Assume that retained earnings increased by $62,850 from June 30 of year 1 to June 30 of year 2. A cash dividend of $13,500 was declared and paid during the year. Compute the net income for the year.
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Compute the net income for the year
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- CLASSIFY EACH OF THE FOLLOING AS ONE OF THE FOLLOWING: a) cash b) cash equivalent c) other current asset d) noncurrent asset e) current liability f) long-term liability aa) perosnal check from customer bb) cash held in a fund, the fund is expected to accrue interst for three years cc) one year treasury bill purchased two months before maturity date dd) compensating balance held aginst long term debt, where funds are legally restricted from withdrawal ee) negative cash balance due to outstanding checks exceeding cahs on deposit (this is the only accout with this bank) ff) travel advance of cash to an employee for business travel gg) deposit in a money market fund with a two month maturity date hh) cash depsoited in a 5 year bank sinking fundDays' cash on handFinancial statement data for years ending December 31 for NewtonCompany follow: 20Y9 20Y8 Cash (end of year)Short-term investments (end of year)Operating expensesDepreciation expense $25,5008,27060,13513,225 $24,2509.46063,78011,400 Determine the days' cash on hand for 20Y8 and 2019. Round allcalculations to one decimal place.Compute the rate of return for the following cash flows: Year Cash Flow 1-5 $1,512 6-10 $29,256
- The cash balance of Lalana Company is 434000OMR at the beginning of the year. The cash flows during the year are given as follows; Operating cash inflow:38490 Financing cash outflow: 22430 Investing inflow: 95800 Which of the following is the cash balance at the end of the year. Select one: a. 468890 b. 465760 C. 554520 d. 545860General accountingCash outflows for financing activities during each of the three years presentedexceeded cash inflows from financing activities. In fact, investing activities alsoproduced net cash outflows in two of the three years. How is that possible? Whatis the major contributor from year to year in the amount of cash used in financingactivities? What are the next two highest contributors to that difference?
- State your current cash balance if you have the following information:total cash receipts of $624,000; a cash balance at the end of last year of$60,000; total cash payments of $540,000; cash outflow from investingactivities of $100,000; and cash inflows from financial activitiesof $172,000.Given the following cash flows in table below, determine the rate of return to the nearest second decimal place. Year 0 1 thru 3 4 thru 5 6 thru 10 Cash flow -23K 2K 3K 4KM Corp. recorded a finance lease in February of Year 1 using an annuity due present value table. The company's statement of cash flows for the year ending December 31, Year 1 using the direct method will report_____? A. a cash inflow from investing activities. B. a cash outflow from financing activities. C. a cash outflow from investing activities. D. a cash inflow from operating ...
- Sanders, Inc. reported net income of S205. Beginning and ending balances of accounts receivable were S40 and S45, respectively. Accounts payable balances at the beginning and ending ofthe year were S35 and S33, respectively. Assuming all relevant information has been presented, Sanders should report net operating cash flows of:I want to this question answer general AccountingInstructions: Working capital accounts are current assets and current liabilities. Of the 13 accounts listed in the question, 7 are working capital accounts, some involving an inflow of cash and some involving an outflow of cash. Make a list of the 7 working capital accounts and subdivide and subtotal your list into two categories, the number of cash inflows and the number of cash outflows during the year. (Hint - the grand total is a $12,000 outflow)
