I need some guidance in constructing a Balance sheet, income statement, and cash flow statement in...
I need some guidance in constructing a Balance sheet, income statement, and cash flow statement in one file combining the 3 financial statements for a one year period. I have a rental property business. I sent in a question before, and the response was to send in the figures. I need these 3 financial Statement Combined in one page. Am I missing anything? This is what I have:
3 rental homes current value $744,000
Mortgage liability 3 homes $468.000
Rental income one year $38,100
Less vacancy rate (10%) 1 year $ 3,810
Total Yearly income $34,290
Expenses
Principle and Interest 1 year $33,396
Taxes 1 year $ 6,460
Insurance 1 year $ 4,900
Total Expenses $44,756
Assets Liabilities
Cash $12,000 Security Deposits $2,400
A/R rent due $ 3,179 Real Estate Tax $5,600
Furniture $ 2,200 Property Taxes $6,460
Computer $ 2,600 Total Current Liabilities $14,460
Vehicle $15,000 Mortgages Long Term $468,000
Rental Property $744,000 Total Liabilities $482.460
Total $779.297
Less depreciation $21,600 Owners Equity $275,237
Total Assets $757,697
Homework Answers
Income Statement
There is 1 thing that seems to be missing which is the interest rate on the mortgage. The figure of $33,396 includes both principal repayment and interest. Only the interest part will be reflected in the income statement while the principal repayment will be subtracted from "Mortgages Long Term".
Balance Sheet
The balance sheet asset side totals do not addup. Check the figures. This number also does not match with the liability side total.
Cash flow Statement
In order to compute the cash flows through indirect method, the company would need to have balance sheet figures for at least 2 years - The previous year and the current year. This is because you woukd need to compute the changes in assets and liabilities during the year in order to compute the cash flow in or out of those assets or liabilities.
If you have this data, you should be able to create a complete set of financial statements.
Add Answer to:
I need some guidance in constructing a Balance sheet, income
statement, and cash flow statement in...
Waldorf, Incorporated provided the following balance sheet, income statement, and cash flow information for the current...
Waldorf, Incorporated provided the following balance sheet, income statement, and cash flow information for the current year. (Click the icon to view the balance sheet.) (Click the icon to view the income statement.) E (Click the icon to view the cash flow information.) Requirement Prepare the statement of cash flows under the indirect method for Waldorf, Incorporated. Accrued expenses relate to Selling, Gener Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use...
Please help with this practice! I need an Income Statement, Cash Flow Statement, and a Balance...
Please help with this practice!
I need an Income Statement, Cash Flow Statement, and a Balance
Sheet created based on the info provided in this trial balance.
Thank you so much!
= = = On General A , X Cut Calibri (Body) - 11 - A- A Copy Paste BI U L9 x vfx Wrap Text Merge & Center A = Format $ % ) Conditional Format Formatting as Table Cell Styles Insert DEF н т т к Credit Credit...
Below are the income statement and comparative balance sheet of Doone Corporation for year ending Dec...
Below are the income statement and comparative balance sheet of Doone Corporation for year ending Dec 31, 2019 is given below. All amounts in Canadian dollars. Required: Prepare the cashflow statement, clearly including operating, financing and investing activities up to the net change in cash using the Indirect method as of Dec 31, 2019. Doone Corporation Income Statement For the Year ended Dec 31, 2019 Sales Revenue 880,000 Less: Cost of Goods Sold 520.000 Gross Profit 360,000 Less: Selling, General...
Need help with Income Statement. Below is the Balance Sheet attached. *Edit. I do have the...
Need help with Income Statement. Below is the Balance Sheet
attached. *Edit. I do have the trial balance but I am a bit
confused because in my homework there is the "Financial Statement -
Beginning" & "Financial Statement - Ending" I currently just
need assistance on beginning. Please reply with any
questions.
The 2019 Balance Sheet of the Victoria Co. is as follows: Victoria Co. Balance Sheet As of December 31, 2019 Cash Notes Receivable Accounts Receivable Less: Allowance for...
Below are the income statement and comparative balance sheet of Doome Corporation for your ending Dec...
Below are the income statement and comparative balance sheet of Doome Corporation for your ending Dec 31, 2019 is given below. All amounts in Canadian dollars Required. Prepare the cashflowmet, clearly including operating icing and investing activities up to the nel change in cash using the Indirect method as De 3.2019 Dome Cam Income Suomen Fee the Year ended Dec 31, 2019 Sales Revenue Le Cost of Goods Sold Low: Seline. General and Administrative Expenses Les Depreciation expense Tarnings before...
Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic...
Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC. April 26, 2019 $30,557 9,155 2,330 10,418 1,764 Consolidated Statement of Income, 12 Months Ended ($ millions) Net Sales Costs and expenses Cost of products sold Research and development expense Selling, general, and administrative expense Amortization of intangible assets Restructuring charges, net Certain litigation charges Other operating expense, net Operating profit Other nonoperating income, net Interest expense Income before income taxes Income tax...
Prepare a Cash Flow statement using indirect method Robust Robots, Inc. Comparative Balance Sheet December 31,...
Prepare a Cash Flow statement using indirect method
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 Assets 500,000 (80,000) 420,000 809,700...
Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance...
Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance $ 42 49 62 153 470 262 Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable $ 35 54 54 143 440 254 186 208 $361 $329 $...
i need help and explanation Required information A comparative balance sheet and income statement is shown...
i need help and explanation
Required information A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 82,800 Accounts receivable, net 35,500 Inventory 74,300 Prepaid expenses 4,600 Total current assets 197,200 Furniture 92,800 Accum. depreciation-Furniture (14,400) Total assets $275,600 Liabilities and Equity Accounts payable $ 13,000 Wages payable 7,700 Income taxes payable 1,300 Total current liabilities 22,000 Notes payable (long-term) 26,800 Total liabilities 48,800 Equity...
