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- 1. During 2021, Target Corporation had: Revenue of $623,000 Cost of Goods Sold of $250,000 Operating expenses of $68,000 Interest expense of $4,000 Depreciation Expense of $13,000 During the year Target Corporation paid: 50% of net income in dividends 21% in corporate taxes a. Prepare a multi-step income statement on Sheet 1 of your spreadsheet. Include the dividend and additions to Retained Earnings below the income statement. b. Calculate Target's Operating Cash Flow beneath the Income Statement. 2. The following data refers to the 2021 year-end account balances for Target. However, the Retained Earnings balance is as of 12/31/2020. The accounts are listed in alphabetical order. $ Accounts Payable 25,000 Accounts Receivable 16,000 Accumulated Depreciation 175,000 Cash 44,000 Common Stock 120,000 Fixed Assets (gross) 390,000…For the year ended December 31, Year 1, Fields Company made cash payments of $53,200 for dividends, paid interest of $22,000, paid $31,200 cash to suppliers, and purchased equipment for $69,200 cash. What is the net cash used by investing activities for Year 1? Multiple Choice $175.600 $113.200 $69.200 $75.200Gympa reported on its income statement a net income $647,000 for the year ended December 31 before considering the following: a. During the year, Gympa purchased trading securities b. At year-end , the fair value of the investment portfolio was $50,000 lesshan the cost c. The balance of Retained Earnings was $792,000 on January 1 d. Gympa paid $67,000 in cash dividends during the year. Using the above data, calculate the balance of Retained Earnings on Decemeber 31.
- A Company provided the following balances on December 31, 2021: Subscription receivable 100,000 Losses from investment in equity FVTOCI 60,000 Accrued taxes 15,000 Ordinary share capital 2,500,000 Profit for the year 1,200,000 Retained earnings, beginning balance3,500,000 Salaries payable 80,000 Share dividends payable 50,000 Treasury shares, at cost 300,000 Unamortized issue cost on notes payable 10,000 Unearned rent income 60,000 Accounts payable (net of accounts with debit balances of P100,000) 300,000 Dividends paid 250,000 Mortgage payable (P800,000 due in 8 months) 3,000,000 Trade notes payable, due on January 31, 2023 600,000 Share premium 200,000 Preference share capital 1,300,000 Discount on notes payable 200,000 [Q3]: Determine the total amount of (7) current liabilities, (8) non-current liabilities, (9) retained earnings and (10) shareholder’s equity on December 31, 2021.Ace Co. issued 1,000 shares of its $10 par value common stock for $15 per share in cash. How should this transaction be reported in Ace's statement of cash flows for the year of issuance? A. $15,000 cash inflow from financing activities. B. $10,000 cash inflow from financing activities and $5,000 adjustment to arrive at cash flows from operating activities. C. $15,000 cash flow from investing activities. D. $10,000 cash flow from investing activities and $5,000 adjustment to arrive at cash flows from operating activitiesASSETS Current assets: Cash MANGO INC.. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equipment, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue. Short-term notes payable Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities. Stockholders' equity: Common stock ($0.00001 per value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity Assume that the following transactions fin $ 14,024 11,377 17,681 2,134 24,141 69,357 131,732 20,873 12,676 $234,638 $ 30,563 18,679 8,599 6,385 64,226 29,344 28,196 121,766 1 25,212 87,659 112,872 $234,638
- ratio. Deana Company's working capital accounts at December During 19x7, Denna Company completed the following transactions P17-11 Effect of various transa given below: Cash Marketable securities Accounts receivable (net) Inventory - Prepaid expenses Accounts payable Notes due within one year Accrued llabilities. S 50,000 30,000 200,000 210,000 10,000 150,000 30,000 20,000 R Paid a cash dividend previously declared, $12.000 b. Soid inventory costing $50,000 for $30,000, on account Wrote off uncollectible accounts in the amount of $10 000 Declared a cash dividend, $15,000. Paid accounts payable, $50,000. f. Borrowed cash on a short-term note with the bank, $35.000 A Sold inventory costing $15,000 for SI0,000 cash. Purchased inventory on account, $60,000. DI Paid off all short-term notes due, $30,000. Purchased equipment for cash, $15,000. d. e. h. j. Sold marketable securities costing $18,000 for cash, $15,000 k. Collected cash on accounts receivable, $80,000. ves Compute the following…10. An investment entity provided the following data for the current year: Dividend income from investments 10,000,000Distribution income from trusts 500,000Interest income on deposits 700,000Income from bank treasury bills 100,000Income from dealing in securities held for trading 600,000Write-down on securities held for trading 150,000Other income 250,000Finance cost 300,000Administrative staff costs 3,800,000Sundry administrative costs 1,400,000Income tax expense 2,000,000Question 1: What is the income before tax?a. 12,000,000 c. 11,750,000b. 12,150,000 d. 11,550,000 Question 2: What is the total amount of expenses before tax?a. 7,500,000 c. 5,500,000b. 5,650,000 d. 7,650,000 Question 3: What is the net income for the year?a. 6,500,000 c. 4,650,000b. 4,500,000 d. 4,250,000chill Company purchased treasury stock with a cost of $216,000 during 2020. During the year, the company paid dividends of $220,000 and issued bonds payable for proceeds of $650,000. Cash flows from financing activities for 2020 total a. $214,000 net cash inflow. b. $256,000 net cash inflow. c. $260,000 net cash outflow. d. $244,000 net cash inflow.
- Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): Borrowed $18,279 from banks due in two years. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. Sold short-term investments costing $19,021 for $19,021 cash. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year. Prepare a classified balance sheet for Orange at September 26, 2020, based on these transactions. please complete this with working and show how did you get the number with other work answer in text thanksMoore Company is preparing its statement of cash flows for the current year. During the year, the company retired two issuances of debt and properly recorded the transactions. These transactions were as follows: Paid cash of $12,700 to retire bonds payable with a face value of $15,000 and a book value of $13,300. Paid cash of $48,000 to retire bonds payable with a face value of $45,000 and a book value of $47,000. Required: Record, in journal entry form, the entries that Moore would make for the preceding transactions on its spreadsheet to prepare its statement of cash flows. If an amount box does not require an entry, leave it blank.Days' cash on hand Financial statement data for years ending December 31 for Newton Company follow: 20Y9 20Υ8 Cash (end of year) $24,665 $24,840 Short-term investments (end of year) 8,210 9,480 Operating expenses 59,050 64,095 Depreciation expense 13,425 Determine the days' cash on hand for 20Y8 and 20Y9. Assume 365 days in a year. Days' Cash on Hand 20Y8: days 20Y9: days P. > Check My Work Save and Exit Submi All work saved.