Homework Answers
Cash used to build the new plant will be classified as
Investing Activities
Since it is used for long term development of business by developing of plant it will be termed as investing activities.
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QUESTION 3 OOOO Assume that your bank loaned several million dollars to Entity G to finance...
Durycoo Cupurty Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance $ 99 669 $...
Durycoo Cupurty Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance $ 99 669 $ 48 730 695 1,473 1,595 - 824 771 $2,244 1,414 1,565 678 887 $ 2,301 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 Total liabilities Stockholders' equity:...
Analyze your company’s investing and financing activities for the most recent year as identified in the...
Analyze your company’s investing and financing
activities for the most recent year as identified in the statement
of cash flows, specifically identifying the two largest investing
activities and the two largest financing activities. Evaluate the
cash flow from operating activities of the firm (specifically
analyze whether the company is performing better over the years,
discuss whether cash flow from operating activities appears to be
satisfactory given the current business environment and firms’
stage in the life cycle).
The company taken...
1. Cash borrowed from another corporation would be reported in which section of the Statement of...
1. Cash borrowed from another corporation would be reported in which section of the Statement of Cash Flows? a. Operating Activities b. Investing Activities c Financing Activities d. This would not be reported on the Statement of Cash Flows. Depreciation is deducted when calculating cash outflows for operating expenses when using the direct method because: a. depreciation is not an expense we pay cash for. b. depreciation belongs in the cash outflows for financing activities. c. depreciation is an accrued...
|OPERATING PROFIT INFLOW DECREASE INVESTING INCREASE FINANCING OUTFLOW CASH NON-CASH A statement of cash flows is...
|OPERATING PROFIT INFLOW DECREASE INVESTING INCREASE FINANCING OUTFLOW CASH NON-CASH A statement of cash flows is a useful report that discloses all movements during the period. Classification of cash flows into operating, and financing activities provides insight into where cash came from and what it was spent on. It is important that cash flows from activities is positive, as it indicates that sufficient cash was received from business operations to cover ongoing business outflows. A significant cash under operating activities...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained...
hi, can you please answer this for me please. thank you and have a great day...
hi, can you please answer this for me please. thank
you and have a great day
A comparative balance sheet and an income statement for Burgess Company are given below: Burgess Company Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance $ 54 790 725 1,569 1,655 860 $ 111 723 670 1.504 1.619 696 923 $ 2,427 795 $ 2,364 Assets Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less...
these are the box choices to choose from (fill out accordingly please) Question 2 The following...
these are the box choices to choose from (fill out accordingly
please)
Question 2 The following three accounts appear in the general ledger of Herrick Corp. during 2020. Equipment Debit Credit Date Jan. 1 July 31 Sept. 2 Nov. 10 Balance Purchase of equipment Cost of equipment constructed Cost of equipment sold 71,900 55,000 Balance 160,000 231,900 286,900 238,700 48,200 Date Credit Jan. 1 Nov. 10 Dec. 31 Accumulated Depreciation-Equipment Debit Balance Accumulated depreciation on equipment sold 30,700 Depreciation for...
1. Eaned $16,200 of cash revenue. 2. Borrowed $12,000 cash from the bank. 3. Adjusted the...
1. Eaned $16,200 of cash revenue. 2. Borrowed $12,000 cash from the bank. 3. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, Issued on September 1, 2018 had a one-year term and an 8 percent annual interest rate. Required a. What is the amount of b. What amount of cash was paid for interest in 2018? c. Use a horizontal statements model to show how each event affects the balance sheet, income statement,...
help A comparative balance sheet and an income statement for Burgess Company are given below. Burgess...
help
A comparative balance sheet and an income statement for Burgess Company are given below. Burgess Company Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance $ 43 680 670 1,393 1,545 794 $ 89 624 626 1,339 1,520 663 857 $ 2, 196 751 $2,144 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:...
Heads Up Company was started several years ago by two hockey Instructors. The company's comparative balance...
