Prepare a Statement of Cash Flow for ABC Company for the year ended December 31, 2018
Homework Answers
|
ABC COMPANY |
||
|
Cash Flow Statement |
||
|
For the year ended December 31 2018 |
||
|
A. Cash Flows from Operating Activity |
||
|
Net Income |
$ 290.00 |
|
|
Adjustments to reconcile net income to net cash flows from operating activities |
||
|
Depreciation expense |
$ 210.00 |
|
|
Gain on sale of Equipment |
$ (100.00) |
|
|
Change in Current operating Assets and Liabilities |
||
|
Decrease in Accounts receivables |
$ 780.00 |
|
|
Decrease in prepayments |
$ 100.00 |
|
|
Increase in accounts payable |
$ 90.00 |
|
|
Decrease in Other Current liabilities |
$ (240.00) |
|
|
Decrease in Inventory |
$ 80.00 |
|
|
$ 920.00 |
||
|
Net cash flow from Operating activities |
$ 1,210.00 |
|
|
B. Cash flows from Investing Activities |
||
|
Purchase of Equipment |
$ (750.00) |
|
|
Sale of Equipment |
$ 600.00 |
|
|
Net Cash flows from Investing activities |
$ (150.00) |
|
|
C. Cash Flows from Financing activities |
||
|
Cash received from stock issuance |
$ 500.00 |
|
|
Cash flows from Financing activities |
$ 500.00 |
|
|
Net Increase (Decrease) in Cash [A+B+C] |
$ 1,560.00 |
|
|
Cash at the beginning of the period |
$ 50.00 |
|
|
Cash at the end of the period |
$ 1,610.00 |
|
General notes for cash flow
Cash is increased when Current liability increase or Current asset Decrease.
Cash is Decreased when Current liability Decrease or Current asset Increase.
Depreciation or loss on sale of any asset is a non cash expense hence it will be added to net income to get operating cash
Profit on sale of asset or investment is a non cash profit and hence will be deducted from operating income.
Add Answer to:
Prepare a Statement of Cash Flow for ABC Company for the year
ended December 31, 2018...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: Changes in current operating assets and liabilities Depreciation expense Decrease in accounts receivable Decrease in accounts payable Decrease in salaries payable Increase in inventory Net cash used in operating activities Cash flows from investing activities 0) Cash flows from financing activities 0 0 Cash balance at beginning of...
Prepare a cash flow statement using the indirect method for 2018: ABC Company Balance Sheet(s) 31-Dec...
Prepare a cash flow statement using the indirect method for
2018:
ABC Company Balance Sheet(s) 31-Dec
No purchase of investments was made during the year. Investments
with a cost of $7,000 were sold for $9,200. Land with a cost of
$80,000 and buildings for $130,000 were acquired. During the year,
the company disposed of equipment that had an original cost $55,000
and accumulated depreciation of $48,500. The equipment was sold for
$1,500. The company also purchased equipment for $200,000
Cash...
1. Prepare the statement of cash flows for the year ended December 31, 2017, using the...
1. Prepare the statement of cash flows for the
year ended December 31, 2017, using the indirect method.
(Amounts to be deducted should be
indicated by a minus sign.)
Heads Up Company was started several years ago by two hockey instructors. The company's comparative balance sheets and income statement are provided below, along with additional information. 2017 2016 Balance Sheet at December 31 Cash Accounts Receivable Equipment Less: Accumulated Depreciation $ 6,000 1,000 5,500 (1,500) $ 4,000 1,750 5,000 (1,250)...
Spreadsheet for Statement of Cash Flows Year Ended December 31, 2018 Transaction Analysis Balance Balance 12/31/2017 Pa...
Spreadsheet for Statement of Cash Flows Year Ended December 31, 2018 Transaction Analysis Balance Balance 12/31/2017 Panel A Balance Sheet: DEBIT CREDIT 12/31/2018 Cash Accounts Receivable 15,300 4,330 14,600 (500) 33,730 19,800 5,330 16,300 (700) Plant Assets 1,700 Accumulated Depreciation 40,730 Total Assets Accounts Payable 6,700 5,400 Common Stock, no par 5,300 28,130 22,830 4,200 33,730 5,500 Retained Earnings 7,200 40,730 Total Liabilities and Stockholders' Equity Panel B_Statement of Cash Flows: 200 Cash Flows from Operating Activities: Net Income Adjustments...
Prepare a Cash Flow Statement. Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018...
Prepare a Cash Flow Statement.
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2018 2019 $ Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 $ Property, plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets $ $ $ $ 500,000 (80,000) 420,000 809,700 $ $...
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue...
