Homework Answers
1) Assets increased by $55,700, So Assets revised are $107,000 + $55,700 = $162,700
Stock holder's equity increased by $21,400, so Equity revised is $83,500 + $21,400 = $104,900
So, Liabilities revised is $162700 - $104900 = $57,800
Change in liabilities = $57,800 - $23,500 = $34,300
Increase of $34,300.
2) Cash paid to suppliers and employees appear in cash flow from operating activities section of the statement of cash flows.
3)
Change in Cash is
cash flow from operating activities = $34,800
cash flow from Investing activities = $36,000
cash flow used by Financing activities = - $54,000
Change in cash for the period = $16,800 increase
4) Basic Accounting equation, Assets = Liabilities + Equity
The above equation depicts the Balance sheet.
So, Answer is Balance Sheet.
Add Answer to:
^ last answer is 16,800(its cut off)
A company began the year with assets of $107.000,...
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1. Home Realty, Incorporated, has been operating for three years and is owned by three investors....
1. Home Realty, Incorporated, has been operating for three years
and is owned by three investors. J. Doe owns 60 percent of the
total outstanding stock of 9,000 shares and is the managing
executive in charge. On December 31, the following financial items
for the entire year were determined: sales revenue, $186,000;
salaries and wages expense, $101,000; interest expense, $6,700;
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Cash
$16,800
Inventory
7,000
Land
2,600
Common stock
15,000
Retained earnings
11,400
During 2016, the company experienced the following events:
1.
Purchased inventory that cost $11,800 on account from Ross
Company under terms 2/10, n/30. The merchandise was delivered FOB
shipping point. Freight costs of $860 were paid in cash.
2.
Returned $750 of the inventory that it had purchased because the
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please correct
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1. Home Realty, Incorporated, has been operating for three years
and is owned by three investors. J. Doe owns 60 percent of the
total outstanding stock of 9,000 shares and is the managing
executive in charge. On December 31, the following financial items
for the entire year were determined: sales revenue, $186,000;
salaries and wages expense, $101,000; interest expense, $6,700;
advertising expenses, $9,225; and income tax expense, $18,900. Also
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At the beginning of 2016, the Redd Company had the following
balances in its accounts:
Cash
$16,800
Inventory
7,000
Land
2,600
Common stock
15,000
Retained earnings
11,400
During 2016, the company experienced the following events:
1.
Purchased inventory that cost $11,800 on account from Ross
Company under terms 2/10, n/30. The merchandise was delivered FOB
shipping point. Freight costs of $860 were paid in cash.
2.
Returned $750 of the inventory that it had purchased because the
inventory was damaged...
please correct
5. A company began a year with Cash of SK. These items increased by the amounts displayed during the calendar year: Inventories, S72; Accumulated depreciation, $20: Accounts receivable, $8, Accounts payable, $2; Notes payable, $8; purchases of Fixed assets, $80; Common stock, $25. Net income is $34. There were no changes in long-term debt and no earnings were distributed to stockholders. Complete the following Statement of Cash Flows: Cash Flows from Operating Activities Net income 34 Depreciation 10...
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