Homework Answers
| Cash flow from Operating activities | Amount(in $) |
| Net Income | 4,800 |
| Add:Depreciation expenses | 2,000 |
| Less:Profit on sale of equipment | (5,000) |
| Cash flow before adjustment of working capital items | 1,800 |
| Less:Increase in Accounts Receivable | (600) |
| Add:Decrease in Inventory | 700 |
| Add:Increase in accounts payable | 3,200 |
| Net Cash flow from Operating activities(A) | 5,100 |
| Cash flow from Investing activities | |
| Purchase of equipment | (4,000) |
| Cash flow from Investing activities(B) | (4,000) |
| Cash flow from Financing activities | |
| Issuance of Common stock | $2,000 |
| Cash flow from Financing activities(C) | $2,000 |
| Net Change in cash(A+B+C) | $3,100 |
| Cash at Beginning of year | $8,100 |
| Cash at end of year | $11,200 |
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II. Statement of Cash Flows: Shown below are the balance sheets of Mintz Corporation for December...
II.Statement of Cash Flows: Shown below are the balance sheets of Mintz Corporation for December 31,...
II.Statement of Cash Flows: Shown below are the balance sheets of Mintz Corporation for December 31, 20x1, and December 31, 20x2: 20x2 20x1 $11,200 Cash $8,100 Receivables (net) Inventory Equipment Accumulated Depreciation 12,600 10,800 20,000 (14.000 $40,600 12,000 11,500 16,000 (12,000) $35,600 Accounts Payable $7,200 22,000 11.400 $40,600 $4,000 20,000 11,600 $35,600 Common Stock Retained Earnings The net income for 20x2 was $4,800. The company did not sell any equipment during the year 20x2, but it did scrap a fully...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are as follows: The condensed bala Spartan Inn Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Assets Current Assets: 20X2 Cash $ $ Marketable Securities Accounts Receivable Inventory Total Current Assets Investments Property and Equipment: 30,000 50,000 100,000 20,000 200,000 100,000 40,000 50,000 95,000 25,000 210,000 60,000 500,000 5,000,000 1,000,000 (1,600,000) 4,900,000 $5,200,000 500,000 6,000,000 1,100,000 (2,000,000) 5,600,000 $5,870,000 Land Building Equipment Accumulated Depreciation...
1.3 Brief Exercise 14-19 Operating Cash Flows: Indirect Method Swasey Company provided the following partial comparative...
1.3 Brief Exercise 14-19 Operating Cash Flows: Indirect Method Swasey Company provided the following partial comparative balance sheets and the ined statement for 20X2 Swasey Company Comparative Balance Sheets At December 31, 20X1 and 20X2 20X1 20x2 Current assets: Accounts receivable Inventories Current liabilities: Wages payable $1,500,000 600,000 $1,165,000 640,000 1,400,000 1,030,000 Swasey Company Income Statement For the Year Ended December 31, 20X2 Revenues Gain on sale of equipment Cost of goods sold Depreciation expense Interest expense Net income $...
Swasey Company provided the following partial comparative balance sheets and the income statement for 20X2. Swasey...
Swasey Company provided the following partial comparative balance sheets and the income statement for 20X2. Swasey Company Partial Comparative Balance Sheets At December 31, 20X1 and 20X2 1 20X1 20X2 2 Current Assets 3 Accounts receivable 745,000.00 677,000.00 4 Inventories 295,000.00 315,000.00 5 Current liabilities 6 Wages payable 705,000.00 680,000.00 Swasey Company Income Statement For the Year Ended December 31, 20X2 1 Revenues 3,410,000.00 2 Gain on sale of equipment 100,000.00 3 Cost of goods sold (1,910,000.00) 4 Depreciation expense...
Swasey Company Partial Comparative Balance Sheets At December 31, 20X1 and 20X2 1 20X1 20X2 2...
