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Calculate the amount of cash flow from operating activities from the following information. Cash received from customers is $420,000, cash paid for wages and expenses is $230,000, depreciation of motor vehicles is $24,000, cash received from the sale of equipment is $25,000, and gain on the sale of the equipment is $23,000. a. $215,000 b. $166,000 c. $190,000 d. $191,000 The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $540,000 in the common stock account and $3.4 million in the additional paid-in surplus account. The 2018 balance sheet showed $580,000 and $3.8 million in the same two accounts, respectively. If the company paid out $500,000 in cash dividends during 2018, what was the cash flow to stockholders for the year? Determine the Inventory turnover from the following information: Beginning Inventory (B.I) = $100,000 Ending inventory (E.I) = $120,000 Cost of goods sold (COGS) = $10,000,000 If the industry average for inventory turnover is 40, compare your inventory turnover to the industry average. Are you doing better than the industry average? Why or why not?

Calculate the amount of cash flow from operating activities from the following information. Cash received from customers is $420,000, cash paid for wages and expenses is $230,000, depreciation of motor vehicles is $24,000, cash received from the sale of equipment is $25,000, and gain on the sale of the equipment is $23,000. a. $215,000 b. $166,000 c. $190,000 d. $191,000 The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $540,000 in the common stock account and $3.4 million in the additional paid-in surplus account. The 2018 balance sheet showed $580,000 and $3.8 million in the same two accounts, respectively. If the company paid out $500,000 in cash dividends during 2018, what was the cash flow to stockholders for the year? Determine the Inventory turnover from the following information: Beginning Inventory (B.I) = $100,000 Ending inventory (E.I) = $120,000 Cost of goods sold (COGS) = $10,000,000 If the industry average for inventory turnover is 40, compare your inventory turnover to the industry average. Are you doing better than the industry average? Why or why not?

FINANCIAL ACCOUNTING
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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Calculate the amount of cash flow from operating activities from the following information. Cash received from customers is $420,000, cash paid for wages and expenses is $230,000, depreciation of motor vehicles is $24,000, cash received from the sale of equipment is $25,000, and gain on the sale of the equipment is $23,000. a. $215,000 b. $166,000 c. $190,000 d. $191,000 The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $540,000 in the common stock account and $3.4 million in the additional paid-in surplus account. The 2018 balance sheet showed $580,000 and $3.8 million in the same two accounts, respectively. If the company paid out $500,000 in cash dividends during 2018, what was the cash flow to stockholders for the year? Determine the Inventory turnover from the following information: Beginning Inventory (B.I) = $100,000 Ending inventory (E.I) = $120,000 Cost of goods sold (COGS) = $10,000,000 If the industry average for inventory turnover is 40, compare your inventory turnover to the industry average. Are you doing better than the industry average? Why or why not?
Transcribed Image Text:Calculate the amount of cash flow from operating activities from the following information. Cash received from customers is $420,000, cash paid for wages and expenses is $230,000, depreciation of motor vehicles is $24,000, cash received from the sale of equipment is $25,000, and gain on the sale of the equipment is $23,000. a. $215,000 b. $166,000 c. $190,000 d. $191,000 The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $540,000 in the common stock account and $3.4 million in the additional paid-in surplus account. The 2018 balance sheet showed $580,000 and $3.8 million in the same two accounts, respectively. If the company paid out $500,000 in cash dividends during 2018, what was the cash flow to stockholders for the year? Determine the Inventory turnover from the following information: Beginning Inventory (B.I) = $100,000 Ending inventory (E.I) = $120,000 Cost of goods sold (COGS) = $10,000,000 If the industry average for inventory turnover is 40, compare your inventory turnover to the industry average. Are you doing better than the industry average? Why or why not?
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