Alpine Associates Incorporated is a Washington-based clothing and ski/skate accessories retailer. In a recent quarter, it reported the following activities: Net Incone Purchase of equipment Borrowings under line of credit (bank) Proceeds from issuance of common stock Cash received from customers Payments to reduce notes payable (long-term) Proceeds from sale of marketable securities Purchase of marketable securities Income taxes paid Other fixed assets purchased with promissory notes Required: Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amounts to be deducted should be indicated with a minus sign.) ALPINE ASSOCIATES INCORPORATED Statement of Cash Flows (Partial) Cash Flows from investing Activites $ 1,820 9,111 29,277 476 421,258 24,283 41,230 35,096 7,412 3,546 Cash Flows from Financing Activities

Alpine Associates Incorporated is a Washington-based clothing and ski/skate accessories retailer. In a recent quarter, it reported the following activities: Net Incone Purchase of equipment Borrowings under line of credit (bank) Proceeds from issuance of common stock Cash received from customers Payments to reduce notes payable (long-term) Proceeds from sale of marketable securities Purchase of marketable securities Income taxes paid Other fixed assets purchased with promissory notes Required: Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amounts to be deducted should be indicated with a minus sign.) ALPINE ASSOCIATES INCORPORATED Statement of Cash Flows (Partial) Cash Flows from investing Activites $ 1,820 9,111 29,277 476 421,258 24,283 41,230 35,096 7,412 3,546 Cash Flows from Financing 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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A company collected $100,000 cash from a customer who both received and was billed for the goods last quarter. Which of the following items would be increased by this cash collection transaction? (check all that apply) Cash from Operations Accounts Receivable Current Assets Cash Revenue
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The Valorant Company has the following items in its general ledger: Petty cash fund- $5,000; Checking account, Bank of Korea- $290,000; Cash fund legally restricted for short-term borrowings, Bank of Korea- $100,000; Checking account, BPI Bank- $(170,000); Checking account, Metrobank- $49,500. The amount of cash that should be reported in Valorant's balance sheet as a current asset is:
On 30 September 2022, Piston Limited had a balance in its ‘Cash in Bank’ general ledger account of $13,034.30 debit. The bank statement from ANZ bank on that date showed a credit balance of $19,495.00. A comparison of the September 2022 bank statement with the ‘Cash in Bank’ general ledger account and the bank reconciliation for August 2022 revealed the following facts (ignore GST): Ref: (1) Electronic Funds Transfers (EFTs), totalling $1,770.10, from the August 2022 bank reconciliation has still not been presented to the bank. (2) Cash sales of $2,945 on 20 September 2022 were deposited in the bank. The general journal entry was incorrectly recorded as $2,954. Piston Limited’s bank statement showed the correct amount of $2,945 was recorded. (3) From the review of the September 2022 cash journals, it was established that outstanding EFTs totalled $3,567.10, and outstanding deposits were $1,190.40. (4) On 24 September 2022 Piston Limited made a payment (EFT…
Computing Cash Collections from Customers. iRobot designs and manufactures robots for consumer, commercial, and military use. For the fiscal year ended January 2, 2016, the company reported the following on its balance sheet and income statement (amounts in thousands): Accounts receivable, net of allowance of $33 at January 2, 2016, and $67 at December 27, 2014, of $104,679 and $71,056, respectively. Revenue for fiscal 2015 (i.e., the year ended January 2, 2016) of $616,778. Bad debt expense for fiscal 2015 of $0. Compute the amount of cash collected from customers during fiscal 2015.
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On July 31, 2022, Carla Vista Co. had a cash balance per books of $6,335.00. The statement from Dakota State Bank on that date showed a balance of $7,885.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $19.00. 2. The bank collected $1,715.00 from a customer for Carla Vista Co. through electronic funds transfer. 3. The July 31 receipts of $1,394.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $374.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $347.00. 5. Checks outstanding on July 31 totaled $2,046.10. 6. On July 31, the bank statement showed an NSF charge of $770.00 for a check received by the company from W. Krueger, a customer, on account.…
3. From the following information relating to Bank Şobar, prepare Income Statement for the year ended 31st March 2020. Show the calculations separately. (PREPARED SHEDULES) Particulars Interest on overdraft Establishment Interest on bill discounted R.O 550,000 70,000 300,000 Rent Salaries 25,000 15,000 Interest on savings Printing and stationery Interest on fixed deposits Commission Interest on loan Interest on Borrowing Interest on cash credit Administration's fees Postage and telegram Maintenance expenses General Reserve 80,000 5,900 55,000 90,000 45,000 42,000 275,000 7,000 2,500 8,400 50,000 30.000 Loan Additional information: 1. Provide OMR 50,000 for doubtful debts 2. Provide OMR 120,000 for taxation 3. Rebate on bills discounted on 31-03-20 OMR 60,000 4. Dividend proposed to pay OMR 30,000 5. Last year Profit OMR 100,000
if the company paid the salaries payable in the next period, the transaction will be as bellow cash debit, salaries payable credit. cash debit , salaries credit. salaries expense debit, cash credit. salaries payable debit, cash credit. Note collection in the bank reconciliation will be Add to the balance per bank. Deduct from balance per bank. O Add to the balance per book. Deduct from balance per book. cost of goods sold equal to O Goods available for sale mince beginning inventory. O Net sale mince goods available for sale Net purchase mince beginning inventory. beginning inventory blues net purchase mince ending inventory
You are a Corporate Credit Analyst for your bank. A new corporate customer in the manufacturing sector approached your bank for a large credit facility in the sum of $20 million for production equipment and warehousing. The customer submitted the following financials to you. List two strengths and two weaknesses of the borrower in relation to credit.
The following is the trail balance of Gulf Bank at 31/12/2022, Name of the account No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Cash and the balances at the central bank Other operating expenses Treasury bills Placement with the bank and other financial institutions Loan and advances Investments securities Investment in associates. Interest receivable and other assets Property and equipment Goodwill and other intangible assets Due to the banks and other financial institutions Borrowing under repurchase agreements Customer deposits Share capital Share premium Interest income Interest expenses Net fees and commission income Other income Staff expenses Depreciation, amortization, and equipment expenses TOTAL Debit BD millions 343.7 11.2 468.7 295 2975.5 1258.6 25 93.5 85 45.5 37.8 38.5 25 5703 Credit BD millions 650 120 3284.2 1418.7 11.4 173.3 24.8 20.6 5703 Requirements: Prepare the income statement and balance sheet of Gulf Bank on 31/12/2022?
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