Problem 13-10 Prepare a Statement of Cash Flows; Free Cash Flow Joyner Company’s income statement for...
Problem 13-10 Prepare a Statement of Cash Flows; Free Cash Flow Joyner Company’s income statement for Year 2 follows: Sales $ 709,000 Cost of goods sold 362,000 Gross margin 347,000 Selling and administrative expenses 216,000 Net operating income 131,000 Nonoperating items: Gain on sale of equipment 7,000 Income before taxes 138,000 Income taxes 41,400 Net income $ 96,600 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and...
Waldorf, Incorporated provided the following balance sheet, income statement, and cash flow information for the current year. (Click the icon to view the balance sheet.) (Click the icon to view the income statement.) E (Click the icon to view the cash flow information.) Requirement Prepare the statement of cash flows under the indirect method for Waldorf, Incorporated. Accrued expenses relate to Selling, Gener Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use...
Please help with this practice!
I need an Income Statement, Cash Flow Statement, and a Balance
Sheet created based on the info provided in this trial balance.
Thank you so much!
= = = On General A , X Cut Calibri (Body) - 11 - A- A Copy Paste BI U L9 x vfx Wrap Text Merge & Center A = Format $ % ) Conditional Format Formatting as Table Cell Styles Insert DEF н т т к Credit Credit...
Below are the income statement and comparative balance sheet of Doone Corporation for year ending Dec 31, 2019 is given below. All amounts in Canadian dollars. Required: Prepare the cashflow statement, clearly including operating, financing and investing activities up to the net change in cash using the Indirect method as of Dec 31, 2019. Doone Corporation Income Statement For the Year ended Dec 31, 2019 Sales Revenue 880,000 Less: Cost of Goods Sold 520.000 Gross Profit 360,000 Less: Selling, General...
Need help with Income Statement. Below is the Balance Sheet
attached. *Edit. I do have the trial balance but I am a bit
confused because in my homework there is the "Financial Statement -
Beginning" & "Financial Statement - Ending" I currently just
need assistance on beginning. Please reply with any
questions.
The 2019 Balance Sheet of the Victoria Co. is as follows: Victoria Co. Balance Sheet As of December 31, 2019 Cash Notes Receivable Accounts Receivable Less: Allowance for...
Below are the income statement and comparative balance sheet of Doome Corporation for your ending Dec 31, 2019 is given below. All amounts in Canadian dollars Required. Prepare the cashflowmet, clearly including operating icing and investing activities up to the nel change in cash using the Indirect method as De 3.2019 Dome Cam Income Suomen Fee the Year ended Dec 31, 2019 Sales Revenue Le Cost of Goods Sold Low: Seline. General and Administrative Expenses Les Depreciation expense Tarnings before...
Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC. April 26, 2019 $30,557 9,155 2,330 10,418 1,764 Consolidated Statement of Income, 12 Months Ended ($ millions) Net Sales Costs and expenses Cost of products sold Research and development expense Selling, general, and administrative expense Amortization of intangible assets Restructuring charges, net Certain litigation charges Other operating expense, net Operating profit Other nonoperating income, net Interest expense Income before income taxes Income tax...
Prepare a Cash Flow statement using indirect method
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 Assets 500,000 (80,000) 420,000 809,700...
Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance $ 42 49 62 153 470 262 Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable $ 35 54 54 143 440 254 186 208 $361 $329 $...
i need help and explanation
Required information A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 82,800 Accounts receivable, net 35,500 Inventory 74,300 Prepaid expenses 4,600 Total current assets 197,200 Furniture 92,800 Accum. depreciation-Furniture (14,400) Total assets $275,600 Liabilities and Equity Accounts payable $ 13,000 Wages payable 7,700 Income taxes payable 1,300 Total current liabilities 22,000 Notes payable (long-term) 26,800 Total liabilities 48,800 Equity...
Most questions answered within 3 hours.
-
Create a flowchart and a program; test the program. Program
Requirements.
- There are 10 members...
asked 1 minute from now -
Which of the following is not a sensory receptor?
a. a hair cell
b. a rod
c. a...
asked 1 minute ago -
Does the launch speed depend significantly upon the launching
angle? Is it reasonable?
asked 32 minutes ago -
A disc of moment of inertia 3.00 kgm2 is rotating with angular
velocity 2.00 rad/s about...
asked 16 minutes ago -
Hi, can somone help me with this question?
Omega Company reported the following information for the...
asked 22 minutes ago -
WHY SOME PEOPLE DECIDE TO STAY IN THEIR HOMES WHEN AN EXTREME
WEATHER EVENT SURROUNDS THEM.
asked 20 minutes ago -
Which of the following is a financial intermediary?
a mutual fund
the stock market
a U.S....
asked 30 minutes ago -
Completely and thoroughly explain how control charts could be
used by a company that makes eyeglass...
asked 38 minutes ago -
Explain how the equilibrium loanable funds interest rate is
determined? Please draw a picture of what...
asked 40 minutes ago -
Below is the trial balance of Tom’s Tents at 5 April 2018.
£
£
Trading account:...
asked 49 minutes ago -
For this question, we want to implement the basic
java classes to support the concept of an...
asked 50 minutes ago -
Two random variables X and Y have joint density function f(x,y)
=c(where c >0 denotes an...
asked 52 minutes ago