Prepare Statement of cash flows for current year using indirect method.
Homework Answers
Answer-
| DYNAMIC DRONES | ||
| STATEMENT OF CASH FLOWS (USING INDIRECT METHOD) | ||
| FOR THE YEAR ENDED 31 DECEMBER,2019 | ||
| Particulars | Amount | |
| $ | ||
| Cash flow from operating activities | ||
| Net Income | 101400 | |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Adjustment for non cash effects | ||
| Depreciation | 20000 | |
| Gain on sale of investments | -3000 | |
| Change in operating assets & liabilities | ||
| Increase in accounts receivable | -40000 | |
| Increase in inventory | -40000 | |
| Increase in prepaid rent | -10000 | |
| Increase in accounts payable | 110000 | |
| Decrease in Unearned Revenue | -10000 | |
| Increase in salaries payable | 10000 | |
| Net cash flow from operating activities (a) | 138400 | |
| Cash Flow from Investing activities | ||
| New equipment purchased | -170000 | |
| Equipment sold | 11600 | |
| Net cash Flow from Investing activities (b) | -158400 | |
| Cash Flow from Financing activities | ||
| Cash dividends paid | -71400 | |
| Common stock issued | 71400 | |
| Net cash Flow from Financing activities (c) | 0 | |
| Net Change in cash c=a+b+c | -20000 | |
| Beginning cash balance | 80000 | |
| Closing cash balance | 60000 | |
| Schedule of non cash investing & financing activities | ||
| Issuance of long term note for equipment | 50000 | |
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Prepare Statement of cash flows for current year using indirect
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Prepare a Statement of Cash Flow for the current year using
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Prepare a Cash Flow statement using indirect method
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Prepare a statement of Cash Flow for the current year using
the indirect method
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 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...
Prepare a Statement of Cash Flow for the current year using
the indirect method
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 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...
Prepare a Statement of Cash Flows for the current year using the
indirect method.
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...
Prepare a Satement of Cash Flow for the current year usinf the
indirect method.
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 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...
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 $ $...
Pepare a Cash Flow Statement using the indirect method. (all
information is given).
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 Assets 2019 2018 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...
Prepare a statement of cash flows using indirect method
A comparative balance sheet for Josten Corporation is presented below Josten Corporation Comparative Balance Sheets 2017 $33,000 14,000 25,000 78,000 24,000) 126,000 018 sets ash ccounts receivables $24,000 25,000 41,000 69,000 (26,000) 133,000 Inventory Property, Plant, & Equipment ccum. Depreciation Total Assets Liabilities and Stockholders' Equit 43,000 20,000 10,000 ccounts payable Income Taxes payable Bonds payable Common stock Retained earnings $30,000 25,000 20,000 25,000 33,000 133,000 25,000 28,000 Total Liab. And...
Using vertical analysis, prepare and Income Satement. (this is
all the infomation) (indirect method)
Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 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...
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