Homework Answers
| ORGANIC DEVELOPMENT | |||
| Cash Flow Statements | |||
| For the year ended October 31, 2016 | |||
| Cash flow from operating activities | |||
| Cash received from customers | $ 10,50,000 | 1040000+68000-58000 | |
| Cash paid to suppliers | $ -4,98,000 | 520000+40000-82000+180000-160000 | |
| Cash paid for advertising expenses | $ -30,000 | ||
| Cash paid for Wage expenses | $ -1,44,000 | ||
| Cash paid for Utilities expenses | $ -12,000 | ||
| Cash paid for Rent expenses | $ -26,000 | ||
| Net cash provided by operating activities | $ 3,40,000 | ||
| Cash flow from investing activities | |||
| Cash received from sale of equipment | $ 6,000 | ||
| Cash paid to purchase equipment | $ -2,14,000 | 540000-620000-134000 | |
| Net cash used by investing activities | $ -2,08,000 | ||
| Cash flow from financing activities | |||
| Cash paid for bank loan | $ -60,000 | 74000-120000-14000 | |
| Cash received from Bank loan | $ 14,000 | ||
| Cash paid for dividends | $ -74,000 | 240000-68000-240000+30000-36000 | |
| Net cash used by financing activities | $ -1,20,000 | ||
| Net increase in cash | $ 12,000 | ||
| Cash at the beginning of the year | $ 36,000 | ||
| Cash at the end of the year | $ 48,000 | ||
| Non cash investing and financing activities | |||
| Land acquired by issuing common stock | $ 1,20,000 | ||
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AP5-9 (Prepare statement of cash flows) Organic Developments Ltd. (ODL) is an importer of organic produce...
Application Problem 5-5A a-b (Part Level Submission) Organic Developments Ltd. (ODL) is an importer of organic...
Application Problem 5-5A a-b (Part Level Submission) Organic Developments Ltd. (ODL) is an importer of organic produce from California. The company has been experiencing significant growth and is preparing to approach the bank for a loan to acquire additional capital assets. As CFO, you are tasked with preparing the statement of cash flows that is required as part of the loan application. You have the statement of financial position and the statement of income to help you prepare the statement...
The comparative unclassified statement of financial position for Puffy Ltd. follows: PUFFY LTD. Statement of Financal...
The comparative unclassified statement of financial position for Puffy Ltd. follows: PUFFY LTD. Statement of Financal Position Assets Cash Accounts receivable Merchandise inventory Land Equipment Accumulated depreciation Total assets 2015 2014 $58,910 $21,540 70,440 182,130 187,670 70,500 100,110 263,300 201,530 66,620) _(31.650) $584,280 $549,640 76,060 Liabilities and Shareholders' Equity Accounts payable Bank loan payable Common shares Retained earnings Total liabilities and shareholders' equity $584,280$549,640 $38,080 46,610 140,420 196,240 201,430 174,390 204,350 132,400 Additional information: 1. 2. 3. 4. 5. 6....
can you expain with steps? The comparative, unclassified statement of financial position for Sunland Ltd. shows...
can
you expain with steps?
The comparative, unclassified statement of financial position for Sunland Ltd. shows the following balances at December 31: Cash $0 Sunland Ltd. Statement of Financial Position December 31 Assets 2018 2017 $ 43,000 Accounts receivable 22,000 37,000 Inventory 35,000 57,000 Land 96,000 105,000 Buildings 523,000 259,000 Accumulated depreciation-buildings (72,000) (104,000) Equipment 75,000 38,000 Accumulated depreciation-equipment (12,000) (6,000) Total assets $710,000 $386,000 Liabilities and Shareholders' Equity Bank overdraft $0 $11,000 Accounts payable $ 42,000 $ 21,000 Income...
The comparative unclassified statement of financial position for Blossom Ltd. follows: BLOSSOM LTD. Statement of Financial...
The comparative unclassified statement of financial position for Blossom Ltd. follows: BLOSSOM LTD. Statement of Financial Position December 31 Assets 2018 Cash $51,000 Accounts receivable 88,000 Inventory 177,000 Long-term investments 70,000 Equipment 280,000 Accumulated depreciation (66,000) Total assets $600,000 2017 $27,000 60,000 194,500 145,000 154,000 (34,000) $546,500 Liabilities and Shareholders' Equity Accounts payable $37,000 Bank loan payable 125,000 Common shares 219,000 Retained earnings 219,000 Total liabilities and shareholders' equity $600,000 $ 49,500 185,000 175,000 137,000 $546,500 Additional information: 1. Net...
help me finish off this question please The following information is for Harley Holdings Ltd. for...
help me finish off this question please
The following information is for Harley Holdings Ltd. for the year ended January 31, 2020. HARLEY HOLDINGS LTD. Statement of Financial Position As at January 31 2020 2019 Assets Current assets: Cash $57,000 $41,610 Accounts receivable 98,950 62,700 Inventory 108,980 115,940 Total current assets 264,930 220,250 Equipment 199,500 165,300 Accumulated depreciation, equipment (49,590) (44,460) Land 136,800 193,800 $551,640 $534,890 Liabilities and shareholders' equity Current liabilities: Accounts payable $51,640 $70,910 Dividends payable 14,820 5,700...