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 717,000 340,000 377,000 Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense $ 46,000 180,000 Other Operating Expenses Total Operating Expenses 226,000 $ 151,000 Net Income i Data Table Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash Accounts Receivable 18,000 $ 56,000 83,000 14,000 49,000 86,000 Merchandise Inventory Long-term Assets: Plant Assets...
ABC Company, LLC Income Statement For the Year Ended December 31, 2016 (Actual Dollars) SALES 3,315,938...
ABC Company, LLC Income Statement For the Year Ended December 31, 2016 (Actual Dollars) SALES 3,315,938 640,652 COST OF SALES GROSS PROFIT OPERATING EXPENSES: Advertising Auto and Truck Expenses Bank Service Charges Credit Card Fees Depreciation Insurance Legal and Accounting Miscellaneous Payroll Taxes Rent Repairs and Maintenance Supplies Travel Utilities Wages Total Operating Expenses OPERATING INCOME (LOSS) 5,264 3,686 3,158 16,621 8,436 24,511 15,943 10,963 29,931 36,000 34,370 35,748 7,071 28,338 199,537 2009 6,237 INTEREST EXPENSE NET INCOME BEFORE TAXES...
Prepare a statement of cash flows for the year ended December 31, 2018 using the indirect...
Prepare a statement of cash flows for the year ended December
31, 2018 using the indirect method.
We were unable to transcribe this imageF 17.492.51 2 ABC 23 Less: Expenses 24 Depreciation Expense 25 Insurance Expense 26 Interest Expense 27 Office Supplies Expense 28 Payroll Tax Expense 29 Postage Expense 30 Total Expenses 31 32 Net Profit 4,589.90 1,439.58 118.08 1,273.05 47.97 0.00 4,237.20 0.00 115.20 1,242.00 46.80 24,961.09 5,641.20 137,288.38 153,577.80 Balance Sheet At December 31, 2017 and 2018...
ABC Company, LLC Income Statement For the Year Ended December 31, 2016 (Actual Dollars) SALES $...
ABC Company, LLC Income Statement For the Year Ended December 31, 2016 (Actual Dollars) SALES $ 3,315,938 COST OF SALES GROSS PROFIT 640,652 OPERATING EXPENSES: Advertising Auto and Truck Expenses Bank Service Charges Credit Card Fees Depreciation Insurance Legal and Accounting Miscellaneous Payroll Taxes Rent Repairs and Maintenance Supplies Travel Utilities Wages Total Operating Expenses 5.264 3,686 3,158 16.621 8.436 24,511 15.943 10.963 29,931 36,000 34,370 35,748 7,071 28.338 199.537 $ OPERATING INCOME (LOSS) INTEREST EXPENSE 6,237 NET INCOME BEFORE...
61,600 Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities. Net...
61,600 Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities. Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense-Plant Assels Decrease in Accounts Receivable Increase in Merchandise Inventory Increase in Accounts Payable 16,800 5,900 (2,900) 1,300 (1.500) 19.600 Decrease in Accrued Liabilities Nel Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: 200 s/Ma Net Cash Provided by (Used for) Investing Activites Choose...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: Changes in current operating assets and liabilities Depreciation expense Decrease in accounts receivable Decrease in accounts payable Decrease in salaries payable Increase in inventory Net cash used in operating activities Cash flows from investing activities 0) Cash flows from financing activities 0 0 Cash balance at beginning of...
Prepare a cash flow statement using the indirect method for
2018:
ABC Company Balance Sheet(s) 31-Dec
No purchase of investments was made during the year. Investments
with a cost of $7,000 were sold for $9,200. Land with a cost of
$80,000 and buildings for $130,000 were acquired. During the year,
the company disposed of equipment that had an original cost $55,000
and accumulated depreciation of $48,500. The equipment was sold for
$1,500. The company also purchased equipment for $200,000
Cash...
1. Prepare the statement of cash flows for the
year ended December 31, 2017, using the indirect method.
(Amounts to be deducted should be
indicated by a minus sign.)
Heads Up Company was started several years ago by two hockey instructors. The company's comparative balance sheets and income statement are provided below, along with additional information. 2017 2016 Balance Sheet at December 31 Cash Accounts Receivable Equipment Less: Accumulated Depreciation $ 6,000 1,000 5,500 (1,500) $ 4,000 1,750 5,000 (1,250)...
Spreadsheet for Statement of Cash Flows Year Ended December 31, 2018 Transaction Analysis Balance Balance 12/31/2017 Panel A Balance Sheet: DEBIT CREDIT 12/31/2018 Cash Accounts Receivable 15,300 4,330 14,600 (500) 33,730 19,800 5,330 16,300 (700) Plant Assets 1,700 Accumulated Depreciation 40,730 Total Assets Accounts Payable 6,700 5,400 Common Stock, no par 5,300 28,130 22,830 4,200 33,730 5,500 Retained Earnings 7,200 40,730 Total Liabilities and Stockholders' Equity Panel B_Statement of Cash Flows: 200 Cash Flows from Operating Activities: Net Income Adjustments...
Prepare a Cash Flow Statement.
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2018 2019 $ Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 $ Property, plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets $ $ $ $ 500,000 (80,000) 420,000 809,700 $ $...
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 717,000 340,000 377,000 Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense $ 46,000 180,000 Other Operating Expenses Total Operating Expenses 226,000 $ 151,000 Net Income i Data Table Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash Accounts Receivable 18,000 $ 56,000 83,000 14,000 49,000 86,000 Merchandise Inventory Long-term Assets: Plant Assets...
ABC Company, LLC Income Statement For the Year Ended December 31, 2016 (Actual Dollars) SALES 3,315,938 640,652 COST OF SALES GROSS PROFIT OPERATING EXPENSES: Advertising Auto and Truck Expenses Bank Service Charges Credit Card Fees Depreciation Insurance Legal and Accounting Miscellaneous Payroll Taxes Rent Repairs and Maintenance Supplies Travel Utilities Wages Total Operating Expenses OPERATING INCOME (LOSS) 5,264 3,686 3,158 16,621 8,436 24,511 15,943 10,963 29,931 36,000 34,370 35,748 7,071 28,338 199,537 2009 6,237 INTEREST EXPENSE NET INCOME BEFORE TAXES...
Prepare a statement of cash flows for the year ended December
31, 2018 using the indirect method.
We were unable to transcribe this imageF 17.492.51 2 ABC 23 Less: Expenses 24 Depreciation Expense 25 Insurance Expense 26 Interest Expense 27 Office Supplies Expense 28 Payroll Tax Expense 29 Postage Expense 30 Total Expenses 31 32 Net Profit 4,589.90 1,439.58 118.08 1,273.05 47.97 0.00 4,237.20 0.00 115.20 1,242.00 46.80 24,961.09 5,641.20 137,288.38 153,577.80 Balance Sheet At December 31, 2017 and 2018...
ABC Company, LLC Income Statement For the Year Ended December 31, 2016 (Actual Dollars) SALES $ 3,315,938 COST OF SALES GROSS PROFIT 640,652 OPERATING EXPENSES: Advertising Auto and Truck Expenses Bank Service Charges Credit Card Fees Depreciation Insurance Legal and Accounting Miscellaneous Payroll Taxes Rent Repairs and Maintenance Supplies Travel Utilities Wages Total Operating Expenses 5.264 3,686 3,158 16.621 8.436 24,511 15.943 10.963 29,931 36,000 34,370 35,748 7,071 28.338 199.537 $ OPERATING INCOME (LOSS) INTEREST EXPENSE 6,237 NET INCOME BEFORE...
61,600 Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities. Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense-Plant Assels Decrease in Accounts Receivable Increase in Merchandise Inventory Increase in Accounts Payable 16,800 5,900 (2,900) 1,300 (1.500) 19.600 Decrease in Accrued Liabilities Nel Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: 200 s/Ma Net Cash Provided by (Used for) Investing Activites Choose...
Most questions answered within 3 hours.
-
What is the height of the tsunami in a water depth of 10 m
assuming the...
asked 42 seconds ago -
A χ2 goodness-of-fit test was used to test the hypothesis that
students at a local university...
asked 3 minutes ago -
Problem 1
You have a loan outstanding. It requires making three annual
payments at the end...
asked 5 minutes ago -
A database imposes several requirements on the structure of
tables. Which of the following is not...
asked 5 minutes ago -
A
fragment of DNA is amplified from a single molecule of template DNA
for 22 cycles....
asked 16 minutes ago -
Smartphones: A poll agency reports that 32% of teenagers aged
12-17 own smartphones. A random sample...
asked 24 minutes ago -
blood glucose level for obese patient population have
a mean of 100 with a standard deviation...
asked 53 minutes ago -
(a) A lightbulb has a resistance of 165 Ω when operating with a
potential difference of...
asked 33 minutes ago -
Questions
Submission Question 2: Stacks
Problem
Write a program that keeps track of where cars are...
asked 32 minutes ago -
Using α = 0.05, test if the mean weight change
is less than 0 if a...
asked 51 minutes ago -
JAVA
Lab -Lottery Calculator
IMPORTANT: This lab is best implemented using a loop structure.
If you...
asked 39 minutes ago -
A diver springs upward with an initial speed of 2.1 m/s from a
3.5-m board.
(a)...
asked 47 minutes ago