Homework Answers
a)
Balance Sheet as on For Year 2017 2018
Cash 1500 1540
Accounts Receivable 1990 2250
Inventory 3500 3600
Total Current Assets 6990 7390
Fixed Assets 12600 12900
Total Assets 19590 20290
Accounts Payable 1580 1530
Notes Payable 290 270
Total current Liabilities 1870 1800
Long Term Debt 5100 5800
Total Liabilities 6970 7600
Retained Earnings 562.5 795
Owners Equity 12057.5 11895
Total Liabilities & Equity 19590 20290
Income Statement For Year ended 2018
Sales 3500
Cost of Goods Sold (COGS) 1300
Gross Profit 2200
Depreciation 400
Earnings Before Interest And Taxes(EBIT) 1800
Interest 220
Earnings Before Taxes (EBT) 1580
Taxes (25%) 395
Net Income(NI) 1185
Dividends 390
Retained Earnings 795
b)
Cash Flow To Creditors (2018) = Interest Paid - End of long term Debt + Begining of Long term Debt
= 220 - ( 5800 - 5100)
= (480) -> () represents negative cash flows
Cash Flow to Creditors for year 2018 is 480
Cash Flow To Stockholders (2018) = Dividends - Net New Equity Raised
= 390 - ( Owners equity (2018)- Owners Equity (2017))
= 390 - ( 11895 - 12057.5)
= 552.5
Cash flows to Stockholders for year 2018 is 552.5
Cash flow from Assets = Cash Flows to creditors + cash flows to Stockholders
= -480 + 552.5
= 72.5
Cash flow From Assets for the year 2018 72.5
Add Answer to:
Q-4. (Financial Statements) Use the following information for Megan Corporation and; a) Set up the Balance...
4. Cash Flow and Financial Statements: Use the following information for Allison Kopatich Corporation (assume the...
4. Cash Flow and Financial Statements: Use the following information for Allison Kopatich Corporation (assume the tax rate is 21 percent) and (i) Draw up an income statement and balance sheet for this company for 2017 and 2018; and (ii) For 2018, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders. Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory...
I need help & 2 (page 4 of 5) Use these financial statements to answer the...
I need help
& 2 (page 4 of 5) Use these financial statements to answer the following numerical questions. Balance Sheet 2019 2020 2019 2020 Cash $ 3,000 $2,100 $ 1,100 $ 1,300 3,900 3,600 Accounts receivable 6,800 7,300 9,000 5,600 5,100 8,800 Inventory Net fixed assets Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity Income Statement 2.900 4,400 10.900 12.800 $21.500 $22.800 Total assets $21,500 $22.800 Net Sales $41,000 Costs 31,500 Depreciation 1,600 7,900 EBIT...
Use the following information for Taco Swell, Inc., (assume the tax rate is 21 percent) 2017...
Use the following information for Taco Swell, Inc., (assume the tax rate is 21 percent) 2017 2018 $17,049 $ 18,798 Sales Depreciation 2,386 2,494 5,740 6,741 Cost of goods sold Other expenses 1,350 1,183 1,115 1,330 8,681 9,277 Accounts receivable 11,49813,512 Interest Cash Short-term notes 1,684 1,651 payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 29,090 35,254 72,792 77,640 6,2756,670 20,441 21,872 2,0292,324 For 2018, calculate the cash flow from assets, cash flow to creditors, and cash flow...
Homework: Chapter 16 Calculator Print Item Use the following information from Berlin Company's financial statements. Dec....
Homework: Chapter 16 Calculator Print Item Use the following information from Berlin Company's financial statements. Dec. 31, 2018 Dec 31, 2017 Assets Cash $30,000 $24,000 12.000 Accounts Receivable 10,000 Prepaid Assets 1,000 1,200 $41,200 Total Assets $37,000 Liabilities and Equity Accrued Liabilities 1,700 1,800 Common Stock 33,000 35,000 Retained Earnings 6,500 200 Total Liabilities and Equity $41,200 $37,000 Additional Information: Net Income $5,800 Dividends Pald -500 Prepare the operating activities section of the statement of cash flows (Indirect method) for...
Use the following information to create an income statement and balance sheet for 2018 and 2019;...