Heads Up Company was started several years ago by two hockey Instructors. The company's comparative balance sheets and income statement are provided below. along with additional information 2017 2016 Balance Sheet at December 31 Cash Accounts Receivable Equipment Less! Accumulated Depreciation $ 6,000 1.000 5,500 (1,500) $ 4,000 1,750 5,000 (1,250) $ 9,500 -ok $ 11,000 Accounts Payable Wages Payable Long-Term Bank Loan Payable Contributed capital Retained Earnings 500 500 1,500 5,000 3,500 $1,000 750 500 5.000 2,250 ences $...
Durycoo Cupurty Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance $ 99 669 $ 48 730 695 1,473 1,595 - 824 771 $2,244 1,414 1,565 678 887 $ 2,301 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 Total liabilities Stockholders' equity:...
Analyze your company’s investing and financing
activities for the most recent year as identified in the statement
of cash flows, specifically identifying the two largest investing
activities and the two largest financing activities. Evaluate the
cash flow from operating activities of the firm (specifically
analyze whether the company is performing better over the years,
discuss whether cash flow from operating activities appears to be
satisfactory given the current business environment and firms’
stage in the life cycle).
The company taken...
1. Cash borrowed from another corporation would be reported in which section of the Statement of Cash Flows? a. Operating Activities b. Investing Activities c Financing Activities d. This would not be reported on the Statement of Cash Flows. Depreciation is deducted when calculating cash outflows for operating expenses when using the direct method because: a. depreciation is not an expense we pay cash for. b. depreciation belongs in the cash outflows for financing activities. c. depreciation is an accrued...
|OPERATING PROFIT INFLOW DECREASE INVESTING INCREASE FINANCING OUTFLOW CASH NON-CASH A statement of cash flows is a useful report that discloses all movements during the period. Classification of cash flows into operating, and financing activities provides insight into where cash came from and what it was spent on. It is important that cash flows from activities is positive, as it indicates that sufficient cash was received from business operations to cover ongoing business outflows. A significant cash under operating activities...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained...
hi, can you please answer this for me please. thank
you and have a great day
A comparative balance sheet and an income statement for Burgess Company are given below: Burgess Company Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance $ 54 790 725 1,569 1,655 860 $ 111 723 670 1.504 1.619 696 923 $ 2,427 795 $ 2,364 Assets Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less...
these are the box choices to choose from (fill out accordingly
please)
Question 2 The following three accounts appear in the general ledger of Herrick Corp. during 2020. Equipment Debit Credit Date Jan. 1 July 31 Sept. 2 Nov. 10 Balance Purchase of equipment Cost of equipment constructed Cost of equipment sold 71,900 55,000 Balance 160,000 231,900 286,900 238,700 48,200 Date Credit Jan. 1 Nov. 10 Dec. 31 Accumulated Depreciation-Equipment Debit Balance Accumulated depreciation on equipment sold 30,700 Depreciation for...
1. Eaned $16,200 of cash revenue. 2. Borrowed $12,000 cash from the bank. 3. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, Issued on September 1, 2018 had a one-year term and an 8 percent annual interest rate. Required a. What is the amount of b. What amount of cash was paid for interest in 2018? c. Use a horizontal statements model to show how each event affects the balance sheet, income statement,...
help
A comparative balance sheet and an income statement for Burgess Company are given below. Burgess Company Comparative Balance Sheet (dollars in millions) Ending Balance Beginning Balance $ 43 680 670 1,393 1,545 794 $ 89 624 626 1,339 1,520 663 857 $ 2, 196 751 $2,144 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:...
Heads Up Company was started several years ago by two hockey Instructors. The company's comparative balance sheets and income statement are provided below. along with additional information 2017 2016 Balance Sheet at December 31 Cash Accounts Receivable Equipment Less! Accumulated Depreciation $ 6,000 1.000 5,500 (1,500) $ 4,000 1,750 5,000 (1,250) $ 9,500 -ok $ 11,000 Accounts Payable Wages Payable Long-Term Bank Loan Payable Contributed capital Retained Earnings 500 500 1,500 5,000 3,500 $1,000 750 500 5.000 2,250 ences $...
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