Homework Answers
Missing information is as calculated below:
1. Account Receivable: Change in account receivable is -4,900 and opening account receivable is 32,900.
So closing account receivable will be $37,800
2. Inventory:
Change in inventory is -24,500 and opening inventory is 70,900.
So closing inventory will be $95,400
3. Depreciation expense is $15,900 as shown in the cash flow statement.
4. Income taxes is (441,200-15,900-9,900-98,500-299,000) = 17,900
5. Prepaid Rent is (2,900-3,490 ) = 590
6. Accrued liabilities is 10,000-12,900 = -2,900
7. Net cash provided by operating activities is total of 72,300+15,900-4,900-24,500+590-2,900+4,900 = 61,390
8. Additional capital contributed is $29,500
9. Net cash provided by financing activities is 25,810-61,390+28,500 = -7,080
10. Payment of cash dividend is -7,080 = 29,500-24,500- Cash dividend
Cash dividend = 29,500-24,500+7,080
= 12,080
Add Answer to:
Condensed financial data of Monopoly Corporation appear below A cash dividend was declared and paid in...
It’s together...pls help solve ASAP tnks Question 4 (40 scores) Condensed financial data of Monopoly Corporation...
It’s together...pls help solve ASAP tnks
Question 4 (40 scores) Condensed financial data of Monopoly Corporation appear below Monopoly Corporation Comparative Balance Sheet December 31 Assets $28,000 32,000 70,000 2,000 200,000 $44,000 Accounts receivable Inventories Prepaid rent Property, plant, and equipment Accumulatod depreciation 224,000 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities $38,000 10,000 130,000 $34,000 12,000 150,000 Notes payable (long term) Contributed capital Retained carnings Total liabilities and stockholders" equity 50,000 25,000 Income Statement Year Ended December...
The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS...
The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 146,750 $ 159,000 Accounts receivable 76,000 89,500 Inventory 90,000 75,500 Prepaid rent 3,000 1,500 Long-term assets: Land 455,000 455,000 Equipment 750,000 645,000 Accumulated depreciation (415,000 ) (258,000 ) Total assets $ 1,105,750 $ 1,167,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 94,000 $ 80,500 Interest payable 6,750...
The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: 2020 $...
The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: 2020 $ 159,000 89,500 75,500 1,500 PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 Assets Current assets: Cash $ 146,750 Accounts receivable 76,000 Inventory 90,000 Prepaid rent 3,000 Long-term assets: Land 455,000 Equipment 750,000 Accumulated depreciation (415, 000) Total assets $1,105,750 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 94,000 Interest payable 6,750 Income tax payable 7,000 Long-term liabilities: Notes payable 112,500...
Financial statements for Maraby Corporation appear below: Maraby Corporation Balance Sheet December 31, Year 2 and...
Financial statements for Maraby Corporation appear below: Maraby Corporation Balance Sheet December 31, Year 2 and Year 1 (dollars in thousands) Year 2 Year 1 Current assets: Cash and marketable securities $ 220 $ 190 Accounts receivable, net 190 160 Inventory 140 150 Prepaid expenses 70 80 Total current assets 620 580 Noncurrent assets: Plant & equipment, net 1,180 1,150 Total assets $ 1,800 $ 1,730 Current liabilities: Accounts payable $ 100 $ 120 Accrued liabilities 100 70 Notes payable,...
Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Comparative Balance Sheets December...
Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Comparative Balance Sheets December 31 Assets 2019 Cash $91,000 Accounts receivable 89,900 Inventory 121,000 Investments 84,300 Equipment 249,000 Accumulated depreciation equipment (49,200) $586,000 Liabilities and Stockholders' Equity Accounts payable $57,600 Accrued expenses payable 12,500 Bonds payable 102,000 Common stock 250,000 Retained earnings 163,900 $586,000 2018 $47,300 56,300 102,000 87,500 205,000 (39,900) $458,200 $ 48,200 18,600 69,200 191,000 131,200 $458,200 Swifty Corporation Income Statement For the Year Ended December...
Mayfield Corporation has provided the following financial data: Balance Sheet Assets Current assets: Cash $ 288,000...
Mayfield Corporation has provided the following financial data: Balance Sheet Assets Current assets: Cash $ 288,000 Accounts receivable, net 301,000 Inventory 228,000 Prepaid expenses 23,000 Total current assets 840,000 Plant and equipment, net 730,000 Total assets $ 1,570,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 234,000 Accrued liabilities 65,000 Notes payable, short term 58,000 Total current liabilities 357,000 Bonds payable 126,000 Total liabilities 483,000 Stockholders' equity: Common stock, $4 par value 386,000 Additional paid-in capital 93,000 Retained earnings...
The following account balances appear in the 2021 adjusted trial balance of Blue Devils Corporation: Cash,...
The following account balances appear in the 2021 adjusted trial balance of Blue Devils Corporation: Cash, $3,000; Accounts Receivable, $7,000; Supplies, $17,000; Equipment, $100,000; Accumulated Depreciation, $35,000; Accounts Payable, $24,000; Salaries Payable, $14,000; Common Stock, $40,000; and Retained Earnings, LVVILUVVIVI VINTIVI Balance Sheet December 31, 2021 Assets Liabilities Current assets: Current liabilities: Cash $ $ 24,000 3,000 7,000 17,000 Accounts Payable Salaries Payable Accounts Receivable 14,000 Supplies Total current assets 27,000 Total current liabilities 38,000 Stockholders' Equity Long-term assets: Equipment...
