The following is selected financial information of Gordon Publishers for the year ended December 31, 2021....
The following is selected financial information of Gordon Publishers for the year ended December 31, 2021.
|
Cash |
$ 35,000 |
|
|
Net income |
6,300 |
|
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Total liabilities |
80,000 |
|
|
Stockholders’ equity |
185,000 |
|
|
Cost of goods sold |
165,000 |
|
|
Investing cash flows |
(6,400) |
|
|
Sales |
210,500 |
|
|
Noncash assets |
230,000 |
|
|
Financing cash flows |
(87,000) |
|
|
Other expenses |
39,200 |
|
|
Operating cash flows |
92,100 |
|
|
Cash at beginning of the year |
36,300 |
|
Prepare an income statement for Gordon Publishers at December 31, 2021.
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Gordon Publishers Income Statement |
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For Year Ended December 31, 2021 |
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Sales |
? |
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| ? |
? |
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Gross profit |
? |
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| ? |
? |
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Net income |
? |
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Homework Answers
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The following is selected financial
information of Gordon Publishers for the year ended December 31,
2021....
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VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2021 Net sales $3,436,000 Expenses: Cost of goods sold $2,250,000 918,000 33,000 8,600 Operating expenses Depreciation expense Loss on sale of land Interest expense 18,000 Income tax expense 54,000 Total expenses 3,281,600 154,400 Net income VIDEO PHONES, INC Balance Sheets December 31 2021 2020 Assets Current assets: $194,280 66,000 141,000 6,720 Cash 267,160 87,600 105,000 13,440 Accounts receivable Inventory Prepaid rent Long-term assets: 111,000 216,000 282,000 0 Investments Land...
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$315,000 ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2021 Net sales Expenses: Cost of goods sold $190,000 Operating expenses 61,000 Depreciation expense 16,100 Income tax expense 22,500 Total expenses 289,600 $ 25,400 Net income ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2021, compared to December 31, 2020 Decrease in accounts receivable Increase in inventory Decrease in prepaid rent Increase in salaries payable Decrease in accounts payable Increase in income tax payable $ 6,100 13,100 9,100 5,100...
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents$6,300Accounts receivable (net)33,000Inventory73,000Property, plant, and equipment (net)185,000Accounts payable52,000Salaries payable24,000Paid-in capital165,000The only asset not listed is short-term investments. The only liabilities not listed are $43,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.5:1. Required:Determine the following at December 31, 2021:
Following is selected financial Information of Kla Company for the year ended December 31, 2019. Cash...
Following is selected financial Information of Kla Company for the year ended December 31, 2019. Cash used by investing activities Net increase in cash Cash used by financing activities Cash from operating activities Cash, December 31, 2018 $ (3,890) 800 (3,800) 7,600 3,600 Required: Prepare the 2019 year-end statement of cash flows for Kia Company. (Cash outflows should be indicated with a minus sign.) KIA COMPANY Statement of Cash Flows For Year Ended December 31, 2019
Following is selected financial information of Kia Company for the year ended December 31, 2019. points...
Following is selected financial information of Kia Company for the year ended December 31, 2019. points Cash used by investing activities Net increase in cash Cash used by financing activities Cash from operating activities Cash, December 31, 2018 $(2,250) 500 (3,050) 5,800 4,300 eBook Required: Prepare the 2019 year-end statement of cash flows for Kia Company. (Cash outflows should be indicated with a minus sign.) Print KIA COMPANY Statement of Cash Flows For Year Ended December 31, 2019 $
Following is selected financial information of Kia Company for the year ended December 31, 2019. points...
Following is selected financial information of Kia Company for the year ended December 31, 2019. points Cash used by investing activities Net increase in cash Cash used by financing activities Cash from operating activities Cash, December 31, 2018 $(2,250) 500 (3,050) 5,800 4,300 eBook Required: Prepare the 2019 year-end statement of cash flows for Kia Company. (Cash outflows should be indicated with a minus sign.) Print KIA COMPANY Statement of Cash Flows For Year Ended December 31, 2019 $ 0
Income Statement For the Year Ended December 31, 2021 $2,576,000 Net sales Expenses: Cost of goods...
Income Statement For the Year Ended December 31, 2021 $2,576,000 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses $1,550,000 778,000 19,000 7,200 11,000 40,e00 2,405,200 $ 170,800 Net income VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 Assets Current assets: $ 77,560 52,000 127,000 4,440 $152,320 72,200 105,000 8,880 Cash Accounts receivable Inventory Prepaid rent Long-term assets : Investments 97,000 202,000 254,000 (59,400) $832,000...
The statement of cash flows for the year ended December 31, 2021, for Bronco Metals is...
The statement of cash flows for the year ended December 31, 2021, for Bronco Metals is presented below. BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Collections from customers $ 408,000 Interest on notes receivable 5,100 Dividends received from investments 3,500 Purchase of inventory (197,000) Payment of operating expenses (70,000) Payment of interest on notes payable (9,100) Net cash flows from operating activities Cash flows from investing activities: Collection of...