Swasey Company Partial Comparative Balance Sheets At December 31, 20X1 and 20X2 1 20X1 20X2 2 Current Assets 3 Accounts receivable 1,500,000.00 1,165,000.00 4 Inventories 600,000.00 640,000.00 5 Current liabilities 6 Wages payable 1,400,000.00 1,030,000.00 Swasey Company Income Statement For the Year Ended December 31, 20X2 1 Revenues 6,000,000.00 2 Gain on sale of equipment 200,000.00 3 Cost of goods sold (3,840,000.00) 4 Depreciation expense (540,000.00) 5 Interest expense (20,000.00) 6 Net income $1,800,000.00 Required: Compute operating cash flows using...
Preparation of a Statement of Cash Flows, Analysis) The comparative balance sheets of Madrasah Corporation at...
Preparation of a Statement of Cash Flows, Analysis) The comparative balance sheets of Madrasah Corporation at the beginning and end of the year 2020 appear below. Madrasah Corporation Balance Sheets Assets Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Cash $ 20,000 $ 13,000 $ 7,000 Inc. Accounts receivable 106,000 88,000 18,000 Inc. Equipment 39,000 22,000 17,000 Inc. Less: Accumulated depreciation—equipment 17,000 11,000 6,000 Inc. Total $148,000 $112,000 Liabilities and Stockholders' Equity Accounts payable $ 20,000 $ 15,000 5,000 Inc. Common...
74 Chapter 2 Problem 10 Alpha Café Unclassified Balance Sheets December 31, 20X1 and 20X2 20X2...
74 Chapter 2 Problem 10 Alpha Café Unclassified Balance Sheets December 31, 20X1 and 20X2 20X2 $ 30,000 30,000 26,000 18,000 25,000 555,000 (200,000) $484.000 20X1 $ 15,000 Cash 25,000 Marketable Securities 24,000 Accounts Receivable 20,000 Inventory 10,000 Prepaid Expenses 420,000 Equipment (180,000) Accumulated Depreciation $334,000 Total Assets ch Current Liabilities: Serene Accounts Payable $15,000 blonde Accrued Expenses 10,000 Dividends Payable 12 23,000 Mortgage Payable (current) e s lo 20,000 Mortgage Payable (long-term) 150,000 Common Stock 120,000 Treasury Stock nobstbewo...
I am preparing a statement of cash flows below are the income statement, balance sheets for...
I
am preparing a statement of cash flows
below are the income statement, balance sheets for the current
and previous year, and given info.
I have completed most of it but I am missing information
somewhere. I have also included what I have so far.
nancial Reporting Step 2 Template_20151111 (1) - Ex... Search Formulas Data Review View Help AA == A. 2 Wrap Text Merge & Center - Accounting $ -% -98 Insert Delete Format Conditional Format as Cell...
III. Statement of Cash Flows: Comparative balance sheets of Shawnee Inc. as of December 31, 20x8...
III. Statement of Cash Flows: Comparative balance sheets of Shawnee Inc. as of December 31, 20x8 and 20x7 and information relating to activities for the year 20x8 are presented below: 12/31/x7 Cash Accounts Receivable Merchandise Inventory Long-term Investments Property & Equipment (Cost) Accumulated Depreciation Intangible Assets 12/31/x8 $71,200 69,500 29,000 22,300 99,500 (19,000) 7,500 280,000 $33,700 60,000 24,000 37,500 75,000 (11,500) 8,000 226,700 Accounts Payable Long-Term Note Payable Common Stock Additional Paid-in Capital Retained Earnings 33,500 26,000 35,000 117,000 68,500...
Compute operating cash flows using the direct method. Tidwell Company has provided the following partial comparative...
Compute operating cash flows using the direct method. Tidwell Company has provided the following partial comparative balance sheets and the income statement for 20X2. Tidwell Company Comparative Balance Sheets At December 31, 20X1 and 20X2 1 20X1 20X2 2 Current assets: 3 Accounts receivable $350,000.00 $282,000.00 4 Inventories 126,000.00 147,000.00 5 Current liabilities: 6 Accounts payable 299,000.00 239,000.00 Tidwell Company Income Statement For the Year Ended December 31, 20X2 1 Revenues $1,208,000.00 2 Gain on sale of equipment 55,000.00 3...
