homework Answers
| Amount in($) | |
| Net decrease in cash from operating activities | -100000 |
| Net decrease in cash from investing activities | -400000 |
| Net increase in cash from financing activities | 350000 |
| Net decrease in cash | -150000 |
| Add cash balance Jan 1 2020 | 600000 |
| Cash balance at December 31st 2020 | $450000 |
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Bonus Company had the following amounts in its statement of cash flows for the year ended...
The statement of cash flows for the year ended December 31, 2021, for Whiteside Incorporated is...
The statement of cash flows for the year ended December 31, 2021, for Whiteside Incorporated is presented below. $ 214,300 WHITESIDE INCORPORATED Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Cash received from customers $ 500,000 Interest on notes receivable 12,800 Dividends received 5,300 Purchase of inventory (196,000) Payment of operating expenses (91,000) Payment of interest on debt (16,800) Net cash flows from operating activities Cash flows from investing activities: Sale of...
CHENG INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from...
CHENG INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities A 5 Net Income 176,700 176,700 djustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense 29,500 Loss on Disposal of Plant Assets 7,500 Increase in Accounts Receivable Increase in Inventory T -10,100 Increase in Prepaid Expenses A T -3,400 Increase in Accounts Payable ) 43,400 Decrease in Accrued Expenses Payable T -900 | © 2000-2019 John Wiley &...
On January 1, Year 1, Moore, a fast-food company, had a balance in its Cash account...
On January 1, Year 1, Moore, a fast-food company, had a balance in its Cash account of $54,000. During the Year 1 accounting period, the company had (1) net cash inflow from operating activities of $35,600, (2) net cash outflow for investing activities of $43,000, and (3) net cash outflow from financing activities of $24,500 Required a. Prepare a statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) $ 35,600 MOORE COMPANY Statement of...
On January 1, 2018, Moore, a fast-food company, had a balance in its Cash account of...
On January 1, 2018, Moore, a fast-food company, had a balance in its Cash account of $47,400. During the 2018 accounting period, the company had (1) net cash inflow from operating activities of $29,600, (2) net cash outflow for investing activities of $37,000, and (3) net cash outflow from financing activities of $18,500. Required a. Prepare a statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) 29,600 MOORE COMPANY Statement of Cash Flows For...
The statement of cash flows for the year ended December 31, 2021, for Bronco Metals is...
The statement of cash flows for the year ended December 31, 2021, for Bronco Metals is presented below. BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Collections from customers $ 408,000 Interest on notes receivable 5,100 Dividends received from investments 3,500 Purchase of inventory (197,000) Payment of operating expenses (70,000) Payment of interest on notes payable (9,100) Net cash flows from operating activities Cash flows from investing activities: Collection of...
Sunland Corporation had the following activities in 2017. Concord Company’s income statement for the year ended...
Sunland Corporation had the following activities in
2017.
Concord Company’s income
statement for the year ended December 31, 2017, contained the
following condensed information.
Service revenue
$843,000
Operating expenses (excluding
depreciation)
$622,000
Depreciation expense
60,000
Loss on sale of
equipment
26,000
708,000
Income before income
taxes
135,000
Income tax expense
40,000
Net income
$95,000
Concord’s balance sheet contained the following comparative data at
December 31.
2017
2016
Accounts receivable
$36,000
$55,000
Accounts payable
43,000
33,000
Income taxes payable
4,200
8,200...
Cullumber Company issued the following statement of cash flows for 2020. Cullumber Company Statement of Cash...
Cullumber Company issued the following statement of cash flows for 2020. Cullumber Company Statement of Cash Flows—Indirect Method For the Year Ended December 31, 2020 Cash flows from operating activities Net income $55,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense $8,900 Loss on disposal of plant assets 8,300 Increase in inventory (4,700 ) Decrease in accounts receivable 3,000 Decrease in accounts payable (2,300 ) 13,200 Net cash provided by operating activities 68,200 Cash...
For the Year Ended December 31, 2020 Cash Flows from Operating Activities Adjustments to reconcile net...
For the Year Ended December 31, 2020 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flow from operating activities Cash Flows from Investing Activities Net cash flow from investing activities Cash Flows from Financing Activities Net cash flow from financing activities Cash at the beginning of the period Cash at the end of the period The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided...
BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from...
BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Collections from customers $ 373, eee Interest on note receivable 4,400 Dividends received from 2,800 investments Purchase of inventory (190,000) Payment of operating expenses (63, 000) Payment of interest'on note payable (8,400) Net cash flows from operating activities $118, see Cash flows from investing activities: Collection of note receivable 120, eae Purchase of equipment (194,000) Net cash flows from investing activities (74,...
The statement of cash flows for the year ended December 31, 2018, for Bronco Metals is...
The statement of cash flows for the year ended December 31, 2018, for Bronco Metals is presented below. $131,200 BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities Collections from customers $ 393,000 Interest on note receivable 4,800 Dividends received from investments 3,200 Purchase of inventory (194,000) Payment of operating expenses (67,000) Payment of interest on note payable (8,800) Net cash flows from operating activities Cash flows from investing activities: Collection...
The statement of cash flows for the year ended December 31, 2021, for Whiteside Incorporated is presented below. $ 214,300 WHITESIDE INCORPORATED Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Cash received from customers $ 500,000 Interest on notes receivable 12,800 Dividends received 5,300 Purchase of inventory (196,000) Payment of operating expenses (91,000) Payment of interest on debt (16,800) Net cash flows from operating activities Cash flows from investing activities: Sale of...
CHENG INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities A 5 Net Income 176,700 176,700 djustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense 29,500 Loss on Disposal of Plant Assets 7,500 Increase in Accounts Receivable Increase in Inventory T -10,100 Increase in Prepaid Expenses A T -3,400 Increase in Accounts Payable ) 43,400 Decrease in Accrued Expenses Payable T -900 | © 2000-2019 John Wiley &...
On January 1, Year 1, Moore, a fast-food company, had a balance in its Cash account of $54,000. During the Year 1 accounting period, the company had (1) net cash inflow from operating activities of $35,600, (2) net cash outflow for investing activities of $43,000, and (3) net cash outflow from financing activities of $24,500 Required a. Prepare a statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) $ 35,600 MOORE COMPANY Statement of...
On January 1, 2018, Moore, a fast-food company, had a balance in its Cash account of $47,400. During the 2018 accounting period, the company had (1) net cash inflow from operating activities of $29,600, (2) net cash outflow for investing activities of $37,000, and (3) net cash outflow from financing activities of $18,500. Required a. Prepare a statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) 29,600 MOORE COMPANY Statement of Cash Flows For...
The statement of cash flows for the year ended December 31, 2021, for Bronco Metals is presented below. BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Collections from customers $ 408,000 Interest on notes receivable 5,100 Dividends received from investments 3,500 Purchase of inventory (197,000) Payment of operating expenses (70,000) Payment of interest on notes payable (9,100) Net cash flows from operating activities Cash flows from investing activities: Collection of...
Sunland Corporation had the following activities in
2017.
Concord Company’s income
statement for the year ended December 31, 2017, contained the
following condensed information.
Service revenue
$843,000
Operating expenses (excluding
depreciation)
$622,000
Depreciation expense
60,000
Loss on sale of
equipment
26,000
708,000
Income before income
taxes
135,000
Income tax expense
40,000
Net income
$95,000
Concord’s balance sheet contained the following comparative data at
December 31.
2017
2016
Accounts receivable
$36,000
$55,000
Accounts payable
43,000
33,000
Income taxes payable
4,200
8,200...
For the Year Ended December 31, 2020 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flow from operating activities Cash Flows from Investing Activities Net cash flow from investing activities Cash Flows from Financing Activities Net cash flow from financing activities Cash at the beginning of the period Cash at the end of the period The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided...
BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Collections from customers $ 373, eee Interest on note receivable 4,400 Dividends received from 2,800 investments Purchase of inventory (190,000) Payment of operating expenses (63, 000) Payment of interest'on note payable (8,400) Net cash flows from operating activities $118, see Cash flows from investing activities: Collection of note receivable 120, eae Purchase of equipment (194,000) Net cash flows from investing activities (74,...
The statement of cash flows for the year ended December 31, 2018, for Bronco Metals is presented below. $131,200 BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities Collections from customers $ 393,000 Interest on note receivable 4,800 Dividends received from investments 3,200 Purchase of inventory (194,000) Payment of operating expenses (67,000) Payment of interest on note payable (8,800) Net cash flows from operating activities Cash flows from investing activities: Collection...
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