The statement of cash flows for the year ended December 31, 2021, for Whiteside Incorporated is...
The statement of cash flows for the year ended December 31, 2021, for Whiteside Incorporated is presented below. $ 214,300 WHITESIDE INCORPORATED Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Cash received from customers $ 500,000 Interest on notes receivable 12,800 Dividends received 5,300 Purchase of inventory (196,000) Payment of operating expenses (91,000) Payment of interest on debt (16,800) Net cash flows from operating activities Cash flows from investing activities: Sale of...
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:...
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents Nocounts receivable (net) Inventory Property, plant, and equipment (net) Accounts payable Salaries payable Paid-in capital $ 6,300 33,000 73,000 185,000 52,000 24,000 165,000 nces The only asset not listed is short-term investments. The only liabilities not listed are $43,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end...
VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2021 Net sales $3,436,000 Expenses: Cost of goods sold $2,250,000 918,000 33,000 8,600 Operating expenses Depreciation expense Loss on sale of land Interest expense 18,000 Income tax expense 54,000 Total expenses 3,281,600 154,400 Net income VIDEO PHONES, INC Balance Sheets December 31 2021 2020 Assets Current assets: $194,280 66,000 141,000 6,720 Cash 267,160 87,600 105,000 13,440 Accounts receivable Inventory Prepaid rent Long-term assets: 111,000 216,000 282,000 0 Investments Land...
$315,000 ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2021 Net sales Expenses: Cost of goods sold $190,000 Operating expenses 61,000 Depreciation expense 16,100 Income tax expense 22,500 Total expenses 289,600 $ 25,400 Net income ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2021, compared to December 31, 2020 Decrease in accounts receivable Increase in inventory Decrease in prepaid rent Increase in salaries payable Decrease in accounts payable Increase in income tax payable $ 6,100 13,100 9,100 5,100...
Following is selected financial Information of Kla Company for the year ended December 31, 2019. Cash used by investing activities Net increase in cash Cash used by financing activities Cash from operating activities Cash, December 31, 2018 $ (3,890) 800 (3,800) 7,600 3,600 Required: Prepare the 2019 year-end statement of cash flows for Kia Company. (Cash outflows should be indicated with a minus sign.) KIA COMPANY Statement of Cash Flows For Year Ended December 31, 2019
Following is selected financial information of Kia Company for the year ended December 31, 2019. points Cash used by investing activities Net increase in cash Cash used by financing activities Cash from operating activities Cash, December 31, 2018 $(2,250) 500 (3,050) 5,800 4,300 eBook Required: Prepare the 2019 year-end statement of cash flows for Kia Company. (Cash outflows should be indicated with a minus sign.) Print KIA COMPANY Statement of Cash Flows For Year Ended December 31, 2019 $
Following is selected financial information of Kia Company for the year ended December 31, 2019. points Cash used by investing activities Net increase in cash Cash used by financing activities Cash from operating activities Cash, December 31, 2018 $(2,250) 500 (3,050) 5,800 4,300 eBook Required: Prepare the 2019 year-end statement of cash flows for Kia Company. (Cash outflows should be indicated with a minus sign.) Print KIA COMPANY Statement of Cash Flows For Year Ended December 31, 2019 $ 0
Income Statement For the Year Ended December 31, 2021 $2,576,000 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses $1,550,000 778,000 19,000 7,200 11,000 40,e00 2,405,200 $ 170,800 Net income VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 Assets Current assets: $ 77,560 52,000 127,000 4,440 $152,320 72,200 105,000 8,880 Cash Accounts receivable Inventory Prepaid rent Long-term assets : Investments 97,000 202,000 254,000 (59,400) $832,000...
The statement of cash flows for the year ended December 31, 2021, for Bronco Metals is presented below. BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Collections from customers $ 408,000 Interest on notes receivable 5,100 Dividends received from investments 3,500 Purchase of inventory (197,000) Payment of operating expenses (70,000) Payment of interest on notes payable (9,100) Net cash flows from operating activities Cash flows from investing activities: Collection of...
The statement of cash flows for the year ended December 31, 2021, for Whiteside Incorporated is presented below. $ 214,300 WHITESIDE INCORPORATED Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Cash received from customers $ 500,000 Interest on notes receivable 12,800 Dividends received 5,300 Purchase of inventory (196,000) Payment of operating expenses (91,000) Payment of interest on debt (16,800) Net cash flows from operating activities Cash flows from investing activities: Sale of...
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents Nocounts receivable (net) Inventory Property, plant, and equipment (net) Accounts payable Salaries payable Paid-in capital $ 6,300 33,000 73,000 185,000 52,000 24,000 165,000 nces The only asset not listed is short-term investments. The only liabilities not listed are $43,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end...
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