Homework Answers
| Waterway Industries | ||
| Statement of Cash flows | ||
| For the Year Ended December 31, 2017 | ||
| Cash flows from operating activities | ||
| Net Income | $ 299,157 | |
| Adjustments to reconcile net income to ; | ||
| Depreciation expense | $ 170,586 | |
| Decrease in accounts payable | $ (3,896) | |
| Increase in accounts receivable | $ (8,635) | |
| Increase in inventory | $ (11,583) | |
| Increase in income tax payable | $ 4,949 | |
| $ 151,421 | ||
| Net cash provided by operating activities | $ 450,578 | |
| Cash flows from investing activities | ||
| Cash received from sale of land | $ 36,855 | |
| Cash used to purchase of building | $ (304,317) | |
| Net cash used by investing activities | $ (267,462) | |
| Cash flows from financing activities | ||
| Cash dividends paid | $ (12,636) | |
| Cash used to purchase treasury stock | $ (27,378) | |
| Cash received from issuing bond | $ 210,600 | |
| Net cash provided by financing activities | $ 170,586 | |
| Net Increase in cash and cash equivalents | $ 353,702 | |
| Cash and cash equivalents at beginning of period | $ 47,385 | |
| Cash and cash equivalents at end of period | $ 401,087 | |
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Beginning cash balance Accounts payable decrease 47,385 3,896 170,586 8,635 11,583 299,157 36,855 12,636 4,949 304,317...
The following information is available for Bramble Corp. for the year ended December 31, 2022. Beginning...
The following information is available for Bramble Corp. for the year ended December 31, 2022. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net Income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $36.000 2.960 129,600 6,560 8,800 227,280 28,000 9,600 3,760 231,200 20,800 160,000 Prepare a statement of cash flows...
all of 17.6 please E17.6 (LO 2) Financial Statement The following information is available for Stamos...
all
of 17.6 please
E17.6 (LO 2) Financial Statement The following information is available for Stamos Corporation for the year ended December 31, 2020. Prepare statement of cash flows-indirect method. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 45,000 3,700...
The following information is available for Larkspur Corporation for the year ended December 31, 2022. Beginning...
The following information is available for Larkspur Corporation for the year ended December 31, 2022. Beginning cash balance $40,000 Accounts payable decrease 3,200 Depreciation expense 84,000 Accounts receivable increase 9,400 Inventory increase 12,300 Net income 257,000 Cash received for sale of land at book value 40,000 Sales revenue 745,000 Cash dividends paid 11,900 Income tax payable increase 4,000 Cash used to purchase building 140,500 Cash used to purchase treasury stock 30,100 Cash received from issuing bonds 269,000 Prepare a statement...
Accounts payable increase Accounts recevable increase Accrued abilities decrease Amortization expense Cash balance january 1 Cash...
Accounts payable increase Accounts recevable increase Accrued abilities decrease Amortization expense Cash balance january 1 Cash balance December 31 Carcha das duidends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock Cash received from sale of equipment Deprecation expense Gain on sale of equipment Inventory decrease 515.300 6.800 5.100 10.200 37.400 25,500 49.300 15 000 102.000 59.500 28.900 49.300 6,800 22.100 129.200 3.400 Support Prepsd expenses increase Averare current...
Accounts payable increase Accounts receivable increase Accrued liabilities decrease Amortization expense Cash balance, January 1 Cash...
Accounts payable increase Accounts receivable increase Accrued liabilities decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock Cash received from sale of equipment Depreciation expense Gain on sale of equipment Inventory decrease Net income Prepaid expenses increase Average current liabilities $13,500 6,000 4,500 9,000 33,000 22,500 43.500 135,000 90,000 52,500 25,500 43,500 6,000 19,500...
12-3 The following information is available for Colaw Corporation for the year ended December 31, 2010...
12-3 The following information is available for Colaw Corporation for the year ended December 31, 2010 Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Sales Cash dividends paid Income tax payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 35,000 3,200 172,000 8,200 13,000 269,100 35,000 747,000 12,000 4,700 114,000 32,000 150,000 Instructions Prepare...
The following information is available for Sweet Acacia Industries for the year ended December 31, 2022....
The following information is available for Sweet Acacia Industries for the year ended December 31, 2022. Beginning cash balance Accounts payable increase Depreciation expense Accounts receivable decrease Inventory decrease Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable decrease Cash used to purchase land Cash used to redeem bonds Cash received from issuing stock $38,400 9.120 65,600 7.680 4.960 91,520 166,400 60,800 6,240 129,600 105,600 256,000 Prepare a statement of cash flows...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Exercise 12-5 The following information is available for Coronado Industries for the year ended December 31,...
Exercise 12-5 The following information is available for Coronado Industries for the year ended December 31, 2017, Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income $46,575 3,830 167,670 8,487 11,385 294,044 36,225 12,420 4,865 299,115 26,910 207,000 Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds Prepare a statement of...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
The following information is available for Bramble Corp. for the year ended December 31, 2022. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net Income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $36.000 2.960 129,600 6,560 8,800 227,280 28,000 9,600 3,760 231,200 20,800 160,000 Prepare a statement of cash flows...
all
of 17.6 please
E17.6 (LO 2) Financial Statement The following information is available for Stamos Corporation for the year ended December 31, 2020. Prepare statement of cash flows-indirect method. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 45,000 3,700...
Accounts payable increase Accounts recevable increase Accrued abilities decrease Amortization expense Cash balance january 1 Cash balance December 31 Carcha das duidends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock Cash received from sale of equipment Deprecation expense Gain on sale of equipment Inventory decrease 515.300 6.800 5.100 10.200 37.400 25,500 49.300 15 000 102.000 59.500 28.900 49.300 6,800 22.100 129.200 3.400 Support Prepsd expenses increase Averare current...
Accounts payable increase Accounts receivable increase Accrued liabilities decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock Cash received from sale of equipment Depreciation expense Gain on sale of equipment Inventory decrease Net income Prepaid expenses increase Average current liabilities $13,500 6,000 4,500 9,000 33,000 22,500 43.500 135,000 90,000 52,500 25,500 43,500 6,000 19,500...
12-3 The following information is available for Colaw Corporation for the year ended December 31, 2010 Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Sales Cash dividends paid Income tax payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 35,000 3,200 172,000 8,200 13,000 269,100 35,000 747,000 12,000 4,700 114,000 32,000 150,000 Instructions Prepare...
The following information is available for Sweet Acacia Industries for the year ended December 31, 2022. Beginning cash balance Accounts payable increase Depreciation expense Accounts receivable decrease Inventory decrease Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable decrease Cash used to purchase land Cash used to redeem bonds Cash received from issuing stock $38,400 9.120 65,600 7.680 4.960 91,520 166,400 60,800 6,240 129,600 105,600 256,000 Prepare a statement of cash flows...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
Exercise 12-5 The following information is available for Coronado Industries for the year ended December 31, 2017, Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income $46,575 3,830 167,670 8,487 11,385 294,044 36,225 12,420 4,865 299,115 26,910 207,000 Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds Prepare a statement of...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
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