Homework Answers
Ans is 85000
Current year income 100000
Less Current assets - 40000
Add current liabilities- 25000
= 85000
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Azuna Corp. began operations during the current year. The following is Azuna's balance sheet at December...
1) (5 points total) Buffalo Corp's Balance Sheet and Income Statement are provided below, as well...
1) (5 points total) Buffalo Corp's Balance Sheet and Income Statement are provided below, as well as some additional information. Buffalo Corp is a US-based company and reports under US GAAP. Balance Sheet on December 31 Assets Cash Accounts Receivable Prepaid Expenses Inventory Long-Term Investments Property and Equipment Less: Accumulated Depreciation 2019 68,000 42,000 13,000 63,000 75,000 235,000 80,000 2018 45,000 65,000 10,000 53,000 60,000 180,000 50,000 Net Property and Equipment 155,000 130,000 Goodwill 25,000 25,000 Total Assets 441,000 388,000...
The comparative balance sheet for SeawaySeaway Travel Services, Inc., for December 31, 2017 and 2016 is...
The comparative balance sheet for SeawaySeaway Travel Services, Inc., for December 31, 2017 and 2016 is as follows: Seaway Travel Services, Inc. Comparative Balance Sheets December 31, 2017 and 2016 Assets 2017 2016 Current assets: Cash $45,000 $19,000 Accounts receivable 78,000 82,000 Inventory 63,000 22,000 Prepaid insurance 9,000 10,000 Total current assets $195,000 $133,000 Land $110,000 $115,000 Equipment 78,000 61,000 Less: Accumulated depreciation (14,000) (9,000) Total assets $369,000 $300,000 Liabilities Current liabilities: Accounts payable $23,000 $35,000 Wages payable 34,000 25,000...
1) (5 points total) Buffalo Corp's Balance Sheet and Income Statement are provided below, as well...
1) (5 points total) Buffalo Corp's Balance Sheet and Income Statement are provided below, as well as some additional information. Buffalo Corp is a US-based company and reports under US GAAP. 68,000 Balance Sheet on December 31 Assets Cash Accounts Receivable Prepaid Expenses Inventory Long-Term Investments Property and Equipment Less: Accumulated Depreciation 2019 2018 45,000 42,000 65,000 13,000 10,000 63,000 53,000 75,000 60,000 235,000 180,000 80,000 50,000 Net Property and Equipment 155,000 130,000 Goodwill 25,000 25,000 Total Assets 441,000 388,000...
The current sections of Donny Inc.'s balance sheets at December 31, 2019 and 2020, are presented...
The current sections of Donny Inc.'s balance sheets at December 31, 2019 and 2020, are presented below. Donny's net income for 2020 was $203,000 Depreciation expense was $25,000 2020 2019 Current Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets $ 115,000 105,000 154,000 27 000 $ 401,000 $ 99,000 89,000 172,000 21,000 $ 381,000 Current Liabilities: Accrued Expenses Payable Accounts Payable Total Curent Liabilities $ 15,000 85,000 $ 100,000 $ 5,000 93.000 $ 98,000 Net cash inflows from...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 58,000 $ 51,000 Accounts receivable 37,000 40,800 Inventory 85,000 88,800 Total current assets 180,000 180,600 Property, plant, and equipment 412,000 375,000 Less accumulated depreciation 192,000 150,000 Net property, plant, and equipment 220,000 225,000 Total assets $ 400,000 $ 405,600 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 36,000 $ 38,800 Accrued liabilities 72,000 78,800 Income taxes payable...
Prepare a statement of cash flows based on the following financial statements: Balance Sheet 2017 2018...
Prepare a statement of cash flows based on the following
financial statements:
Balance Sheet 2017 2018 Assets Current assets Cash $5,000 $6,500 Accounts receivable $31,500 30,000 $42,000 Inventory 40,000 Total $75,000 $80,000 Fixed assets Net plant and equipment $393,750 375,000 $450,000 Total assets $473,750 Liabilities and Owners Equity Current liabilities Accounts payable $50,000 $53,750 Notes payable 25,000 $26,250 Total $75,000 $80,000 Long-term debt Owners' equity $85,000 $89,250 Common stock $60,000 $63,000 Accumulated retained 241,500 230,000 earnings Total $290,000 $304,500 Total...
cee the comparative balance sheets of Star Wars Hotel Corp., Inc. for the y 2019. orp.,...
cee the comparative balance sheets of Star Wars Hotel Corp., Inc. for the y 2019. orp., Inc. for the years 2018 and 2019 Star Wars Hotel Corp., Inc. Condensed Balance Sheets December 31, 2018 and 2019 Current assets: 2018 Cash $10,000 Marketable securities 35,000 Accounts receivable 26,500 Inventories 10,000 Prepaid Expenses 15,000 Noncurrent assets: Property, Plant & Equipment 200,000 Accumulated depreciation (20.000) Total Assets $276,500 $12,000 32,000 18,500 20,000 16,000 325,000 (64,000) $359,500 Current liabilities: Accounts payable Mortgage payable (current)...
can i pleasw have help on the comparative balance sheet Comparative Balance Sheet December 31, 2020...
can i pleasw have help on the comparative balance sheet
Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Assets Current Assets: Cash Accounts Receivable, Net Inventory (sunglasses) Prepaid Insurance Prepaid Rent Total Current Assets S $ $ $ $ $ 90,000 130,000 135,000 25,000 S $ $ S $ S 70,000 90,000 80,000 20,000 12,000 272,000 380,000 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets $ $ $ $...