Use the following information to create an income statement and balance sheet for 2018 and 2019; assume the tax rate is 34%. Then, using those statements, calculate for 2019: Cash flow from assets, Cash flow to creditors, Cash flow to stockholders 2016 2017 Sales 50,920 56,916 Depreciation expense 7,308 7,640 Cost of goods sold 17,508 20,712 Other expense 4,164 3,624 Interest expenses 3,416 4,076 Cash 26,696 28,452 Accounts receivables 33,348 41,484 short term notes payables 5,152 5,048 long term debt 89,408...
The income statement and balance sheet for GUS, Inc. are provided below. (Note that the reported...
The income statement and balance sheet for GUS, Inc. are provided below. (Note that the reported figures in the statements are expressed in thousands of dollars.) GUS, INC. Balance Sheets as of December 31, 2018 and 2019 (in 000s) 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 100 $ 175 Accounts payable $ 300 $ 380 Accounts receivable 300 275 Notes payable 500 560 Inventory 450 500 Total $ 850 $ 950 Total...
Use the following information for Taco Swel Inc., (assume the tax rate is 21 percent) 2017...
Use the following information for Taco Swel Inc., (assume the tax rate is 21 percent) 2017 2018 Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes $17,049 18,798 2,386 2,494 6,741 1,183 1,330 8,681 9,277 13,512 5,740 1,350 1,115 11,498 ,684 1,651 payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 29,090 35,254 72,792 77,640 6,275 6,670 20,441 21,872 2,029 2,324 For 2018, calculate the cash flow from assets, cash flow to creditors, and...
Use the following information for Taco Swell, Inc., (assume the tax rate is 23 percent): 2017...
Use the following information for Taco Swell, Inc., (assume the tax rate is 23 percent): 2017 2018 Sales $26,049 $ 19,338 Depreciation 2,566 2,674 Cost of goods sold 6,640 6,921 Other expenses 1,476 1,273 Interest 1,205 1,420 Cash 8,771 9,817 Accounts receivable 11,678 14,052 Short-term notes 1,864 1,831 payable Long-term debt 29,630 35,704 Net fixed assets 73,206 78,160 Accounts payable 6,383 7,210 Inventory 20,747 22,052 Dividends 2,929 2,504 For 2018, calculate the cash flow from assets, cash flow to creditors,...
Use the following Information for Taco Swell, Inc, (assume the tax rate is 21 percent 2017...
Use the following Information for Taco Swell, Inc, (assume the tax rate is 21 percent 2017 2018 17049 $ 18,798 2,386 2,494 Sales Depreciation Cost of goods sold5,740 6,741 Other expenses50 1183 Interest Cash Accounts receivable 11,498 13,512 Short-term notes 5 1,330 8,681 9,277 1,684 1,651 29,090 35,254 payable Long-term debt Net fixed assets 72,792 77640 Accounts payable6,2756,670 Inventory Dividends 20,441 21,872 2,029 2,324 For 2018, calculate the cash flow from assets, cash flow to creditors, and cash flow to...
The following financial statements and additional information are reported. 2017 IKIBAN INC. Comparative Balance Sheets June...
The following financial statements and additional information are reported. 2017 IKIBAN INC. Comparative Balance Sheets June 30, 2018 and 2017 2018 Assets Cash $ 87,500 Accounts receivable, net 65,000 Inventory 63,800 Prepaid expenses 4,400 Total current assets 220,700 Equipment 124,000 Accum. depreciation-Equipment (27,000) Total assets $317,700 Liabilities and Equity Accounts payable $ 25,000 Wages payable 6,000 Income taxes payable 3,400 Total current liabilities 34,400 Notes payable (long term) 30,000 Total liabilities 64,400 Equity Common stock, $5 par value 220,000 Retained...
4. Cash Flow and Financial Statements: Use the following information for Allison Kopatich Corporation (assume the tax rate is 21 percent) and (i) Draw up an income statement and balance sheet for this company for 2017 and 2018; and (ii) For 2018, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders. Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory...