II.Statement of Cash Flows: Shown below are the balance sheets of Mintz Corporation for December 31, 20x1, and December 31, 20x2: 20x2 20x1 $11,200 Cash $8,100 Receivables (net) Inventory Equipment Accumulated Depreciation 12,600 10,800 20,000 (14.000 $40,600 12,000 11,500 16,000 (12,000) $35,600 Accounts Payable $7,200 22,000 11.400 $40,600 $4,000 20,000 11,600 $35,600 Common Stock Retained Earnings The net income for 20x2 was $4,800. The company did not sell any equipment during the year 20x2, but it did scrap a fully...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are as follows: The condensed bala Spartan Inn Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Assets Current Assets: 20X2 Cash $ $ Marketable Securities Accounts Receivable Inventory Total Current Assets Investments Property and Equipment: 30,000 50,000 100,000 20,000 200,000 100,000 40,000 50,000 95,000 25,000 210,000 60,000 500,000 5,000,000 1,000,000 (1,600,000) 4,900,000 $5,200,000 500,000 6,000,000 1,100,000 (2,000,000) 5,600,000 $5,870,000 Land Building Equipment Accumulated Depreciation...
1.3 Brief Exercise 14-19 Operating Cash Flows: Indirect Method Swasey Company provided the following partial comparative balance sheets and the ined statement for 20X2 Swasey Company Comparative Balance Sheets At December 31, 20X1 and 20X2 20X1 20x2 Current assets: Accounts receivable Inventories Current liabilities: Wages payable $1,500,000 600,000 $1,165,000 640,000 1,400,000 1,030,000 Swasey Company Income Statement For the Year Ended December 31, 20X2 Revenues Gain on sale of equipment Cost of goods sold Depreciation expense Interest expense Net income $...
74 Chapter 2 Problem 10 Alpha Café Unclassified Balance Sheets December 31, 20X1 and 20X2 20X2 $ 30,000 30,000 26,000 18,000 25,000 555,000 (200,000) $484.000 20X1 $ 15,000 Cash 25,000 Marketable Securities 24,000 Accounts Receivable 20,000 Inventory 10,000 Prepaid Expenses 420,000 Equipment (180,000) Accumulated Depreciation $334,000 Total Assets ch Current Liabilities: Serene Accounts Payable $15,000 blonde Accrued Expenses 10,000 Dividends Payable 12 23,000 Mortgage Payable (current) e s lo 20,000 Mortgage Payable (long-term) 150,000 Common Stock 120,000 Treasury Stock nobstbewo...
I
am preparing a statement of cash flows
below are the income statement, balance sheets for the current
and previous year, and given info.
I have completed most of it but I am missing information
somewhere. I have also included what I have so far.
nancial Reporting Step 2 Template_20151111 (1) - Ex... Search Formulas Data Review View Help AA == A. 2 Wrap Text Merge & Center - Accounting $ -% -98 Insert Delete Format Conditional Format as Cell...
III. Statement of Cash Flows: Comparative balance sheets of Shawnee Inc. as of December 31, 20x8 and 20x7 and information relating to activities for the year 20x8 are presented below: 12/31/x7 Cash Accounts Receivable Merchandise Inventory Long-term Investments Property & Equipment (Cost) Accumulated Depreciation Intangible Assets 12/31/x8 $71,200 69,500 29,000 22,300 99,500 (19,000) 7,500 280,000 $33,700 60,000 24,000 37,500 75,000 (11,500) 8,000 226,700 Accounts Payable Long-Term Note Payable Common Stock Additional Paid-in Capital Retained Earnings 33,500 26,000 35,000 117,000 68,500...
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