[The following information applies to the questions displayed below.] Golden Corp.'s current year income statement, comparative...
[The following information applies to the questions displayed below.] Golden Corp.'s current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and...
1st Balance sheet is for Christian Corp. 2nd balance sheet is a company Christian Corp. acquired...
1st Balance sheet is for Christian Corp.
2nd balance sheet is a company Christian Corp. acquired 100% of
for Cash.
What will be the net of the cash flow statement, specifically
the operations section for Christian Corp. in 2019?
1. financial statements are as follows: [11] Balance Sheet on: Dec 31, 2019 Dec 31, 2018 | Increase -0 Cash: 120,200 | 70,000 50,200 Accounts receivable: 120,100 90,000 30,100 Inventories: 160,100 | 140,000 20,100 Property and Equipment, Cost: 190,400 | 150,000...
1) (5 points total) Buffalo Corp's Balance Sheet and Income Statement are provided below, as well as some additional information. Buffalo Corp is a US-based company and reports under US GAAP. Balance Sheet on December 31 Assets Cash Accounts Receivable Prepaid Expenses Inventory Long-Term Investments Property and Equipment Less: Accumulated Depreciation 2019 68,000 42,000 13,000 63,000 75,000 235,000 80,000 2018 45,000 65,000 10,000 53,000 60,000 180,000 50,000 Net Property and Equipment 155,000 130,000 Goodwill 25,000 25,000 Total Assets 441,000 388,000...
1) (5 points total) Buffalo Corp's Balance Sheet and Income Statement are provided below, as well as some additional information. Buffalo Corp is a US-based company and reports under US GAAP. 68,000 Balance Sheet on December 31 Assets Cash Accounts Receivable Prepaid Expenses Inventory Long-Term Investments Property and Equipment Less: Accumulated Depreciation 2019 2018 45,000 42,000 65,000 13,000 10,000 63,000 53,000 75,000 60,000 235,000 180,000 80,000 50,000 Net Property and Equipment 155,000 130,000 Goodwill 25,000 25,000 Total Assets 441,000 388,000...
The current sections of Donny Inc.'s balance sheets at December 31, 2019 and 2020, are presented below. Donny's net income for 2020 was $203,000 Depreciation expense was $25,000 2020 2019 Current Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets $ 115,000 105,000 154,000 27 000 $ 401,000 $ 99,000 89,000 172,000 21,000 $ 381,000 Current Liabilities: Accrued Expenses Payable Accounts Payable Total Curent Liabilities $ 15,000 85,000 $ 100,000 $ 5,000 93.000 $ 98,000 Net cash inflows from...
Prepare a statement of cash flows based on the following
financial statements:
Balance Sheet 2017 2018 Assets Current assets Cash $5,000 $6,500 Accounts receivable $31,500 30,000 $42,000 Inventory 40,000 Total $75,000 $80,000 Fixed assets Net plant and equipment $393,750 375,000 $450,000 Total assets $473,750 Liabilities and Owners Equity Current liabilities Accounts payable $50,000 $53,750 Notes payable 25,000 $26,250 Total $75,000 $80,000 Long-term debt Owners' equity $85,000 $89,250 Common stock $60,000 $63,000 Accumulated retained 241,500 230,000 earnings Total $290,000 $304,500 Total...
cee the comparative balance sheets of Star Wars Hotel Corp., Inc. for the y 2019. orp., Inc. for the years 2018 and 2019 Star Wars Hotel Corp., Inc. Condensed Balance Sheets December 31, 2018 and 2019 Current assets: 2018 Cash $10,000 Marketable securities 35,000 Accounts receivable 26,500 Inventories 10,000 Prepaid Expenses 15,000 Noncurrent assets: Property, Plant & Equipment 200,000 Accumulated depreciation (20.000) Total Assets $276,500 $12,000 32,000 18,500 20,000 16,000 325,000 (64,000) $359,500 Current liabilities: Accounts payable Mortgage payable (current)...
can i pleasw have help on the comparative balance sheet
Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Assets Current Assets: Cash Accounts Receivable, Net Inventory (sunglasses) Prepaid Insurance Prepaid Rent Total Current Assets S $ $ $ $ $ 90,000 130,000 135,000 25,000 S $ $ S $ S 70,000 90,000 80,000 20,000 12,000 272,000 380,000 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets $ $ $ $...
1st Balance sheet is for Christian Corp.
2nd balance sheet is a company Christian Corp. acquired 100% of
for Cash.
What will be the net of the cash flow statement, specifically
the operations section for Christian Corp. in 2019?
1. financial statements are as follows: [11] Balance Sheet on: Dec 31, 2019 Dec 31, 2018 | Increase -0 Cash: 120,200 | 70,000 50,200 Accounts receivable: 120,100 90,000 30,100 Inventories: 160,100 | 140,000 20,100 Property and Equipment, Cost: 190,400 | 150,000...
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