Homework Answers
| Cash Flows from Financing Activities | ||
| Cash received from sale of common stock (1,000*12) | 12,000 | |
| Cash dividend (5,000+4,000-3,000) | -6,000 | |
| Net cash flows from Financing Activities | 6,000 | |
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Takaki Inc. reported net income of $53,000 for 2017. The liability and equity accounts from the...
Financing Activities on the Statement of Cash Flows Takaki Inc. reported net income of $53,000 for...
Financing Activities on the Statement of Cash Flows Takaki Inc. reported net income of $53,000 for 20Y7. The liability and equity accounts from the company's comparative balance sheet are as follows: Dec. 31, 2047 Dec. 31, 2016 Accounts payable $31,900 $28,400 Dividends payable 5,000 3,000 Common stock, $5 par value 80,000 75,000 Paid-in capital in excess of par-common stock 37,000 30,000 Retained earnings 130,600 81,600 During the year, the company declared dividends of $4,000 and issued 1,000 shares of common...
Determining Cash Flows from (Used for) Operating Activities Yeoman Inc. reported the following data: Net income...
Determining Cash Flows from (Used for) Operating Activities
Yeoman Inc. reported the following data:
Net income
$389,200
Depreciation expense
62,600
Loss on disposal of equipment
28,400
Increase in accounts receivable
25,900
Increase in accounts payable
11,900
Prepare the Cash Flows from (used for) Operating Activities
section of the statement of cash flows, using the indirect method.
Use the minus sign to indicate cash outflows, cash payments,
decreases in cash, or any negative adjustments.
Yeoman Inc. Statement of Cash Flows (partial)...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
a. Net income for the year was $117,000 b. Dividends of $114,000 cash were declared and...
a. Net income for the year was $117,000 b. Dividends of $114,000 cash were declared and paid c. Scoreteck's only noncash expense was $87,000 of depreciation d. The company purchased plant assets for $87,000 caslh e. Notes payable of $37,000 were issued for $37,000 cash Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required.) Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31,...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 2041, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $128 Accounts receivable (net) Inventories Land Equipment Accumulated depreciation-equipment (16) Total Assets $395 $269 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Paid-in capital: Excess of issue price over par- common stock Retained earnings 244 Total liabilities and stockholders' equity $395 The following additional...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2017, is as follows: Dec. 31, 2018 Dec. 31, 2017 Assets Cash $69,780 $85,420 Accounts receivable (net) 107,220 115,150 Merchandise inventory 153,160 142,720 Prepaid expenses 6,240 4,330 312,010 255,720 Equipment Accumulated depreciation-equipment (81,120) (62,710) Total assets $567,290 $540,630 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $119,130 $112,990 Mortgage note payable 0 162,190 18,000 11,000 271,000 152,000 Common stock, $1 par...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $68,210 $83,770 Accounts receivable (net) 104,820 112,930 Inventories 149,750 139,970 Prepaid expenses 6,100 4,240 Equipment 305,020 250,780 Accumulated depreciation-equipment (79,310) (61,500) Total assets $554,590 $530,190 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $116,460 $110,810 Mortgage note payable 0 159,060 Common stock, $1 par 18,000 11,000 Paid-in capital in...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $61,270 $75,480 Accounts receivable (net) 94,140 101,750 Inventories 134,490 126,100 Prepaid expenses 5,480 3,820 Equipment 273,960 225,950 Accumulated depreciation-equipment (71,230) (55,410) Total assets $498,110 $477,690 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $104,600 $99,840 Mortgage note payable 0 143,310 Common stock, $1 par 16,000 10,000 Paid-in capital in...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is...
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $55,870 $68,540 Accounts receivable (net) 85,850 92,390 Inventories 122,620 114,520 Prepaid expenses 5,000 3,470 Equipment 249,820 205,170 Accumulated depreciation-equipment (64,950) (50,320) Total assets $454,210 $433,770 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $95,380 $90,660 Mortgage note payable 0 130,130 Common stock, $1 par 14,000 9,000 Paid-in capital in excess of par-common stock 197,000...
Please help the numbers. Statement of Cash Flows-Direct Method applied to PR 16-1A The comparative balance...
Please help the numbers.
Statement of Cash Flows-Direct Method applied to PR 16-1A The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is as follows: Dec. 31, 2013 Dec. 31, 20Y2 Assets Cash $ 236,240 $ 222,720 Accounts receivable (net) 86,560 79,410 Inventories 243,970 234,590 Investments U 91,280 Land Equipment 125,050 266,620 (63,400) 209,940 (56,600) Accumulated depreciation-equipment Total assets $895,040 $781,340 Liabilities and Stockholders' Equity $ 153,920 Accounts payable Accrued expenses payable $ 161,620 16,250 20,310...
Financing Activities on the Statement of Cash Flows Takaki Inc. reported net income of $53,000 for 20Y7. The liability and equity accounts from the company's comparative balance sheet are as follows: Dec. 31, 2047 Dec. 31, 2016 Accounts payable $31,900 $28,400 Dividends payable 5,000 3,000 Common stock, $5 par value 80,000 75,000 Paid-in capital in excess of par-common stock 37,000 30,000 Retained earnings 130,600 81,600 During the year, the company declared dividends of $4,000 and issued 1,000 shares of common...
Determining Cash Flows from (Used for) Operating Activities
Yeoman Inc. reported the following data:
Net income
$389,200
Depreciation expense
62,600
Loss on disposal of equipment
28,400
Increase in accounts receivable
25,900
Increase in accounts payable
11,900
Prepare the Cash Flows from (used for) Operating Activities
section of the statement of cash flows, using the indirect method.
Use the minus sign to indicate cash outflows, cash payments,
decreases in cash, or any negative adjustments.
Yeoman Inc. Statement of Cash Flows (partial)...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
a. Net income for the year was $117,000 b. Dividends of $114,000 cash were declared and paid c. Scoreteck's only noncash expense was $87,000 of depreciation d. The company purchased plant assets for $87,000 caslh e. Notes payable of $37,000 were issued for $37,000 cash Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required.) Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 2041, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $128 Accounts receivable (net) Inventories Land Equipment Accumulated depreciation-equipment (16) Total Assets $395 $269 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Paid-in capital: Excess of issue price over par- common stock Retained earnings 244 Total liabilities and stockholders' equity $395 The following additional...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2017, is as follows: Dec. 31, 2018 Dec. 31, 2017 Assets Cash $69,780 $85,420 Accounts receivable (net) 107,220 115,150 Merchandise inventory 153,160 142,720 Prepaid expenses 6,240 4,330 312,010 255,720 Equipment Accumulated depreciation-equipment (81,120) (62,710) Total assets $567,290 $540,630 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $119,130 $112,990 Mortgage note payable 0 162,190 18,000 11,000 271,000 152,000 Common stock, $1 par...
Please help the numbers.
Statement of Cash Flows-Direct Method applied to PR 16-1A The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is as follows: Dec. 31, 2013 Dec. 31, 20Y2 Assets Cash $ 236,240 $ 222,720 Accounts receivable (net) 86,560 79,410 Inventories 243,970 234,590 Investments U 91,280 Land Equipment 125,050 266,620 (63,400) 209,940 (56,600) Accumulated depreciation-equipment Total assets $895,040 $781,340 Liabilities and Stockholders' Equity $ 153,920 Accounts payable Accrued expenses payable $ 161,620 16,250 20,310...
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