Determine the net cash flow for this general accounting question Carey Enterprises, LLC had the following cash flows during August:CategoryCash paid for inventoryCash wages to employeesCash sales collectedAmount ($)$25,000$45,000$120,000Purchase of equipment for cash $50,000Proceeds from a bank loanRequired:$80,000Determine the net cash flow during August.

Step 1: Calculation of total cash inflowsTotal Cash Inflows = Cash Sales Collected + Proceeds from…

Answered: Carey Enterprises, LLC had the…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter7: Receivables And Investments

Section: Chapter Questions

Problem 7.17E

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Determining Net Cash Flow from Operating Activities Presented below are selected balance sheet information and the income statement for Burch Company. Selected Balance Sheet Information Jan. 1 Dec. 31 Cash $8,600 $17,500 Accounts receivable 8,000 10,500 Inventory 22,500 21,000 Accounts payable 10,000 11,200 Income taxes payable 2,500 1,100 Burch Company Income Statement For the year ended December 31 Sales $250,000 Cost of goods sold (160,000) Depreciation expense (20,400) Other expenses (35,000) Income tax expense (12,000) Net income $22,600 Required: Compute the net cash flows from operating activities using the indirect method. 43,000 X
Garden Gate, Inc. reported the following data in its August 31 annual report. Cash and cash equivalents $ 485,625 Cash flow from operations (630,000) Required: a. What is the company's "cash burn" per month? per month b. What is the company's ratio of cash to monthly cash expenses? Round your answer to one decimal place. months
The general ledger of Hubert Corporation provides the following information: End of Year Beginning of Year Accounts Receivable $ 125,000 $ 94, 000 Inventory 280,000 210,000 Accounts Payable 130,000 65,000 The company's net sales for the year were $2,850,000 and cost of goods sold amounted to $1,650,000. Instructions Calculate the following: a) Cash receipts from customers. b) Cash payments to suppliers.
Forest Company had the following transactions during the month of December. What is theDecember 31 cash balance?
are presented below. End of Year Beginning of Year Cash and cash equivalents $1,135 $112 Accounts receivable (net) 3,200 3,000 Inventory 1,400 1,400 Other current assets 817 470 Total current assets $6,552 $4,982 Total current liabilities $3,120 $2,482 For the year, net credit sales were $12,710 million, cost of goods sold was $8,260 million, and net cash provided by operating activities was $1,253 million. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the current year. (Round Current ratio to 2 decimal places, e.g. 1.62 and all other answers to 1 decimal place, e.g. 1.6.) Current ratio Accounts receivable turnover Average collection period Inventory turnover Days in inventory :1 times days times days
Financial accounting question
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Forest Company had the following transactions during the month of December. What is the December 31 cash balance? Cash Sales 3, 250.00 Payments for Inventory 1760.00 Investment by the owners 3000.00 Supplies Used 175.00 Cash Withdrawals 260.00 Inventory received 2,500.00 Wages paid 2,390.00 Cash Balance Dec. 1 4,250.00
Please given answer Financial accounting question
the cost of goods sold during the year was $50,000 merchandise inventory as were $12,500 and $10,500 at the beginning and the end of the year respectively accounts payable all owed to merchandising suppliers were $6,000 and $5,000 at the beginning and the end of the year respectively using the direct method of reporting cash flows from operating activities cash payments for merchandise total 47,000 51,000 49,000 53,000
ces Given the following information, complete the balance sheet shown next. Collection period Days' sales in cash Current ratio Inventory turnover Liabilities to assets Payables period Assets Current assets: Cash Accounts receivable Inventory Total current assets Net fixed assets Total assets (All sales are on credit. All calculations assume a 365-day year. The payables period is based on cost of goods sold.) Note: Round your answers to the nearest whole dollar. Liabilities and shareholders' equity Current liabilities: 71 days 33 days 2.2 times Accounts payable Short-term debt Total current liabilities Long-term debt Shareholders' equity Total liabilities and equity 5 65% 35 days $ $ 1,300,000 2,000,000 7,000,000

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