I need help
& 2 (page 4 of 5) Use these financial statements to answer the following numerical questions. Balance Sheet 2019 2020 2019 2020 Cash $ 3,000 $2,100 $ 1,100 $ 1,300 3,900 3,600 Accounts receivable 6,800 7,300 9,000 5,600 5,100 8,800 Inventory Net fixed assets Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity Income Statement 2.900 4,400 10.900 12.800 $21.500 $22.800 Total assets $21,500 $22.800 Net Sales $41,000 Costs 31,500 Depreciation 1,600 7,900 EBIT...
Use the following information for Taco Swell, Inc., (assume the tax rate is 21 percent) 2017 2018 $17,049 $ 18,798 Sales Depreciation 2,386 2,494 5,740 6,741 Cost of goods sold Other expenses 1,350 1,183 1,115 1,330 8,681 9,277 Accounts receivable 11,49813,512 Interest Cash Short-term notes 1,684 1,651 payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 29,090 35,254 72,792 77,640 6,2756,670 20,441 21,872 2,0292,324 For 2018, calculate the cash flow from assets, cash flow to creditors, and cash flow...
Homework: Chapter 16 Calculator Print Item Use the following information from Berlin Company's financial statements. Dec. 31, 2018 Dec 31, 2017 Assets Cash $30,000 $24,000 12.000 Accounts Receivable 10,000 Prepaid Assets 1,000 1,200 $41,200 Total Assets $37,000 Liabilities and Equity Accrued Liabilities 1,700 1,800 Common Stock 33,000 35,000 Retained Earnings 6,500 200 Total Liabilities and Equity $41,200 $37,000 Additional Information: Net Income $5,800 Dividends Pald -500 Prepare the operating activities section of the statement of cash flows (Indirect method) for...
The income statement and balance sheet for GUS, Inc. are provided below. (Note that the reported figures in the statements are expressed in thousands of dollars.) GUS, INC. Balance Sheets as of December 31, 2018 and 2019 (in 000s) 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 100 $ 175 Accounts payable $ 300 $ 380 Accounts receivable 300 275 Notes payable 500 560 Inventory 450 500 Total $ 850 $ 950 Total...
Use the following information for Taco Swel Inc., (assume the tax rate is 21 percent) 2017 2018 Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes $17,049 18,798 2,386 2,494 6,741 1,183 1,330 8,681 9,277 13,512 5,740 1,350 1,115 11,498 ,684 1,651 payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 29,090 35,254 72,792 77,640 6,275 6,670 20,441 21,872 2,029 2,324 For 2018, calculate the cash flow from assets, cash flow to creditors, and...
Use the following information for Taco Swell, Inc., (assume the tax rate is 23 percent): 2017 2018 Sales $26,049 $ 19,338 Depreciation 2,566 2,674 Cost of goods sold 6,640 6,921 Other expenses 1,476 1,273 Interest 1,205 1,420 Cash 8,771 9,817 Accounts receivable 11,678 14,052 Short-term notes 1,864 1,831 payable Long-term debt 29,630 35,704 Net fixed assets 73,206 78,160 Accounts payable 6,383 7,210 Inventory 20,747 22,052 Dividends 2,929 2,504 For 2018, calculate the cash flow from assets, cash flow to creditors,...
Use the following Information for Taco Swell, Inc, (assume the tax rate is 21 percent 2017 2018 17049 $ 18,798 2,386 2,494 Sales Depreciation Cost of goods sold5,740 6,741 Other expenses50 1183 Interest Cash Accounts receivable 11,498 13,512 Short-term notes 5 1,330 8,681 9,277 1,684 1,651 29,090 35,254 payable Long-term debt Net fixed assets 72,792 77640 Accounts payable6,2756,670 Inventory Dividends 20,441 21,872 2,029 2,324 For 2018, calculate the cash flow from assets, cash flow to creditors, and cash flow to...
The following financial statements and additional information are reported. 2017 IKIBAN INC. Comparative Balance Sheets June 30, 2018 and 2017 2018 Assets Cash $ 87,500 Accounts receivable, net 65,000 Inventory 63,800 Prepaid expenses 4,400 Total current assets 220,700 Equipment 124,000 Accum. depreciation-Equipment (27,000) Total assets $317,700 Liabilities and Equity Accounts payable $ 25,000 Wages payable 6,000 Income taxes payable 3,400 Total current liabilities 34,400 Notes payable (long term) 30,000 Total liabilities 64,400 Equity Common stock, $5 par value 220,000 Retained...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago