25. The following information relates to the Acme Corporation for the year ending December 31, 2019. Net Income Depreciation Expense Amortization of Intangible Assets Loss on sale of long term assets Beginning Accounts Receivable Ending Accounts Receivable Beginning Inventory Ending Inventory Beginning Prepaid Expenses Ending Prepaid Expenses Beginning Accounts Payable Ending Accounts Payable Purchase of Long-Term Assets for Cash Cash from Issuance of Long-Term Debt Issuance of Stock for Cash Purchase of Treasury Stock Sale of Long-Term Assets at Cost Cash Dividends 500,000 60,000 15,000 5,000 450,000 430,000 390,000 400,000 30,000 38,000 110,000 95,000 300,000 125,000 80,000 40,000 65,000 20,000 What is the net cash flows from operating activities? |

25. The following information relates to the Acme Corporation for the year ending December 31, 2019. Net Income Depreciation Expense Amortization of Intangible Assets Loss on sale of long term assets Beginning Accounts Receivable Ending Accounts Receivable Beginning Inventory Ending Inventory Beginning Prepaid Expenses Ending Prepaid Expenses Beginning Accounts Payable Ending Accounts Payable Purchase of Long-Term Assets for Cash Cash from Issuance of Long-Term Debt Issuance of Stock for Cash Purchase of Treasury Stock Sale of Long-Term Assets at Cost Cash Dividends 500,000 60,000 15,000 5,000 450,000 430,000 390,000 400,000 30,000 38,000 110,000 95,000 300,000 125,000 80,000 40,000 65,000 20,000 What is the net cash flows from operating activities? |

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: acounting
Use the following information for Ingersoll, Inc. Assume the tax rate is 21 percent. 2019 $18,798 2,494 6,741 1,183 Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2018 $17,049 2,386 5,740 1,350 Cash flow from assets Cash flow to creditors Cash flow to stockholders 1,115 1,330 8,681 9,277 11,498 13,512 1,684 1,651 29,090 35,254 72,792 77,640 6,275 6,670 20,441 21,872 2,029 2,324 For 2019, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
The balance sheet data of Flounder Company at the end of 2020 and 2019 are shown below. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings (a) (b) (c) Net Cash Net Cash 2020 $29,800 55,100 65,400 15,200 89,200 (17,840) 70,700 $307,560 Net Cash $65,500 15,100 -0- 30,000 188,100 8.860 $307,560 ✓by operating activities Land was acquired for $30,300 in exchange for common stock, par $30,300, during the year, all equipment purchased was for cash. Equipment costing $12.900 was sold for $3,000, book value of the equipment was $6,100 Cash dividends of $10,000 were declare and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign eg-12.000 or in parenthesis es (12.00 V by investing activities 2019 $34,800 44,800 ✓by financing activities 45,100 25,100 74,200…
2. Prepare the investing activities section of the statement of cash flows for Laporte Inc. for the year ended December 31, 2020. (Negative answers should be indicated by a minus sign. Enter your answers in millions.) LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash flows from investing activities: Purchase of equipment Sale of equipment Sale of long-term investment Net cash flow from investing activities $ (37)
Wildhorse Inc., had the following condensed balance sheet at the end of operations for 2019. Cash Current assets other than cash Equity invesments Plant assets (net) Land 1. During 2020, the following occurred. 2. 3. 4. 5. 6. 7. WILDHORSE INC. BALANCE SHEET DECEMBER 31, 2019 $8,400 28,800 8. 20,000 67,100 40,300 $164,600 Current liabilities Long-term notes payable Bonds payable Common stock Retained earnings A tract of land was purchased for $8,900. Bonds payable in the amount of $15,000 were redeemed at par. An additional $9,900 in common stock was issued at par. Dividends totaling $9,400 were paid to stockholders. Net income was $30,600 after allowing depreciation of $13,300. Land was purchased through the issuance of $22,800 in bonds. $15,200 25,500 25,000 75,000 23,900 $164,600 Wildhorse Inc. sold part of its investment portfolio for $12,900. This transaction resulted in a gain of $1,900 for the company. No unrealized gains or losses were recorded on these investments in 2020. Both…
The balance sheets for Dual Monitors Corporation and additional information are provided below. DUAL MONITORS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional Information for 2024: 1. Net Income is $150,600. 2. Sales on account are $1,215,500. (All sales are credit sales.) 3. Cost of goods sold is $973,400. Complete this question by entering your answers in the tabs below. a. Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover e. Return on equity 2024 19.9 % 13.9 % %6 $208,600 60,000 86,000 3,100 times %6 390,000 390,000 700,000 580,000 (338,000) (178,000)…
Instructions: (Assume all transactions during the year were for cash.) a. Prepare the journal entry to record the sale of the available-for-sale debt securities in 2020. b. Prepare the journal entry to record the Unrealized Holding Gain or Loss for 2020. c. Prepare a statement of comprehensive income for 2020. d. Prepare a balance sheet as of December 31, 2020
Required information [The following information applies to the questions displayed below.] Portions of the financial statements for Parnell Company are provided below. For the Revenues and gains: Sales Cost of goods sold Gain on sale of building Expenses and loss: Salaries Insurance Depreciation PARNELL COMPANY Income Statement Income tax expense Year Ended December 31, 2021 ($ in thousands) Interest expense Loss on sale of equipment Income before tax Net income $ 820 10 $310 122 42 125 52 13 $830 664 166 83 $ 83
Your answer is partially correct. Presented below are a number of balance sheet items for Pearl, Inc. for the current year, 2025. Goodwill Payroll taxes payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) $ 128,520 Accumulated depreciation-equipment 181,111 Inventory Rent payable (short-term) Income taxes payable Rent payable (long-term) Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment 303.520 15,180 363,520 483,520 449,220 268,520 493,520 ? Debt investments (trading) Accumulated depreciation-buildings 101,150 1,603,520 Buildings $ 292,180 243,320 48.520 101,882 483,520 203,520 153,520 91,440 1,473,520 124.520 270,380 1.643.520 Current Llabilitles Accounts Payable Notes Payable Rent Payable Payroll Taxes Payable Income Taxes Payable Total Current Llabilitles Long-term Llabilitles Discount on Bonds Payable Bonds Payable…
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents $ 5,000Accounts receivable (net) 20,000Inventory 60,000Property, plant, and equipment (net) 120,000Accounts payable 44,000Salaries payable 15,000Paid-in capital 100,000 The only asset not listed is short-term investments. The only liabilities not listed are $30,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.5:1.Required:Determine the following…
Prepare the Cash Flow for the year 2021
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