Question

k my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completio Return to qu The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for N Company. Additional information from NIC's accounting records is provided also ational Intercable NATIONAL İNTERCABLE COMPANY Comparative Balance Sheets December 31, 2018 and 2017 (s in millions) 2018 2017 Assets Cash $ 157 150 447 Accounts receivable 440 Less: Allowance for uncollectible accounts Prepaid insurance Inventory Long-term investment Land 15 420 130 290 290 390 (157) (140) 429 81 Buildings and equipment Lesst Accumulated depreciation Trademark 408 31 $1,686 $1,723 Liabilities $54 76 Accounts payable Salaries payable Deferred income tax 1iability Lease liability Bonds payable Lessi Discount on bonds 25 100 190 (33) 19 340 (39) Shareholders' Equity 390 400 165 Common stock Paid-in capital-excess of par Preferred ntonk 4 n Next > 20f 15 20, 15111 2of 15111

Answer 1

National Intercable Company Cashflow Statement Direct method Calculation Cash flows from from Operating Activities Cash collections from customers 609 Cash received from investments 9 Total Cash receipts 618 Cash ents Cash paid to suppliers for Invento 311 Cash paid for salaries 82 Cash paid for insurance 40 Cash paid for bond interest 49 Cash paid for Income Taxes 42 Total cash payments Net Cash Provided/(Used) by Operating Activities 524 94 Cash flows from from Investing Activities Sale of long term investments 60 Sale of Building parts Payment of leases 10 Net Cash Provided/(Used) by Investing Activities Cash flows from from Financing Activities Sale of common stock 30 Sale of preferred stock 40 Repayment of bonds payable (150) Payment of cash Dividends 62 Net Cash Provided/(Used) by Financing Activities 142 Net Change in Cash Cash at Beginning of Period 7 150 Cash at End of Period 157

Workings Cashflow Statement Direct method Cash flows from from Operating Activities Sales Opening Accounts Receivable Closing Accounts Receivable Closing Allowance Opening Allowance Bad debt expense Cash collections from customers 16 Investment revenue Income from Equity method investee Cash received from investment revenue 618 Cash ents Cost of sales Opening Accounts Payable 76 Closing Accounts Payable 54 Closing Invento 429 Opening Inventory 420 Cash paid to Suppliers 311 Salaries expenses 80 Opening Salaries Payable Closing Salaries Payable Cash paid for salaries 82 Insurance expense Closing Prepaid Insurance Opening Prepaid Insurance 15 Cash paid for insurance Bond interest expense Opening Discount on bonds (39 Closing Discount on bonds Cash paid for bond interest 49 Income tax expense Opening Deferred Income tax liabilit 19 Closing Deferred Income tax liabilit 25 Cash paid for income tax Total cash payments Net Cash Provided/(Used) by Operating Activities 42 524