Homework Answers
| Cash Flow Statement (Indirect Method) | ||
| Particulars | Amount | Amount |
| Net Income | $ 291,590.00 | |
| Adjustments to reconcile net income to: | ||
| Net cash provided by operating activities | ||
| Depreciation | $ 83,790.00 | |
| Decrease in Accounts Receivable | $ 16,160.00 | |
| Increase in Inventory | $ (22,690.00) | |
| Increase in Prepayments | $ (3,240.00) | |
| Increase in Accounts Payable | $ 13,340.00 | |
| Net Cash Generated | $ 87,360.00 | |
| Net cash provided by operating activities | (A) | $ 378,950.00 |
| Cash Flows from Investing Activities | ||
| Purchase of Plant and Equipment | $ (162,330.00) | |
| Net cash provided by investing activities | (B) | $ (162,330.00) |
| Cash Flows from Financing Activities | ||
| Dividend Paid | $ (152,900.00) | |
| Reduction in Mortgage Payable | $ (336,600.00) | |
| Issued Common Stock | $ 240,000.00 | |
| Net cash provided by Financing activities | (C') | $ (249,500.00) |
| Net increase/decrease in cash | (A+B+C') | $ (32,880.00) |
| Add:Opening cash balance | $ 179,070.00 | |
| Closing cash balance | $ 146,190.00 |
Workings:
| Equipment | |||
| Beg. Bal | $ 537,730.00 | Disposal | $ 44,900.00 |
| Cash | $ 162,330.00 | End. Bal | $ 655,160.00 |
| $ 700,060.00 | $ 700,060.00 | ||
| Accumulated Depreciation | |||
| Disposal | $ 44,900.00 | Beg. Bal. | $ 131,900.00 |
| End. Bal. | $ 170,790.00 | Dep | $ 83,790.00 |
| $ 215,690.00 | $ 215,690.00 | ||
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The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 2047, is...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows Dec. 31,20Y8 Dec. 31,20Y7 Assets 146190.00 $179,070.00 41,100.00 299,700.00 430.00 537,730.00 170,790.00) 0) 1,190,560.00 $1,135,130.00 3Cash 4Accounts receivable (net) Inventories 6 Prepaid expenses 7 Equipment 8Accumulated depreciation-equipment 9 Total assets 224,940.00 22,390.00 12,670.00 655,160.00 Liabilities and Stockholders' Equity 10 11 Accounts payable (merchandise creditors) 12 Mortgage note payable 13 Common stock, $10 par 14 Paid-in capital: Excess of issue price over par-common...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $55,870 $68,540 Accounts receivable (net) 85,850 92,390 Inventories 122,620 114,520 Prepaid expenses 5,000 3,470 Equipment 249,820 205,170 Accumulated depreciation-equipment (64,950) (50,320) Total assets $454,210 $433,770 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $95,380 $90,660 Mortgage note payable 0 130,130 Common stock, $1 par 14,000 9,000 Paid-in capital in excess of par-common stock 197,000...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows:
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows:1Dec. 31, 20Y8Dec. 31, 20Y72Assets3Cash$95,000.00$110,000.004Accounts receivable (net)260,000.00280,000.005Inventories520,000.00450,000.006Prepaid expenses15,000.005,000.007Equipment1,130,000.00800,000.008Accumulated depreciation-equipment(235,000.00)(190,000.00)9Total assets$1,785,000.00$1,455,000.0010Liabilities and Stockholders’ Equity11Accounts payable (merchandise creditors)$100,000.00$75,000.0012Mortgage note payable 0.00500,000.0013Common stock, $10 par500,000.00200,000.0014Paid-in capital in excess of par—common stock400,000.00100,000.0015Retained earnings785,000.00580,000.0016Total liabilities and stockholders’ equity$1,785,000.00$1,455,000.00Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows:a. Net income, $250,000.b. Depreciation reported on the income statement,...
the comparative balance sheet of yellow dog enterprises inc. at December 31, 20Y8 and 20Y7, is...
