Homework Answers
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| Sheffield | |
| Cashflow statement | Amount $ |
| Cash received from operating activities | 830.00 |
| Cash payment for operating activities | (250.00) |
| Net cash provided by operating activities | 580.00 |
| Net cash used by investing activities | (220.00) |
| Net cash provided by financing activities | 800.00 |
| Net Increase/(Decrease) in cash | 1,160.00 |
| So answer is $ 1,160. |
| Novak | ||
| Account Titles | Debit $ | Credit $ |
| Cash | 13,420.00 | |
| Prepaid insurance | 610.00 | |
| Accounts Receivable | 3,050.00 | |
| Accounts Payable | 2,440.00 | |
| Notes Payable | 3,660.00 | |
| Common Stock | 6,100.00 | |
| Dividend | 610.00 | |
| Revenue | 26,840.00 | |
| Expenses | 15,250.00 | |
| Total | 32,940.00 | 39,040.00 |
| So answer is $ 39,040. |
| Concord | |
| Cashflow statement | Amount $ |
| Cash received from operating activities | 620.00 |
| Cash payment for operating activities | (190.00) |
| Net cash provided by operating activities | 430.00 |
| Net cash used by investing activities | (170.00) |
| Net cash provided by financing activities | 600.00 |
| Net Increase/(Decrease) in cash | 860.00 |
| Cash Balance, beginning | 440.00 |
| Cash Balance, ending | 1,300.00 |
| So answer is $ 1,300. | |
| Sheridan | Amount $ |
| Opening balance | 35,280.00 |
| Add: Deposits | 13,440.00 |
| Less: Disbursements | (40,320.00) |
| Cash balance at the end of June | 8,400.00 |
| So answer is $ 8,400 debit balance. | |
| Kingbird | |
| Statement of Retained Earnings | Amount $ |
| Retained Earnings- Opening Balance | 399,000.00 |
| Less: Net Loss | (85,500.00) |
| Less: Cash Dividends | (57,000.00) |
| Retained Earnings- Closing balance | 256,500.00 |
| So answer is $ 256,500 credit balance. |
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