Homework Answers
1. Cash Flow from Financing for inflows and outflows of cash resulting from debt issuance and financing, the issuance of any new stock, dividend payments, and any repurchase of existing stock.
2. In this problem , only two activities are involved in financing activities .
3. Purchase of treasury bonds is a cash outflow and increase in
long term debt is a cash inflow.
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Concept Check Question 3.17 Quipe Industries provided the following information for the year ending June 30,...
Using the information below -- what was Bala Industries’ Cash Flow from Financing for the year...
Using the information below -- what was Bala Industries’ Cash Flow from Financing for the year ending 6/30/2011? Round to the nearest cent. Increase in inventories $30 Purchased treasury stock $24 Purchased property & equipment $25 Net Income $340 Decrease in accrued income taxes $44 Depreciation & amortization $112 Decrease in accounts payable $20 Increase in accounts receivable $25 Increase in Long-term debt $105
Vanderheiden Hog Products Corp. provided the following financial information for the quarter ending June 30, 2014: Net i...
Vanderheiden Hog Products Corp. provided the following financial information for the quarter ending June 30, 2014: Net income: $189,425 Depreciation and amortization: $63,114 Increase in receivables: $ 62,154 Increase in inventory: $57,338 Increase in accounts payables: $37,655 Decrease in other current assets: $27,450 What is this firm’s cash flow from operating activities during this quarter? Please list each step so I can see how answer was calculated
he income statement of Booker T Industries Inc. for the current year ended June 30 is...
he income statement of Booker T Industries Inc. for the current year ended June 30 is as follows: 1 Sales $513,000.00 2 Cost of goods sold 295,400.00 3 Gross profit $217,600.00 4 Operating expenses: 5 Depreciation expense $39,730.00 6 Other operating expenses 105,620.00 7 Total operating expenses 145,350.00 8 Income before income tax $72,250.00 9 Income tax expense 21,900.00 10 Net income $50,350.00 Changes in the balances of selected accounts from the beginning to the end of the current year...
Question 3- Financial Reporting The following information has been provided to you for the year ending...
Question 3- Financial Reporting The following information has been provided to you for the year ending 30th June 2019. Credit Account Name Debit 27,650 Cash at Bank 820 Electricity Payable Motor Vehicle Accumulated Depreciation - Computer Interest Payable Furniture Accounts Receivable Building Drawings Computer Loan Payable Accumulated Depreciation - Motor Vehicle Equipment Accounts Payable Accumulated Depreciation - Furniture Prepaid Rent Profit Supplies Capital (30/6/19) Unearned Income 32,500 1,600 540 16,800 38,760 136,000 2,300 6,300 21,300 8,940 52,300 12,560 1,700 1,400...
Exercise 12-5 The following information is available for Coronado Industries for the year ended December 31,...
Exercise 12-5 The following information is available for Coronado Industries for the year ended December 31, 2017, Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income $46,575 3,830 167,670 8,487 11,385 294,044 36,225 12,420 4,865 299,115 26,910 207,000 Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds Prepare a statement of...
Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020: Inventories...
Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020: Inventories 01/07/2019 30/06/2020 Direct Materials $72,000 $65,000 Work-in-Process $107,000 $128,000 Finished Goods $149,500 $141,700 Other Information: Office cleaner’s wages 4,500 Sales Revenue 1,031,000 Raw materials purchased 235,000 Factory wages 239,700 Indirect materials 23,500 Delivery truck driver’s wages 15,400 Indirect labor 9,500 Depreciation on factory plant & equipment 32,000 Insurance 1 60,000 Depreciation on delivery truck 7,250 Utilities 2 118,750...
Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020: Inventories...
Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020: Inventories 01/07/2019 30/06/2020 Direct Materials $72,000 $65,000 Work-in-Process 107,000 128,000 Finished Goods 149,500 141,700 Other information: Office cleaner’s wages 4,500 Sales Revenue 1,031,000 Raw materials purchased 235,000 Factory wages 239,700 Indirect materials 23,500 Delivery truck driver’s wages 15,400 Indirect labor 9,500 Depreciation on factory plant & equipment 32,000 Insurance 1 60,000 Depreciation on delivery truck 7,250 Utilities 2 118,750 Administrative salaries 41,250 Special Design Costs...
Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020: Inventories...
Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020: Inventories 01/07/2019 30/06/2020 Direct Materials $72,000 $65,000 Work-in-Process 107,000 128,000 Finished Goods 149,500 141,700 Other information: Office cleaner’s wages 4,500 Sales Revenue 1,031,000 Raw materials purchased 235,000 Factory wages 239,700 Indirect materials 23,500 Delivery truck driver’s wages 15,400 Indirect labor 9,500 Depreciation on factory plant & equipment 32,000 Insurance 1 60,000 Depreciation on delivery truck 7,250 Utilities 2 118,750 Administrative salaries 41,250 Special Design Costs...
Question 3 20 pts . The following is the ending balances of accounts at June 30,...
Question 3 20 pts . The following is the ending balances of accounts at June 30, 2019 for Excel Company. Account Title Debits Credits Cash $ 99,000 Short-term investments 81,000 Accounts receivable 296,000 Prepaid expenses 48,000 Land 91,000 Buildings 336,000 Accumulated depreciation-buildings $ 168,000 Equipment 273,000 Accumulated depreciation- equipment 128,000 Accounts payable 181,000 Accrued expenses 53,000 Notes payable 116,000 Mortgage payable 270,000 Common stock 180,000 Retained earnings 128,000 Totals $ 1,224,000 $ 1,224,000 Additional information: 1. The short-term investments account...
A Ltd reported the following information for the year ended 30 June 2018: Accounting profit before...
A Ltd reported the following information for the year ended 30 June 2018: Accounting profit before tax was 600 000. A building was purchased on 1 July 2015 for $1 000 000. It is depreciated at 10% straight-line with zero residual value for accounting purpose and 20% straight-line with zero residual value for tax purposes. Accounts receivable (gross): opening balance, 350 000; closing balance, 500 000. The allowance for doubtful debts: opening balance, 8 000; closing balance, 10 000. During...
Question 3- Financial Reporting The following information has been provided to you for the year ending 30th June 2019. Credit Account Name Debit 27,650 Cash at Bank 820 Electricity Payable Motor Vehicle Accumulated Depreciation - Computer Interest Payable Furniture Accounts Receivable Building Drawings Computer Loan Payable Accumulated Depreciation - Motor Vehicle Equipment Accounts Payable Accumulated Depreciation - Furniture Prepaid Rent Profit Supplies Capital (30/6/19) Unearned Income 32,500 1,600 540 16,800 38,760 136,000 2,300 6,300 21,300 8,940 52,300 12,560 1,700 1,400...
Exercise 12-5 The following information is available for Coronado Industries for the year ended December 31, 2017, Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income $46,575 3,830 167,670 8,487 11,385 294,044 36,225 12,420 4,865 299,115 26,910 207,000 Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds Prepare a statement of...
Question 3 20 pts . The following is the ending balances of accounts at June 30, 2019 for Excel Company. Account Title Debits Credits Cash $ 99,000 Short-term investments 81,000 Accounts receivable 296,000 Prepaid expenses 48,000 Land 91,000 Buildings 336,000 Accumulated depreciation-buildings $ 168,000 Equipment 273,000 Accumulated depreciation- equipment 128,000 Accounts payable 181,000 Accrued expenses 53,000 Notes payable 116,000 Mortgage payable 270,000 Common stock 180,000 Retained earnings 128,000 Totals $ 1,224,000 $ 1,224,000 Additional information: 1. The short-term investments account...
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