the comparative balance sheet of yellow dog enterprises inc. at December 31, 20Y8 and 20Y7, is as follows: dec 31. 20Y8 dec 31. 20Y7. Assets. cash. $80,000.00. $100,000.00. Accounts receivable 275,000.00. 300,000.00. merchandise inventory 510,000.00. 400,000.00. prepaid expenses. 15,000.00. 10,000.00. equipment. 1,750,000.00. 750,000.00. Accumulated depreciation (200,000.00. (160,000.00. total Assets. 1,750,000.00. $1400,000.00. liabilities and stockholders equity. Accounts payable. $100,000.00. $90,000,00. mortgage note payable 0.00. 400,000.00. common stock $10 par. 600,000.00. 200,000.00. paid in capital. 300,000.00. 100,000.00. retained earnings. 750,000.00. 610,000.00. total...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: 1 Dec. 31, 20Y8 Dec. 31, 20Y7 2 Assets 3 Cash $146,590.00 $180,310.00 4 Accounts receivable (net) 223,920.00 242,510.00 5 Inventories 322,020.00 298,480.00 6 Prepaid expenses 12,710.00 9,770.00 7 Equipment 654,640.00 536,710.00 8 Accumulated depreciation-equipment (170,680.00) (132,810.00) 9 Total assets $1,189,200.00 $1,134,970.00 10 Liabilities and Stockholders’ Equity 11 Accounts payable (merchandise creditors) $239,470.00 $238,540.00 12 Mortgage note payable 0.00 335,820.00 13 Common...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $49,350 $60,220 Accounts receivable (net) 75,830 81,180 Inventories 108,320 100,620 Prepaid expenses 4,410 3,050 Equipment 220,660 180,280 Accumulated depreciation-equipment (57,370) (44,210) Total assets $401,200 $381,140 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $84,250 $79,660 Mortgage note payable 0 114,340 Common stock, $1 par 13,000 8,000 Paid-in capital: Excess of issue price over par-common...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: 1 Dec. 31, 20Y8 Dec. 31, 20Y7 2 Assets 3 Cash $145,630.00 $180,110.00 4 Accounts receivable (net) 224,520.00 241,890.00 5 Inventories 321,860.00 299,730.00 6 Prepaid expenses 12,550.00 10,220.00 7 Equipment 655,090.00 537,200.00 8 Accumulated depreciation-equipment (170,220.00) (132,040.00) 9 Total assets $1,189,430.00 $1,137,110.00 10 Liabilities and Stockholders’ Equity 11 Accounts payable (merchandise creditors) $240,110.00 $237,190.00 12 Mortgage note payable 0.00 335,380.00 13 Common...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...
The comparative balance sheet of Yellow Dog Enterprises Inc. at
December 31, 20Y8 and 20Y7, is as follows:
Additional data obtained from the income statement and from an
examination of the accounts in the ledger for 20Y8 are as
follows:
A. Net income, $190,000.
B. Depreciation reported on the income statement, $115,000.
C. Equipment was purchased at a cost of $395,000 and fully
depreciated equipment costing $75,000 was discarded, with no
salvage realized.
D. The mortgage note payable was not...
Staterment of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December...
Staterment of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20YB and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 2OY7 Assets Cash $77,140 $94,530 Accounts recelvable (net) 118,530 127,430 Inventories 169,310 157,940 Prepaid expenses 6,900 4,790 Equipment 344,920 282,980 Accumulated depreciation-equipment (89,680) (69,400) Total assets $627,120 $598,270 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $131,700 $125,040 Mortgage note payable 0 179,480 Common stock, $1 par 21,000 13,000 Paid-in capital: Excess...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $68,210 $83,770 Accounts receivable (net) 104,820 112,930 Inventories 149,750 139,970 Prepaid expenses 6,100 4,240 Equipment 305,020 250,780 Accumulated depreciation-equipment (79,310) (61,500) Total assets $554,590 $530,190 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $116,460 $110,810 Mortgage note payable 0 159,060 Common stock, $1 par 18,000 11,000 Paid-in capital in...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows Dec. 31,20Y8 Dec. 31,20Y7 Assets 146190.00 $179,070.00 41,100.00 299,700.00 430.00 537,730.00 170,790.00) 0) 1,190,560.00 $1,135,130.00 3Cash 4Accounts receivable (net) Inventories 6 Prepaid expenses 7 Equipment 8Accumulated depreciation-equipment 9 Total assets 224,940.00 22,390.00 12,670.00 655,160.00 Liabilities and Stockholders' Equity 10 11 Accounts payable (merchandise creditors) 12 Mortgage note payable 13 Common stock, $10 par 14 Paid-in capital: Excess of issue price over par-common...
The comparative balance sheet of Yellow Dog Enterprises Inc. at
December 31, 20Y8 and 20Y7, is as follows:
Additional data obtained from the income statement and from an
examination of the accounts in the ledger for 20Y8 are as
follows:
A. Net income, $190,000.
B. Depreciation reported on the income statement, $115,000.
C. Equipment was purchased at a cost of $395,000 and fully
depreciated equipment costing $75,000 was discarded, with no
salvage realized.
D. The mortgage note payable was not...
Staterment of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20YB and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 2OY7 Assets Cash $77,140 $94,530 Accounts recelvable (net) 118,530 127,430 Inventories 169,310 157,940 Prepaid expenses 6,900 4,790 Equipment 344,920 282,980 Accumulated depreciation-equipment (89,680) (69,400) Total assets $627,120 $598,270 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $131,700 $125,040 Mortgage note payable 0 179,480 Common stock, $1 par 21,000 13,000 Paid-in capital: Excess...
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