he comparative, unclassified statement of financial position for Ivanhoe Ltd. shows the following balances at December...
he comparative, unclassified statement of financial position for
Ivanhoe Ltd. shows the following balances at December 31:
Ivanhoe
Ltd.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$ 16,000
$ 38,000
Term deposits (maturing in 60
days)
0
46,000
Accounts receivable
77,000
40,000
Inventory
104,000
68,000
Land
187,000
234,000
Buildings
908,000
529,000
Accumulated
depreciation—buildings
(134,000
)
(188,000
)
Equipment
96,000
67,000
Accumulated
depreciation—equipment
(39,000
)
(21,000
)
Total assets
$1,215,000
$813,000
Liabilities and
Shareholders’ Equity
Accounts payable
$...
The following information is for Harley Holdings Ltd. for the year ended January 31, 2020. HARLEY...
The following information is for Harley Holdings Ltd. for the year ended January 31, 2020. HARLEY HOLDINGS LTD. Statement of Financial Position As at January 31 2019 2020 Assets Current assets: $45,000 $32,850 49,500 Cash 78,120 Accounts receivable 86,040 91,530 Inventory 209,160 173,880 Total current assets 157,500 130,500 Equipment Accumulated depreciation, equipment (39,150) (35,100) 108,000 153,000 Land $435,510 $422,280 Liabilities and shareholders' equity Current liabilities: Accounts payable Dividends payable $40,770 $55,980 11,700 4,500 52,470 60,480 Total current liabilities 90,000 126,000...
The comparative, unclassified statement of financial position for Ivanhoe Ltd. shows the following balances at December...
The comparative, unclassified statement of financial position
for Ivanhoe Ltd. shows the following balances at December
31:
Ivanhoe
Ltd.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$ 18,000
$ 39,000
Term deposits (maturing in 60
days)
0
41,000
Accounts receivable
78,000
41,000
Inventory
104,000
73,000
Land
185,000
230,000
Buildings
902,000
525,000
Accumulated
depreciation—buildings
(137,000
)
(191,000
)
Equipment
104,000
74,000
Accumulated
depreciation—equipment
(38,000
)
(19,000
)
Total assets
$1,216,000
$813,000
Liabilities and
Shareholders’ Equity
Accounts payable
$...
The following information is for Harley Holdings Ltd. for the year ended January 31, 2020. HARLEY...
The following information is for Harley Holdings Ltd. for the year ended January 31, 2020. HARLEY HOLDINGS LTD. Statement of Financial Position As at January 31 2020 2019 Assets Current assets: Cash $40,000 $29,200 Accounts receivable 69,440 44,000 Inventory 76,480 81,360 Total current assets 185,920 154,560 Equipment 140,000 116,000 Accumulated depreciation, equipment (34,800) (31,200) Land 96,000 136,000 $387,120 $375,360 Liabilities and shareholders' equity Current liabilities: Accounts payable $36,240 $49,760 Dividends payable 10,400 4,000 Total current liabilities 46,640 53,760 Bank loan...
Prepare a classified statement of financial position. Assume that $10,880 of the bank loan payable will...
Prepare a classified statement of financial position. Assume
that $10,880 of the bank loan payable will be paid in 2019.
(List Property, plant and equipment in order of land,
buildings and equipment. List Current Assets in order of
liquidity.)
Buildings $84.640 Accounts receivable 10.080 Prepaid insurance 3,744 Cash 9,472 Equipment 65,920 Land 48,960 Office expense 464 Income tax expense 160 Depreciation expense 4,240 Interest expense 2,080 Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building 49.600 32,000 36,480 Accounts payable...
Application Problem 5-5A a-b (Part Level Submission) Organic Developments Ltd. (ODL) is an importer of organic produce from California. The company has been experiencing significant growth and is preparing to approach the bank for a loan to acquire additional capital assets. As CFO, you are tasked with preparing the statement of cash flows that is required as part of the loan application. You have the statement of financial position and the statement of income to help you prepare the statement...
The comparative unclassified statement of financial position for Puffy Ltd. follows: PUFFY LTD. Statement of Financal Position Assets Cash Accounts receivable Merchandise inventory Land Equipment Accumulated depreciation Total assets 2015 2014 $58,910 $21,540 70,440 182,130 187,670 70,500 100,110 263,300 201,530 66,620) _(31.650) $584,280 $549,640 76,060 Liabilities and Shareholders' Equity Accounts payable Bank loan payable Common shares Retained earnings Total liabilities and shareholders' equity $584,280$549,640 $38,080 46,610 140,420 196,240 201,430 174,390 204,350 132,400 Additional information: 1. 2. 3. 4. 5. 6....
can
you expain with steps?
The comparative, unclassified statement of financial position for Sunland Ltd. shows the following balances at December 31: Cash $0 Sunland Ltd. Statement of Financial Position December 31 Assets 2018 2017 $ 43,000 Accounts receivable 22,000 37,000 Inventory 35,000 57,000 Land 96,000 105,000 Buildings 523,000 259,000 Accumulated depreciation-buildings (72,000) (104,000) Equipment 75,000 38,000 Accumulated depreciation-equipment (12,000) (6,000) Total assets $710,000 $386,000 Liabilities and Shareholders' Equity Bank overdraft $0 $11,000 Accounts payable $ 42,000 $ 21,000 Income...
The comparative unclassified statement of financial position for Blossom Ltd. follows: BLOSSOM LTD. Statement of Financial Position December 31 Assets 2018 Cash $51,000 Accounts receivable 88,000 Inventory 177,000 Long-term investments 70,000 Equipment 280,000 Accumulated depreciation (66,000) Total assets $600,000 2017 $27,000 60,000 194,500 145,000 154,000 (34,000) $546,500 Liabilities and Shareholders' Equity Accounts payable $37,000 Bank loan payable 125,000 Common shares 219,000 Retained earnings 219,000 Total liabilities and shareholders' equity $600,000 $ 49,500 185,000 175,000 137,000 $546,500 Additional information: 1. Net...
help me finish off this question please
The following information is for Harley Holdings Ltd. for the year ended January 31, 2020. HARLEY HOLDINGS LTD. Statement of Financial Position As at January 31 2020 2019 Assets Current assets: Cash $57,000 $41,610 Accounts receivable 98,950 62,700 Inventory 108,980 115,940 Total current assets 264,930 220,250 Equipment 199,500 165,300 Accumulated depreciation, equipment (49,590) (44,460) Land 136,800 193,800 $551,640 $534,890 Liabilities and shareholders' equity Current liabilities: Accounts payable $51,640 $70,910 Dividends payable 14,820 5,700...
he comparative, unclassified statement of financial position for
Ivanhoe Ltd. shows the following balances at December 31:
Ivanhoe
Ltd.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$ 16,000
$ 38,000
Term deposits (maturing in 60
days)
0
46,000
Accounts receivable
77,000
40,000
Inventory
104,000
68,000
Land
187,000
234,000
Buildings
908,000
529,000
Accumulated
depreciation—buildings
(134,000
)
(188,000
)
Equipment
96,000
67,000
Accumulated
depreciation—equipment
(39,000
)
(21,000
)
Total assets
$1,215,000
$813,000
Liabilities and
Shareholders’ Equity
Accounts payable
$...
The following information is for Harley Holdings Ltd. for the year ended January 31, 2020. HARLEY HOLDINGS LTD. Statement of Financial Position As at January 31 2019 2020 Assets Current assets: $45,000 $32,850 49,500 Cash 78,120 Accounts receivable 86,040 91,530 Inventory 209,160 173,880 Total current assets 157,500 130,500 Equipment Accumulated depreciation, equipment (39,150) (35,100) 108,000 153,000 Land $435,510 $422,280 Liabilities and shareholders' equity Current liabilities: Accounts payable Dividends payable $40,770 $55,980 11,700 4,500 52,470 60,480 Total current liabilities 90,000 126,000...
The comparative, unclassified statement of financial position
for Ivanhoe Ltd. shows the following balances at December
31:
Ivanhoe
Ltd.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$ 18,000
$ 39,000
Term deposits (maturing in 60
days)
0
41,000
Accounts receivable
78,000
41,000
Inventory
104,000
73,000
Land
185,000
230,000
Buildings
902,000
525,000
Accumulated
depreciation—buildings
(137,000
)
(191,000
)
Equipment
104,000
74,000
Accumulated
depreciation—equipment
(38,000
)
(19,000
)
Total assets
$1,216,000
$813,000
Liabilities and
Shareholders’ Equity
Accounts payable
$...
The following information is for Harley Holdings Ltd. for the year ended January 31, 2020. HARLEY HOLDINGS LTD. Statement of Financial Position As at January 31 2020 2019 Assets Current assets: Cash $40,000 $29,200 Accounts receivable 69,440 44,000 Inventory 76,480 81,360 Total current assets 185,920 154,560 Equipment 140,000 116,000 Accumulated depreciation, equipment (34,800) (31,200) Land 96,000 136,000 $387,120 $375,360 Liabilities and shareholders' equity Current liabilities: Accounts payable $36,240 $49,760 Dividends payable 10,400 4,000 Total current liabilities 46,640 53,760 Bank loan...
Prepare a classified statement of financial position. Assume
that $10,880 of the bank loan payable will be paid in 2019.
(List Property, plant and equipment in order of land,
buildings and equipment. List Current Assets in order of
liquidity.)
Buildings $84.640 Accounts receivable 10.080 Prepaid insurance 3,744 Cash 9,472 Equipment 65,920 Land 48,960 Office expense 464 Income tax expense 160 Depreciation expense 4,240 Interest expense 2,080 Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building 49.600 32,000 36,480 Accounts payable...
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