Pinnacle Plus declared and paid a cash dividend of $9,100 in the current year. Its comparative...
Pinnacle Plus declared and paid a cash dividend of $9,100 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current Year Previous Year Income Statement Sales Revenue $ 235,000 $ 199,000 Cost of Goods Sold 102,000 98,000 Gross Profit 133,000 101,000 Operating Expenses 61,000 53,000 Interest Expense 6,500 6,500 Income before Income Tax Expense 65,500 41,500 Income Tax Expense (30%) 19,650 12,450 Net Income $ 45,850 $ 29,050 Balance Sheet Cash $...
The financial statements of Green Corporation appear below: Green Corporation Comparative Balance Sheets December 31, 2018...
The financial statements of Green Corporation appear below: Green Corporation Comparative Balance Sheets December 31, 2018 - 19 —————————————————————————————————— Assets 2019 2018 Cash $150,000 $ 300,000 Short-term investments 150,000 450,000 Accounts receivable (net) 300,000 225,000 Inventory 450,000 525,000 Property, plant and equipment (net) 1,950,000 2,250,000 Total assets $3,000,000 $3,750,000 Liabilities and stockholders' equity Accounts payable $150,000 $ 225,000 Short-term notes payable 300,000 675,000 Bonds payable 600,000 1,200,000 Common stock 1,125,000 1,125,000 Retained earnings 825,000 525,000 Total liabilities and stockholders' equity ...
Question CAR2: 8 Marks The financial statements of Star Corporation appear below: Star Corporation Comparative Balance...
Question CAR2: 8 Marks The financial statements of Star Corporation appear below: Star Corporation Comparative Balance Sheets December 31, 2018 - 19 Assets 2019 2018 Cash Short-term investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets S 50,000 50,000 100,000 150,000 650.000 $1.000.000 $ 100,000 150,000 75,000 175,000 750,000 $1.250,000 Liabilities and stockholders' equity Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 50,000 100,000 200,000 375,000 275.000 $1.000.000...
It’s together...pls help solve ASAP tnks
Question 4 (40 scores) Condensed financial data of Monopoly Corporation appear below Monopoly Corporation Comparative Balance Sheet December 31 Assets $28,000 32,000 70,000 2,000 200,000 $44,000 Accounts receivable Inventories Prepaid rent Property, plant, and equipment Accumulatod depreciation 224,000 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities $38,000 10,000 130,000 $34,000 12,000 150,000 Notes payable (long term) Contributed capital Retained carnings Total liabilities and stockholders" equity 50,000 25,000 Income Statement Year Ended December...
The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: 2020 $ 159,000 89,500 75,500 1,500 PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 Assets Current assets: Cash $ 146,750 Accounts receivable 76,000 Inventory 90,000 Prepaid rent 3,000 Long-term assets: Land 455,000 Equipment 750,000 Accumulated depreciation (415, 000) Total assets $1,105,750 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 94,000 Interest payable 6,750 Income tax payable 7,000 Long-term liabilities: Notes payable 112,500...
Problem 12-12A Condensed financial data of Swifty Corporation appear below. Swifty Corporation Comparative Balance Sheets December 31 Assets 2019 Cash $91,000 Accounts receivable 89,900 Inventory 121,000 Investments 84,300 Equipment 249,000 Accumulated depreciation equipment (49,200) $586,000 Liabilities and Stockholders' Equity Accounts payable $57,600 Accrued expenses payable 12,500 Bonds payable 102,000 Common stock 250,000 Retained earnings 163,900 $586,000 2018 $47,300 56,300 102,000 87,500 205,000 (39,900) $458,200 $ 48,200 18,600 69,200 191,000 131,200 $458,200 Swifty Corporation Income Statement For the Year Ended December...
The following account balances appear in the 2021 adjusted trial balance of Blue Devils Corporation: Cash, $3,000; Accounts Receivable, $7,000; Supplies, $17,000; Equipment, $100,000; Accumulated Depreciation, $35,000; Accounts Payable, $24,000; Salaries Payable, $14,000; Common Stock, $40,000; and Retained Earnings, LVVILUVVIVI VINTIVI Balance Sheet December 31, 2021 Assets Liabilities Current assets: Current liabilities: Cash $ $ 24,000 3,000 7,000 17,000 Accounts Payable Salaries Payable Accounts Receivable 14,000 Supplies Total current assets 27,000 Total current liabilities 38,000 Stockholders' Equity Long-term assets: Equipment...
Question CAR2: 8 Marks The financial statements of Star Corporation appear below: Star Corporation Comparative Balance Sheets December 31, 2018 - 19 Assets 2019 2018 Cash Short-term investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets S 50,000 50,000 100,000 150,000 650.000 $1.000.000 $ 100,000 150,000 75,000 175,000 750,000 $1.250,000 Liabilities and stockholders' equity Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 50,000 100,000 200,000 375,000 275.000 $1.000.000...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago