Statement of cash flow | |||||||
operating activities | |||||||
net income for the year | 200 | ||||||
Adjustments for non cash items | |||||||
Depreciation expense | 23,400 | ||||||
Loss on sale of Equipment | 4,800 | ||||||
changes in current assets and current liabilities | |||||||
increase in accounts receivable | -9100 | ||||||
increase in inventory | -14500 | ||||||
decrease in prepaid interest | 2400 | ||||||
increase in accounts payable | 6,000 | ||||||
Decrease in wages payable | -4400 | ||||||
increase in income taxes payable | 13,200 | ||||||
Net cash provided by operating activities | 22,000 | ||||||
Investing activities | |||||||
Cash from sale of Equipment | 6,700 | ||||||
purchase of land for cash | -45,100 | ||||||
Cash used by investing activities | -38,400 | ||||||
Financing activities | |||||||
Cash dividend | -15000 | ||||||
Cash from notes payable | 28,200 | ||||||
cash from common shares | 69,500 | ||||||
Cash from financing activities | 82,700 | ||||||
net increase in cash | 66,300 | ||||||
cash at beginning | 80,100 | ||||||
cash at year end | 146,400 | ||||||
The records of Koop Co. provided the following information for the year ended 31 December 20X8:...
The following information is available for Vaughn Manufacturing for the year ended December 31, 2022. Beginning cash balance $21,600 Accounts payable increase 5,130 Depreciation expense 36,900 Accounts receivable decrease 4,320 Inventory decrease 2,790 Net income 51,480 Cash received for sale of land at book value 93,600 Cash dividends paid 34,200 Income taxes payable decrease 3,510 Cash used to purchase land 72,900 Cash used to redeem bonds 59,400 Cash received from issuing stock 144,000 Vaughn Manufacturing Statement of Cash Flows-Indirect Method...
The following information is available for Moab Corporation
for the year ended December 31, 2022
Nows Prepare a statement of cash flows using the indirect method. E12.8 (LO 2), AP The following information is available for Moab corpo December 31, 2022. le for Moab Corporation for the year ended $ 24,000 5,700 41,000 Beginning cash balance Accounts payable increase Depreciation expense Accounts receivable decrease Inventory decrease Net income Cash received for sale of land at book value Cash dividends paid...
Cullumber Company's income statement for the year ended December 31, 2020, contained the following condensed information. $848,000 Service revenue $628,000 Operating expenses (excluding depreciation) Depreciation expense 61,000 Loss on sale of equipment 715,000 26,000 Income before income taxes 133,000 Income tax expense 40,000 Net income $93,000 Cullumber's balance sheet contained the following comparative data at December 31. 2020 2019 Accounts receivable $37,000 $52000 Accounts payable 39,000 32,000 Income taxes payable 4,000 8,400 (Accounts payable pertains to operating expenses Prepare the...
Problem 3 Partial financial information for the Fredricka Corporation for its year ended December 31, 20x8 is as follows: 20x8 $685,000 105,000 dr. 20x7 $650,000 $20,000 cr. FVTOCI Investments A*OCI 35,000 Statement of Comprehensive Income - Other Comprehensive Income Loss on FVTOCI Investments ($40,000 Gain on on sale of investment + 55,000 Loss on FV Adjustment at year-end) Additional Information - 1. 2. All FVTOCI Investments are investments in the equity securities of corporations. One security whose original cost was...
Waterway Company's income statement for the year ended December 31, 2017, contained the following condensed information. Service revenue $839,000 $624,000 Operating expenses (excluding depreciation) Depreciation expense 60,000 Loss on sale of equipment 26,000 710,000 Income before income taxes 129,000 Income tax expense 39,000 $90,000 Net income Waterway's balance sheet contained the following comparative data at December 31 2017 2016 $39,000 $53,000 Accounts receivable Accounts payable 40,000 32,000 Income taxes payable 4,200 8,300 (Accounts payable pertains to operating expenses.) Prepare the...
The financial statements of Pouchie Co. included the following information for the year ended December 31, 2019 (amounts in millions) $258 318 816 378 143 171 Depreciation and amortization expense Cash dividends declared and paid Purchase of equipment Net income Beginning cash balance Proceeds of common stock issued Proceeds from sale of building (at book value) Accounts receivable increase Ending cash balance Inventory decrease Accounts payable increase Required: Complete the following statement of cash flows, using the indirect method. (Amounts...
Carlson Corporation accountants assembled the following data for the year ended December 31, 2016 (Click the icon to view the current accounts.) iData Table Requirement 1. Prepare Carlson Corporation's statement of cash flows usi financing activities on an accompanying schedule Complete the statement one section at a time, beginning with t numbers to be subtracted.) Carlson Corporation December 31 Current assets: Cash and cash equivalents Accounts receivable 2016 2015 Carlson Co Statement of Year Ended Dece $ 77,800 $ 20,000...
The financial statements of Pouchie Co. included the following information for the year ended December 31, 2019 (amounts in millions): $ 130 165 410 S Depreciation and amortization expense Cash dividends declared and paid Purchase of equipment Net income Beginning cash balance Proceeds of conmon stock issued Proceeds from sale of building (at book value) Accounts receivable increase Ending cash balance Inventory decrease Accounts payable increase 192 60 74 106 8 20 19 22 Required: Complete the following statement of...
Fashion Retailers, Inc.’s income statement for the year ended December 31, 20X8 included the following accounts: Sales………………………………………………………….$72,000,000 Cost of goods sold……………………………………………$50,400,000 Selling expenses (total)………………………………………$12,000,000 General and administrative expenses………………………….$8,000,000 Income tax expense…………………………………...…………$480,000 What was the net income for the year-ended December 31, 20X8? a. $1,120,000. b. $2,500,000. c. $1,600,000. d. $21,600,000.
The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided below GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 $164,270 Net revenues: Expenses: Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense $38,500 51,400 17,250 6,785 14,500 Total expenses 128,435 $ 35,835 Net income GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 Increase (I) or Decrease (D) 2022 2021 Assets Current assets: 64,500 $116,068 (1) 47,600...